Wall Street analysts expect SYNNEX Co. (NYSE:SNX) to post $5.53 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for SYNNEX’s earnings. The highest sales estimate is $5.58 billion and the lowest is $5.47 billion. SYNNEX posted sales of $4.97 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.3%. The business is expected to report its next quarterly earnings results on Thursday, June 27th.

According to Zacks, analysts expect that SYNNEX will report full year sales of $22.21 billion for the current financial year, with estimates ranging from $22.09 billion to $22.38 billion. For the next year, analysts anticipate that the company will post sales of $22.60 billion, with estimates ranging from $22.32 billion to $22.85 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that that provide coverage for SYNNEX.

SYNNEX (NYSE:SNX) last issued its earnings results on Wednesday, March 27th. The business services provider reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $0.09. The company had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.29 billion. SYNNEX had a net margin of 1.75% and a return on equity of 17.78%. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter last year, the business posted $2.14 EPS.

SNX has been the subject of a number of research reports. Citigroup set a $140.00 target price on shares of SYNNEX and gave the company a “buy” rating in a research note on Friday, April 12th. Raymond James set a $140.00 target price on shares of SYNNEX and gave the company a “buy” rating in a research note on Thursday, March 28th. Zacks Investment Research raised shares of SYNNEX from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a research note on Tuesday, March 26th. TheStreet lowered shares of SYNNEX from a “b” rating to a “c+” rating in a research note on Tuesday, April 2nd. Finally, ValuEngine raised shares of SYNNEX from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $123.00.

In related news, Director Kevin M. Murai sold 5,000 shares of SYNNEX stock in a transaction on Friday, April 5th. The shares were sold at an average price of $103.51, for a total value of $517,550.00. Following the transaction, the director now owns 19,362 shares in the company, valued at approximately $2,004,160.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dwight Steffensen sold 1,295 shares of SYNNEX stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $100.76, for a total transaction of $130,484.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,553 shares of company stock valued at $2,053,720. 3.20% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nordea Investment Management AB increased its holdings in shares of SYNNEX by 6.6% during the 3rd quarter. Nordea Investment Management AB now owns 74,861 shares of the business services provider’s stock worth $6,340,000 after purchasing an additional 4,655 shares during the period. Morgan Stanley increased its holdings in shares of SYNNEX by 13.0% during the 3rd quarter. Morgan Stanley now owns 126,640 shares of the business services provider’s stock worth $10,726,000 after purchasing an additional 14,531 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of SYNNEX by 34.1% during the 4th quarter. Louisiana State Employees Retirement System now owns 11,000 shares of the business services provider’s stock worth $889,000 after purchasing an additional 2,800 shares during the period. Oakbrook Investments LLC bought a new position in shares of SYNNEX during the 4th quarter worth about $234,000. Finally, James Investment Research Inc. increased its holdings in shares of SYNNEX by 39.0% during the 4th quarter. James Investment Research Inc. now owns 24,692 shares of the business services provider’s stock worth $1,996,000 after purchasing an additional 6,922 shares during the period. Hedge funds and other institutional investors own 78.39% of the company’s stock.

Shares of NYSE:SNX traded up $1.21 during trading on Friday, reaching $94.45. 211,489 shares of the company traded hands, compared to its average volume of 358,587. The firm has a market capitalization of $4.84 billion, a P/E ratio of 8.67, a price-to-earnings-growth ratio of 0.68 and a beta of 0.78. SYNNEX has a 1-year low of $71.82 and a 1-year high of $116.47. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.81.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Thursday, April 11th. SYNNEX’s payout ratio is presently 13.77%.

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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