Synnex (SNX) Announces Quarterly Earnings Results
Synnex (NYSE:SNX) posted its quarterly earnings data on Tuesday. The business services provider reported $2.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.69 by $0.10, Bloomberg Earnings reports. Synnex had a return on equity of 16.58% and a net margin of 1.89%. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter in the previous year, the firm earned $2.57 earnings per share. The business’s revenue was up 36.7% on a year-over-year basis. Synnex updated its Q1 guidance to $2.06-2.15 EPS.
Shares of Synnex (NYSE SNX) opened at $140.70 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.80 and a current ratio of 1.61. Synnex has a one year low of $101.48 and a one year high of $141.94. The stock has a market capitalization of $5,620.00, a price-to-earnings ratio of 19.09 and a beta of 1.08.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 19th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.00%. This is a positive change from Synnex’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, January 18th. Synnex’s payout ratio is presently 16.28%.
In related news, Director Thomas S. Wurster sold 300 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $134.05, for a total transaction of $40,215.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kevin M. Murai sold 2,000 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $128.81, for a total value of $257,620.00. Following the sale, the chief executive officer now owns 144,125 shares in the company, valued at $18,564,741.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,900 shares of company stock worth $1,050,392. 3.20% of the stock is currently owned by corporate insiders.
Several analysts have issued reports on the company. Pivotal Research assumed coverage on Synnex in a research note on Friday, October 6th. They issued a “hold” rating and a $137.00 target price on the stock. Needham & Company LLC boosted their target price on Synnex from $145.00 to $151.00 and gave the company a “buy” rating in a research note on Wednesday. ValuEngine upgraded Synnex from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research lowered Synnex from a “buy” rating to a “hold” rating in a research note on Tuesday, November 28th. Finally, Citigroup restated a “neutral” rating and issued a $150.00 target price on shares of Synnex in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $141.67.
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Synnex Company Profile
Synnex Corporation is a business process services company. The Company provides a range of distribution, logistics and integration services for the technology industry and providing outsourced services focused on customer engagement strategy. The Company operates in two segments: Technology Solutions and Concentrix.
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