Wall Street analysts predict that Syntel, Inc. (NASDAQ:SYNT) will report sales of $241.07 million for the current quarter, according to Zacks. Four analysts have made estimates for Syntel’s earnings. The lowest sales estimate is $232.15 million and the highest is $252.25 million. Syntel reported sales of $231.34 million during the same quarter last year, which indicates a positive year-over-year growth rate of 4.2%. The firm is expected to report its next quarterly earnings results on Tuesday, October 16th.
According to Zacks, analysts expect that Syntel will report full-year sales of $976.06 million for the current fiscal year, with estimates ranging from $948.90 million to $996.49 million. For the next year, analysts forecast that the firm will post sales of $1.00 billion per share, with estimates ranging from $978.00 million to $1.03 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Syntel.
Syntel (NASDAQ:SYNT) last issued its quarterly earnings data on Thursday, July 26th. The information technology services provider reported $0.49 EPS for the quarter, beating the consensus estimate of $0.44 by $0.05. Syntel had a return on equity of 3,237.31% and a net margin of 18.42%. The firm had revenue of $249.70 million during the quarter. During the same quarter in the prior year, the company posted $0.44 EPS. The business’s revenue for the quarter was up 10.1% on a year-over-year basis.
SYNT has been the subject of a number of research analyst reports. Zacks Investment Research lowered Syntel from a “buy” rating to a “hold” rating in a research note on Saturday, June 23rd. BidaskClub lowered Syntel from a “buy” rating to a “hold” rating in a research note on Friday, September 14th. Barrington Research restated a “hold” rating on shares of Syntel in a research note on Monday, July 23rd. Wells Fargo & Co lowered Syntel from a “market perform” rating to an “underperform” rating in a research note on Thursday, June 28th. Finally, Wellington Shields lowered Syntel from a “gradually accumulate” rating to a “hold” rating in a research note on Wednesday, June 6th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $29.00.
Shares of SYNT opened at $40.93 on Friday. The firm has a market cap of $3.40 billion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 2.07 and a beta of 0.80. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 3.70. Syntel has a 12 month low of $18.43 and a 12 month high of $41.05.
Hedge funds have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. raised its stake in shares of Syntel by 32.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 426,897 shares of the information technology services provider’s stock valued at $10,899,000 after buying an additional 105,541 shares during the last quarter. Convergence Investment Partners LLC purchased a new position in shares of Syntel during the 2nd quarter valued at about $5,863,000. FIL Ltd raised its stake in shares of Syntel by 13.9% during the 1st quarter. FIL Ltd now owns 569,173 shares of the information technology services provider’s stock valued at $14,531,000 after buying an additional 69,663 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Syntel by 12.2% during the 1st quarter. Prudential Financial Inc. now owns 95,569 shares of the information technology services provider’s stock valued at $2,440,000 after buying an additional 10,410 shares during the last quarter. Finally, Chicago Equity Partners LLC raised its stake in shares of Syntel by 12.4% during the 2nd quarter. Chicago Equity Partners LLC now owns 135,240 shares of the information technology services provider’s stock valued at $4,340,000 after buying an additional 14,905 shares during the last quarter. Institutional investors own 40.78% of the company’s stock.
Syntel Company Profile
Syntel, Inc provides digital transformation, information technology (IT), and knowledge process outsourcing (KPO) services worldwide. The company operates through Banking and Financial Services; Healthcare and Life Sciences; Insurance; Manufacturing; and Retail, Logistics, and Telecom segments. It provides end-to-end, integrated application, and infrastructure management services; develops software applications; and offers legacy modernization services, such as software analysis, language conversion, reverse engineering, database migration, code optimization, cloud onboarding and migration, ecosystem migration, testing, and management.
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