Analysts forecast that SYNNEX Co. (NYSE:SNX) will report $5.68 billion in sales for the current quarter, according to Zacks. Three analysts have made estimates for SYNNEX’s earnings. The highest sales estimate is $5.70 billion and the lowest is $5.64 billion. SYNNEX reported sales of $4.91 billion during the same quarter last year, which indicates a positive year over year growth rate of 15.7%. The business is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, September 24th.

On average, analysts expect that SYNNEX will report full year sales of $22.56 billion for the current year, with estimates ranging from $22.50 billion to $22.61 billion. For the next year, analysts expect that the business will post sales of $22.84 billion, with estimates ranging from $22.48 billion to $23.02 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow SYNNEX.

SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Tuesday, June 25th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.71 by $0.15. SYNNEX had a net margin of 1.79% and a return on equity of 17.65%. The business had revenue of $5.72 billion for the quarter, compared to analyst estimates of $5.53 billion.

A number of analysts have recently weighed in on the stock. Barrington Research set a $118.00 price objective on shares of SYNNEX and gave the stock a “buy” rating in a research note on Friday, July 12th. Zacks Investment Research lowered shares of SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. ValuEngine downgraded shares of SYNNEX from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Finally, Bank of America initiated coverage on shares of SYNNEX in a report on Friday, September 6th. They set a “buy” rating and a $120.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $122.25.

SYNNEX stock traded down $0.07 during mid-day trading on Tuesday, reaching $98.04. 6,832 shares of the company traded hands, compared to its average volume of 244,868. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.57 and a quick ratio of 0.99. SYNNEX has a fifty-two week low of $71.82 and a fifty-two week high of $109.62. The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of 9.00, a price-to-earnings-growth ratio of 0.75 and a beta of 0.99. The firm’s fifty day moving average is $88.14 and its two-hundred day moving average is $95.61.

In other SYNNEX news, CFO Marshall Witt sold 600 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $101.16, for a total transaction of $60,696.00. Following the transaction, the chief financial officer now directly owns 15,293 shares of the company’s stock, valued at $1,547,039.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Simon Leung sold 1,000 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $100.03, for a total transaction of $100,030.00. Following the transaction, the senior vice president now directly owns 21,257 shares in the company, valued at $2,126,337.71. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,536 shares of company stock worth $451,212. Insiders own 3.20% of the company’s stock.

Large investors have recently bought and sold shares of the company. CENTRAL TRUST Co lifted its stake in shares of SYNNEX by 290.7% in the second quarter. CENTRAL TRUST Co now owns 336 shares of the business services provider’s stock worth $32,000 after buying an additional 250 shares in the last quarter. First National Bank of South Miami purchased a new position in shares of SYNNEX in the second quarter worth about $52,000. Optimum Investment Advisors lifted its stake in shares of SYNNEX by 5,000.0% in the first quarter. Optimum Investment Advisors now owns 612 shares of the business services provider’s stock worth $58,000 after buying an additional 600 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of SYNNEX in the second quarter worth about $79,000. Finally, Investors Research Corp lifted its stake in shares of SYNNEX by 17.6% in the second quarter. Investors Research Corp now owns 843 shares of the business services provider’s stock worth $83,000 after buying an additional 126 shares in the last quarter. 76.84% of the stock is currently owned by hedge funds and other institutional investors.

SYNNEX Company Profile

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

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Earnings History and Estimates for SYNNEX (NYSE:SNX)

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