Syntel (SYNT) updated its FY13 earnings guidance on Thursday. The company provided earnings per share guidance of $4.15-4.45 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.24. The company issued revenue guidance of $780-810 million, compared to the consensus revenue estimate of $805.89 million.
A number of research firms have also recently commented on SYNT. Analysts at Needham & Company raised their price target on shares of Syntel from $64.00 to $68.00 in a research note to investors on Thursday. They now have a buy rating on the stock. On a related note, analysts at Janney Montgomery Scott downgraded shares of Syntel from a buy rating to a neutral rating in a research note to investors on Monday, January 7th. Finally, analysts at Janney Montgomery Scott downgraded shares of Syntel from a buy rating to a neutral rating in a research note to investors on Monday, January 7th. They now have a $60.00 price target on the stock.
Six equities research analysts have rated the stock with a buy rating, and five have given a hold rating to the company’s stock. The company currently has a consensus rating of overweight and an average price target of $67.62.
Syntel (SYNT) traded up 1.23% on Thursday, hitting $58.25. Syntel (SYNT) has a 1-year low of $48.51 and a 1-year high of $65.19. The stock’s 50-day moving average is currently $55.92. The company has a market cap of $2.442 billion and a price-to-earnings ratio of 13.38.
Syntel last announced its earnings results on Thursday, February 14th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.15. The company had revenue of $187.80 million for the quarter, compared to the consensus estimate of $184.60 million. During the same quarter in the prior year, the company posted $1.05 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. Syntel has set its FY13 guidance at $4.15-4.45 EPS. Analysts expect that Syntel (SYNT) will post $4.29 EPS for the current fiscal year.
Syntel, Inc. (Syntel) is a provider of information technology and knowledge process outsourcing (KPO) services to Global 2000 companies.
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