Synnex Corporation (NYSE:SNX) – SunTrust Banks increased their Q1 2018 earnings per share estimates for shares of Synnex in a research report issued on Wednesday. SunTrust Banks analyst F. Atkins now forecasts that the business services provider will post earnings per share of $2.11 for the quarter, up from their previous estimate of $2.10. SunTrust Banks currently has a “Buy” rating and a $145.00 target price on the stock. SunTrust Banks also issued estimates for Synnex’s Q2 2018 earnings at $2.41 EPS, Q3 2018 earnings at $2.73 EPS, Q4 2018 earnings at $3.10 EPS, FY2018 earnings at $10.35 EPS, Q1 2019 earnings at $2.44 EPS, Q2 2019 earnings at $2.60 EPS, Q3 2019 earnings at $2.71 EPS and Q4 2019 earnings at $3.48 EPS.

Synnex (NYSE:SNX) last issued its earnings results on Tuesday, January 9th. The business services provider reported $2.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.69 by $0.10. Synnex had a return on equity of 16.58% and a net margin of 1.89%. The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period last year, the company earned $2.57 earnings per share. The firm’s revenue for the quarter was up 36.7% on a year-over-year basis.

A number of other research analysts have also commented on SNX. Zacks Investment Research raised Synnex from a “hold” rating to a “buy” rating and set a $131.00 price target on the stock in a report on Thursday, September 21st. Pivotal Research assumed coverage on Synnex in a report on Friday, October 6th. They set a “hold” rating and a $137.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and set a $135.00 price target on shares of Synnex in a report on Monday, September 18th. Stifel Nicolaus reissued a “buy” rating and set a $132.00 price target on shares of Synnex in a report on Tuesday, October 17th. Finally, Loop Capital lifted their target price on Synnex from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $141.67.

Shares of Synnex (NYSE SNX) opened at $131.79 on Thursday. Synnex has a 52-week low of $101.48 and a 52-week high of $141.94. The company has a quick ratio of 0.80, a current ratio of 1.61 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $5,270.00, a price-to-earnings ratio of 17.88 and a beta of 1.08.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 19th will be given a $0.35 dividend. This is a positive change from Synnex’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, January 18th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.06%. Synnex’s dividend payout ratio (DPR) is 16.28%.

In other news, Director Thomas S. Wurster sold 300 shares of Synnex stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $136.57, for a total transaction of $40,971.00. Following the completion of the sale, the director now directly owns 10,531 shares in the company, valued at approximately $1,438,218.67. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kevin M. Murai sold 2,000 shares of Synnex stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $128.81, for a total value of $257,620.00. Following the sale, the chief executive officer now owns 144,125 shares of the company’s stock, valued at $18,564,741.25. The disclosure for this sale can be found here. Insiders sold a total of 7,900 shares of company stock valued at $1,050,392 in the last quarter. 3.20% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Globeflex Capital L P lifted its holdings in shares of Synnex by 0.3% during the 2nd quarter. Globeflex Capital L P now owns 3,531 shares of the business services provider’s stock valued at $424,000 after buying an additional 10 shares during the last quarter. Affinity Wealth Management increased its position in Synnex by 1.9% in the 2nd quarter. Affinity Wealth Management now owns 1,869 shares of the business services provider’s stock worth $224,000 after buying an additional 34 shares during the period. Amalgamated Bank increased its position in Synnex by 1.5% in the 2nd quarter. Amalgamated Bank now owns 4,164 shares of the business services provider’s stock worth $500,000 after buying an additional 60 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Synnex by 9.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,122 shares of the business services provider’s stock worth $135,000 after buying an additional 96 shares during the period. Finally, Cubist Systematic Strategies LLC increased its position in Synnex by 1.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 5,972 shares of the business services provider’s stock worth $716,000 after buying an additional 106 shares during the period. Institutional investors and hedge funds own 71.68% of the company’s stock.

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About Synnex

Synnex Corporation is a business process services company. The Company provides a range of distribution, logistics and integration services for the technology industry and providing outsourced services focused on customer engagement strategy. The Company operates in two segments: Technology Solutions and Concentrix.

Earnings History and Estimates for Synnex (NYSE:SNX)

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