SYNNEX (NYSE:SNX) updated its third quarter 2021 earnings guidance on Thursday. The company provided earnings per share guidance of $1.900-$2.100 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.990. The company issued revenue guidance of $4.95 billion-$5.45 billion, compared to the consensus revenue estimate of $5.10 billion.
SNX has been the topic of several analyst reports. Raymond James increased their target price on SYNNEX from $125.00 to $140.00 and gave the stock a strong-buy rating in a report on Friday, June 25th. increased their target price on SYNNEX from $120.00 to $155.00 and gave the stock a buy rating in a report on Monday, May 24th. Citigroup reissued a buy rating and set a $155.00 target price (up from $120.00) on shares of SYNNEX in a report on Monday, May 24th. Zacks Investment Research raised SYNNEX from a hold rating to a buy rating and set a $114.00 target price on the stock in a report on Wednesday, March 24th. Finally, Barrington Research increased their target price on SYNNEX from $130.00 to $140.00 and gave the stock an outperform rating in a report on Monday, June 28th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $131.00.
SYNNEX stock traded up $1.08 during trading hours on Thursday, hitting $115.84. The stock had a trading volume of 4,792 shares, compared to its average volume of 303,938. The company has a current ratio of 1.70, a quick ratio of 1.07 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $6.02 billion, a PE ratio of 11.24, a price-to-earnings-growth ratio of 1.34 and a beta of 1.72. SYNNEX has a one year low of $49.24 and a one year high of $130.55. The business has a 50 day moving average of $121.84.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 30th. Shareholders of record on Friday, July 16th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, July 15th. This represents a $0.80 annualized dividend and a yield of 0.69%. SYNNEX’s dividend payout ratio is presently 5.85%.
In other news, Director Kevin M. Murai sold 4,275 shares of the firm’s stock in a transaction dated Tuesday, June 8th. The stock was sold at an average price of $128.37, for a total transaction of $548,781.75. Following the completion of the transaction, the director now directly owns 9,251 shares in the company, valued at $1,187,550.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dwight Steffensen sold 300 shares of the firm’s stock in a transaction dated Tuesday, July 20th. The stock was sold at an average price of $113.78, for a total value of $34,134.00. The disclosure for this sale can be found here. Insiders sold 31,320 shares of company stock valued at $3,817,530 over the last quarter. Corporate insiders own 3.00% of the company’s stock.
SYNNEX Company Profile
SYNNEX Corporation provides business process services in the United States and internationally. The company distributes peripherals; and information technology systems, including system components, software, networking, communications and security equipment, consumer electronics, and complementary products, as well as designs and integrates data center equipment.
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