SYNNEX (NYSE:SNX) Announces Quarterly Earnings Results

SYNNEX (NYSE:SNX) issued its quarterly earnings results on Thursday. The business services provider reported $4.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.61 by $0.65, reports. The company had revenue of $6.58 billion during the quarter, compared to the consensus estimate of $5.99 billion. SYNNEX had a return on equity of 17.96% and a net margin of 1.92%. SYNNEX’s revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the firm posted $3.65 EPS. SYNNEX updated its Q1 2020
After-Hours guidance to 3.03-3.22 EPS and its Q1 guidance to $3.03-3.22 EPS.

SNX stock opened at $128.84 on Friday. The company has a market cap of $6.48 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 0.93 and a beta of 1.03. The company has a quick ratio of 0.96, a current ratio of 1.57 and a debt-to-equity ratio of 0.77. The business has a fifty day simple moving average of $126.56 and a 200-day simple moving average of $107.64. SYNNEX has a 52 week low of $78.55 and a 52 week high of $130.96.

SNX has been the subject of several analyst reports. Stifel Nicolaus boosted their price target on SYNNEX from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday. TheStreet upgraded SYNNEX from a “c+” rating to a “b-” rating in a report on Friday, September 27th. ValuEngine downgraded SYNNEX from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded SYNNEX from a “hold” rating to a “buy” rating and set a $126.00 price target for the company in a report on Tuesday, October 1st. Finally, Barrington Research reiterated a “buy” rating and issued a $118.00 price target on shares of SYNNEX in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $132.33.

In other news, Director Kevin M. Murai sold 2,500 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $114.42, for a total transaction of $286,050.00. Following the completion of the sale, the director now directly owns 30,927 shares in the company, valued at approximately $3,538,667.34. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas S. Wurster sold 1,600 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $128.25, for a total value of $205,200.00. Following the sale, the director now owns 13,990 shares of the company’s stock, valued at $1,794,217.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,364 shares of company stock valued at $2,245,328. Insiders own 3.20% of the company’s stock.

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.

Read More: The limitations of an equal weight rating

Earnings History for SYNNEX (NYSE:SNX)

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