SYNNEX (NYSE:SNX) issued an update on its third quarter earnings guidance on Wednesday morning. 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.
Several equities research analysts have issued reports on the stock. Barrington Research reissued a buy rating and issued a $118.00 price target on shares of SYNNEX in a report on Friday, June 21st. Zacks Investment Research cut SYNNEX from a buy rating to a hold rating in a research note on Wednesday, May 29th. ValuEngine cut shares of SYNNEX from a hold rating to a sell rating in a research note on Monday, May 13th. Citigroup set a $140.00 price target on SYNNEX and gave the company a buy rating in a report on Friday, April 12th. Finally, TheStreet cut SYNNEX from a b rating to a c+ rating in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $122.38.
SNX opened at $99.38 on Thursday. The stock has a market cap of $4.71 billion, a PE ratio of 9.13, a PEG ratio of 0.64 and a beta of 0.95. 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 company has a 50 day moving average price of $94.70. SYNNEX has a 52 week low of $71.82 and a 52 week high of $111.74.
SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Tuesday, June 25th. The business services provider reported $2.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.71 by $0.15. SYNNEX had a return on equity of 18.29% and a net margin of 1.79%. The company had revenue of $5.72 billion during the quarter, compared to analyst estimates of $5.53 billion. Sell-side analysts predict that SYNNEX will post 11.91 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.50 annualized dividend and a yield of 1.51%. SYNNEX’s payout ratio is currently 13.77%.
In related news, CFO Marshall Witt sold 600 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $108.28, for a total value of $64,968.00. Following the transaction, the chief financial officer now directly owns 16,493 shares of the company’s stock, valued at approximately $1,785,862.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Simon Leung sold 1,000 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $107.27, for a total value of $107,270.00. Following the sale, the senior vice president now directly owns 22,257 shares in the company, valued at $2,387,508.39. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,553 shares of company stock worth $2,046,328. 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.
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