Brokerages forecast that SYNNEX Co. (NYSE:SNX) will report $3.00 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have made estimates for SYNNEX’s earnings, with the lowest EPS estimate coming in at $2.97 and the highest estimate coming in at $3.02. SYNNEX posted earnings per share of $2.79 during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.5%. The company is scheduled to report its next quarterly earnings report on Tuesday, January 8th.

According to Zacks, analysts expect that SYNNEX will report full year earnings of $10.12 per share for the current fiscal year, with EPS estimates ranging from $10.05 to $10.22. For the next year, analysts expect that the business will report earnings of $11.58 per share, with EPS estimates ranging from $11.43 to $11.65. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow SYNNEX.

SYNNEX (NYSE:SNX) last released its earnings results on Wednesday, October 3rd. The business services provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.11. SYNNEX had a return on equity of 17.16% and a net margin of 1.41%. The business had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.88 billion. During the same quarter in the prior year, the company posted $2.16 earnings per share. SYNNEX’s revenue was up 14.8% on a year-over-year basis.

Several research firms recently issued reports on SNX. Zacks Investment Research upgraded SYNNEX from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Tuesday, October 9th. SunTrust Banks lowered their price target on SYNNEX to $100.00 and set a “buy” rating on the stock in a research report on Thursday, October 4th. Stifel Nicolaus lowered their price target on SYNNEX from $130.00 to $114.00 and set a “buy” rating on the stock in a research report on Thursday, October 4th. TheStreet downgraded SYNNEX from a “b-” rating to a “c+” rating in a research report on Friday, October 12th. Finally, Needham & Company LLC raised SYNNEX from a “buy” rating to a “strong-buy” rating and set a $135.00 price target on the stock in a research report on Thursday, October 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $127.00.

In other SYNNEX news, major shareholder Star Developments Ltd Silver purchased 113,000 shares of the stock in a transaction on Monday, October 22nd. The shares were purchased at an average price of $80.53 per share, with a total value of $9,099,890.00. Following the completion of the transaction, the insider now directly owns 5,125,080 shares in the company, valued at $412,722,692.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Dennis Polk sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $96.21, for a total value of $192,420.00. Following the transaction, the chief executive officer now directly owns 26,494 shares in the company, valued at approximately $2,548,987.74. The disclosure for this sale can be found here. In the last three months, insiders have acquired 370,331 shares of company stock worth $29,495,099 and have sold 8,609 shares worth $735,256. 3.20% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of SNX. Millennium Management LLC grew its position in shares of SYNNEX by 385.0% in the first quarter. Millennium Management LLC now owns 17,163 shares of the business services provider’s stock valued at $2,032,000 after purchasing an additional 13,624 shares during the last quarter. Xact Kapitalforvaltning AB grew its position in shares of SYNNEX by 42.2% in the second quarter. Xact Kapitalforvaltning AB now owns 5,058 shares of the business services provider’s stock valued at $488,000 after purchasing an additional 1,500 shares during the last quarter. Townsend & Associates Inc acquired a new position in shares of SYNNEX in the second quarter valued at approximately $108,000. Cornerstone Wealth Management LLC acquired a new position in shares of SYNNEX in the second quarter valued at approximately $131,000. Finally, Visionary Asset Management Inc. acquired a new position in shares of SYNNEX in the second quarter valued at approximately $290,000. 71.66% of the stock is currently owned by institutional investors.

SNX opened at $75.98 on Thursday. SYNNEX has a 52-week low of $72.83 and a 52-week high of $141.94. The stock has a market cap of $3.96 billion, a P/E ratio of 8.58 and a beta of 0.83. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.94 and a current ratio of 1.51.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 26th. Shareholders of record on Friday, October 12th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend was Thursday, October 11th. SYNNEX’s dividend payout ratio (DPR) is presently 15.80%.

About SYNNEX

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.

Featured Article: Buyback

Get a free copy of the Zacks research report on SYNNEX (SNX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for SYNNEX (NYSE:SNX)

Receive News & Ratings for SYNNEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SYNNEX and related companies with MarketBeat.com's FREE daily email newsletter.