SYNNEX (NYSE:SNX) updated its third quarter 2019 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.80-2.92 for the period, compared to the Thomson Reuters consensus estimate of $2.79. The company issued revenue guidance of $5.55-5.85 billion, compared to the consensus revenue estimate of $5.58 billion.
A number of research analysts have issued reports on the stock. ValuEngine upgraded shares of SYNNEX from a sell rating to a hold rating in a research report on Monday, April 15th. Citigroup set a $140.00 target price on shares of SYNNEX and gave the stock a buy rating in a research report on Friday, April 12th. Barrington Research assumed coverage on shares of SYNNEX in a research report on Thursday, April 4th. They set an outperform rating on the stock. TheStreet lowered shares of SYNNEX from a b rating to a c+ rating in a research report on Tuesday, April 2nd. Finally, Zacks Investment Research lowered shares of SYNNEX from a buy rating to a hold rating in a research report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. SYNNEX currently has an average rating of Buy and an average price target of $122.38.
Shares of NYSE SNX traded down $0.40 during trading hours on Tuesday, hitting $92.02. 501,823 shares of the stock were exchanged, compared to its average volume of 351,265. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.81. The firm has a market cap of $4.73 billion, a P/E ratio of 8.45, a PEG ratio of 0.66 and a beta of 0.95. The firm has a fifty day moving average of $95.11. SYNNEX has a 1-year low of $71.82 and a 1-year high of $111.74.
SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Wednesday, March 27th. The business services provider reported $2.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.75 by $0.09. The business had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.29 billion. SYNNEX had a net margin of 1.75% and a return on equity of 17.78%. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter last year, the business posted $2.14 EPS. Equities analysts anticipate that SYNNEX will post 11.91 earnings per share for the current fiscal year.
In related news, CFO Marshall Witt sold 600 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $96.44, for a total value of $57,864.00. Following the completion of the transaction, the chief financial officer now owns 17,093 shares of the company’s stock, valued at approximately $1,648,448.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Simon Leung sold 1,000 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $100.16, for a total transaction of $100,160.00. Following the completion of the transaction, the senior vice president now directly owns 23,043 shares of the company’s stock, valued at approximately $2,307,986.88. The disclosure for this sale can be found here. In the last three months, insiders sold 19,553 shares of company stock valued at $2,046,328. 3.20% of the stock is owned by insiders.
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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