SYNNEX Co. (NYSE:SNX) Expected to Post Q1 2022 Earnings of $2.64 Per Share

SYNNEX Co. (NYSE:SNX) – Research analysts at Barrington Research issued their Q1 2022 earnings per share (EPS) estimates for SYNNEX in a report issued on Wednesday, January 12th. Barrington Research analyst V. Colicchio anticipates that the business services provider will post earnings of $2.64 per share for the quarter. Barrington Research has a “Outperform” rating and a $128.00 price objective on the stock. Barrington Research also issued estimates for SYNNEX’s Q2 2022 earnings at $2.73 EPS and FY2023 earnings at $12.36 EPS.

SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Tuesday, January 11th. The business services provider reported $2.86 EPS for the quarter, beating the consensus estimate of $2.68 by $0.18. SYNNEX had a return on equity of 15.61% and a net margin of 1.25%. The firm had revenue of $15.61 billion during the quarter, compared to analysts’ expectations of $15.52 billion. During the same quarter in the prior year, the firm posted $5.21 EPS. The company’s revenue for the quarter was up 110.6% on a year-over-year basis.

A number of other equities research analysts have also recently weighed in on SNX. Northcoast Research started coverage on SYNNEX in a report on Thursday, December 16th. They set a “buy” rating and a $136.00 price target for the company. Cross Research raised SYNNEX from a “hold” rating to a “buy” rating and set a $124.00 price target for the company in a report on Wednesday. Raymond James increased their price objective on SYNNEX from $150.00 to $170.00 and gave the company a “strong-buy” rating in a research report on Wednesday. Citigroup increased their price objective on SYNNEX from $155.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Zacks Investment Research lowered SYNNEX from a “buy” rating to a “hold” rating and set a $114.00 price objective on the stock. in a research report on Tuesday, November 30th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, SYNNEX presently has a consensus rating of “Buy” and a consensus price target of $145.88.

SNX stock opened at $106.82 on Friday. The business has a fifty day moving average price of $110.67 and a 200 day moving average price of $114.20. SYNNEX has a fifty-two week low of $80.36 and a fifty-two week high of $130.93. The stock has a market capitalization of $10.26 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 1.04 and a beta of 1.71. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.25 and a quick ratio of 1.68.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 28th. Stockholders of record on Friday, January 21st will be given a $0.30 dividend. This is a positive change from SYNNEX’s previous quarterly dividend of $0.20. This represents a $1.20 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Thursday, January 20th. SYNNEX’s dividend payout ratio (DPR) is currently 12.27%.

In other news, insider Dennis Polk sold 1,300 shares of the firm’s stock in a transaction on Wednesday, December 1st. The stock was sold at an average price of $104.28, for a total value of $135,564.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ann F. Vezina sold 1,055 shares of SYNNEX stock in a transaction dated Friday, October 29th. The stock was sold at an average price of $104.89, for a total value of $110,658.95. The disclosure for this sale can be found here. Insiders sold a total of 3,655 shares of company stock worth $385,089 over the last 90 days. 3.00% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of SNX. Eagle Asset Management Inc. raised its stake in shares of SYNNEX by 83.6% in the 2nd quarter. Eagle Asset Management Inc. now owns 35,272 shares of the business services provider’s stock valued at $4,294,000 after purchasing an additional 16,059 shares during the period. Mackenzie Financial Corp increased its position in shares of SYNNEX by 10.5% in the second quarter. Mackenzie Financial Corp now owns 109,693 shares of the business services provider’s stock valued at $13,356,000 after acquiring an additional 10,400 shares during the last quarter. Community Capital Management LLC increased its position in shares of SYNNEX by 27.6% in the third quarter. Community Capital Management LLC now owns 9,700 shares of the business services provider’s stock valued at $1,010,000 after acquiring an additional 2,100 shares during the last quarter. Putnam Investments LLC acquired a new stake in shares of SYNNEX in the second quarter valued at about $334,000. Finally, Denali Advisors LLC increased its position in shares of SYNNEX by 875.5% in the third quarter. Denali Advisors LLC now owns 1,951 shares of the business services provider’s stock valued at $203,000 after acquiring an additional 1,751 shares during the last quarter. Hedge funds and other institutional investors own 86.13% of the company’s stock.

About SYNNEX

TD SYNNEX Corp. engages in the provision of distribution, logistics and integration services for the technology industry. It operates through the following segments: Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals, IT systems including data center server and storage solutions, system components, software, networking equipment, consumer electronics, and complementary products.

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