Synnex Corporation (SNX) Expected to Announce Earnings of $2.69 Per Share
Brokerages expect Synnex Corporation (NYSE:SNX) to report earnings per share of $2.69 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Synnex’s earnings, with the lowest EPS estimate coming in at $2.66 and the highest estimate coming in at $2.71. Synnex reported earnings per share of $2.57 during the same quarter last year, which indicates a positive year-over-year growth rate of 4.7%. The company is expected to issue its next earnings results on Tuesday, January 9th.
According to Zacks, analysts expect that Synnex will report full year earnings of $8.78 per share for the current fiscal year, with EPS estimates ranging from $8.72 to $8.86. For the next financial year, analysts forecast that the business will post earnings of $9.60 per share, with EPS estimates ranging from $9.52 to $9.68. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Synnex.
Synnex (NYSE:SNX) last issued its quarterly earnings results on Monday, September 25th. The business services provider reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.19. Synnex had a return on equity of 16.58% and a net margin of 1.89%. The business had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4 billion. During the same quarter in the previous year, the company posted $1.73 earnings per share. Synnex’s revenue for the quarter was up 16.5% compared to the same quarter last year.
In other Synnex news, Director Thomas S. Wurster sold 300 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $134.05, for a total value of $40,215.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin M. Murai sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $130.37, for a total value of $260,740.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,721 shares of company stock valued at $1,667,635. Insiders own 3.20% of the company’s stock.
Several large investors have recently made changes to their positions in SNX. FMR LLC lifted its position in shares of Synnex by 5.7% in the second quarter. FMR LLC now owns 5,587,157 shares of the business services provider’s stock worth $670,236,000 after buying an additional 302,301 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Synnex by 189.1% during the 3rd quarter. Victory Capital Management Inc. now owns 439,603 shares of the business services provider’s stock worth $55,614,000 after purchasing an additional 287,522 shares during the last quarter. Teachers Advisors LLC lifted its position in shares of Synnex by 190.5% during the 2nd quarter. Teachers Advisors LLC now owns 251,605 shares of the business services provider’s stock worth $30,183,000 after purchasing an additional 165,008 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Synnex by 13.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,315,521 shares of the business services provider’s stock worth $157,810,000 after purchasing an additional 154,174 shares during the last quarter. Finally, Voya Investment Management LLC lifted its position in shares of Synnex by 972.2% during the 2nd quarter. Voya Investment Management LLC now owns 122,360 shares of the business services provider’s stock worth $14,678,000 after purchasing an additional 110,948 shares during the last quarter. 71.68% of the stock is owned by institutional investors.
Shares of Synnex (NYSE SNX) traded up $0.86 during mid-day trading on Friday, hitting $137.21. The stock had a trading volume of 182,700 shares, compared to its average volume of 200,782. Synnex has a twelve month low of $101.48 and a twelve month high of $137.80. 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 stock has a market capitalization of $5,449.25, a P/E ratio of 15.80 and a beta of 1.08.
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.
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