Wall Street brokerages expect SYNNEX Co. (NYSE:SNX) to post earnings of $2.46 per share for the current quarter, according to Zacks. Three analysts have issued estimates for SYNNEX’s earnings, with the lowest EPS estimate coming in at $2.45 and the highest estimate coming in at $2.46. SYNNEX reported earnings per share of $2.16 in the same quarter last year, which suggests a positive year-over-year growth rate of 13.9%. The business is scheduled to report its next quarterly earnings results after the market closes on Wednesday, October 3rd.

On average, analysts expect that SYNNEX will report full year earnings of $10.10 per share for the current financial year, with EPS estimates ranging from $10.01 to $10.20. For the next fiscal year, analysts expect that the company will post earnings of $11.00 per share, with EPS estimates ranging from $10.96 to $11.05. Zacks’ EPS averages are a mean average based on a survey of research firms that cover SYNNEX.

SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, June 28th. The business services provider reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.08. SYNNEX had a return on equity of 16.69% and a net margin of 1.49%. The firm had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period last year, the firm posted $2.08 EPS. The business’s revenue was up 26.3% compared to the same quarter last year.

Several equities research analysts have recently issued reports on SNX shares. Zacks Investment Research lowered SYNNEX from a “hold” rating to a “sell” rating in a research report on Wednesday, May 30th. Cross Research lowered SYNNEX from a “buy” rating to a “hold” rating in a research report on Friday, June 29th. Pivotal Research decreased their target price on SYNNEX from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, June 29th. Stifel Nicolaus decreased their price objective on SYNNEX from $140.00 to $130.00 and set a “buy” rating for the company in a report on Friday, June 29th. Finally, TheStreet raised SYNNEX from a “c+” rating to a “b” rating in a report on Friday, June 29th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $141.14.

Shares of SYNNEX stock traded down $1.03 during trading hours on Monday, hitting $92.05. 305,000 shares of the company’s stock traded hands, compared to its average volume of 286,593. SYNNEX has a 12-month low of $90.65 and a 12-month high of $141.94. The firm has a market cap of $3.69 billion, a PE ratio of 10.39 and a beta of 0.86. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.49 and a quick ratio of 0.91.

In related news, CFO Marshall Witt sold 300 shares of SYNNEX stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $95.79, for a total value of $28,737.00. Following the completion of the sale, the chief financial officer now owns 19,010 shares of the company’s stock, valued at approximately $1,820,967.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Dennis Polk sold 2,000 shares of SYNNEX stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $95.89, for a total value of $191,780.00. Following the completion of the sale, the chief executive officer now directly owns 26,295 shares of the company’s stock, valued at approximately $2,521,427.55. The disclosure for this sale can be found here. In the last three months, insiders sold 8,057 shares of company stock valued at $775,749. 3.20% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Townsend & Associates Inc bought a new position in SYNNEX in the 2nd quarter worth about $108,000. Point72 Hong Kong Ltd bought a new position in SYNNEX in the 2nd quarter worth about $136,000. Integre Asset Management LLC boosted its position in shares of SYNNEX by 54.5% during the 1st quarter. Integre Asset Management LLC now owns 1,700 shares of the business services provider’s stock valued at $201,000 after acquiring an additional 600 shares during the last quarter. Csenge Advisory Group bought a new stake in shares of SYNNEX during the 1st quarter valued at about $229,000. Finally, Nomura Holdings Inc. bought a new stake in shares of SYNNEX during the 2nd quarter valued at about $210,000. 71.64% of the stock is owned by institutional investors.

SYNNEX Company Profile

SYNNEX Corporation provides business process services in North and South America, the Asia-Pacific, Europe, and internationally. It operates in two segments, Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals; information technology systems, including data center server and storage solutions; system components; software; networking/communications/security equipment; consumer electronics; and complementary products.

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Earnings History and Estimates for SYNNEX (NYSE:SNX)

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