Wall Street analysts forecast that SYNNEX Co. (NYSE:SNX) will post sales of $5.68 billion for the current quarter, Zacks reports. Three analysts have made estimates for SYNNEX’s earnings, with the lowest sales estimate coming in at $5.64 billion and the highest estimate coming in at $5.70 billion. SYNNEX reported sales of $4.91 billion in the same quarter last year, which would suggest a positive year over year growth rate of 15.7%. The firm is expected to issue its next earnings report after the market closes on Tuesday, September 24th.

On average, analysts expect that SYNNEX will report full-year sales of $22.56 billion for the current year, with estimates ranging from $22.50 billion to $22.61 billion. For the next financial year, analysts forecast that the firm will report sales of $22.84 billion, with estimates ranging from $22.48 billion to $23.02 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that follow SYNNEX.

SYNNEX (NYSE:SNX) last issued its earnings results on Tuesday, June 25th. The business services provider reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.15. The business had revenue of $5.72 billion during the quarter, compared to analyst estimates of $5.53 billion. SYNNEX had a return on equity of 17.65% and a net margin of 1.79%.

Several equities analysts recently commented on SNX shares. ValuEngine downgraded SYNNEX from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Barrington Research set a $118.00 target price on shares of SYNNEX and gave the company a “buy” rating in a research note on Friday, July 12th. Bank of America assumed coverage on shares of SYNNEX in a research note on Friday, September 6th. They set a “buy” rating and a $120.00 target price for the company. Finally, Zacks Investment Research downgraded shares of SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. 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 presently has a consensus rating of “Buy” and an average target price of $122.25.

In related news, CFO Marshall Witt sold 285 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $98.50, for a total transaction of $28,072.50. Following the completion of the sale, the chief financial officer now owns 15,008 shares of the company’s stock, valued at $1,478,288. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dwight Steffensen sold 366 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $101.24, for a total transaction of $37,053.84. Following the sale, the director now directly owns 1,098 shares of the company’s stock, valued at approximately $111,161.52. The disclosure for this sale can be found here. Insiders have sold 4,536 shares of company stock valued at $451,212 in the last three months. 3.20% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in SNX. FMR LLC increased its position in shares of SYNNEX by 17.8% during the first quarter. FMR LLC now owns 7,661,397 shares of the business services provider’s stock valued at $730,821,000 after acquiring an additional 1,158,462 shares in the last quarter. Geode Capital Management LLC boosted its holdings in SYNNEX by 55.4% in the fourth quarter. Geode Capital Management LLC now owns 548,035 shares of the business services provider’s stock worth $44,302,000 after purchasing an additional 195,366 shares during the last quarter. Clark Capital Management Group Inc. boosted its holdings in SYNNEX by 544.2% in the first quarter. Clark Capital Management Group Inc. now owns 210,124 shares of the business services provider’s stock worth $20,044,000 after purchasing an additional 177,505 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in SYNNEX by 120.9% in the second quarter. Renaissance Technologies LLC now owns 316,428 shares of the business services provider’s stock worth $31,137,000 after purchasing an additional 173,200 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new stake in SYNNEX in the second quarter worth approximately $12,566,000. 76.84% of the stock is owned by institutional investors.

Shares of NYSE SNX traded down $0.07 during midday trading on Tuesday, reaching $98.04. The company’s stock had a trading volume of 6,832 shares, compared to its average volume of 244,868. SYNNEX has a 12-month low of $71.82 and a 12-month high of $109.62. The firm has a 50 day moving average price of $88.14 and a 200-day moving average price of $95.61. The stock has a market capitalization of $5.03 billion, a P/E ratio of 9.00, a PEG ratio of 0.75 and a beta of 0.99. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.57 and a quick ratio of 0.99.

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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Earnings History and Estimates for SYNNEX (NYSE:SNX)

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