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.

SNX has been the subject of a number of research reports. ValuEngine cut Synnex from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. Stifel Nicolaus reissued a “buy” rating and set a $132.00 price objective on shares of Synnex in a research report on Tuesday, October 17th. SunTrust Banks initiated coverage on Synnex in a research report on Thursday, December 7th. They set a “buy” rating and a $145.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $135.00 price objective on shares of Synnex in a research report on Monday, September 18th. Finally, Citigroup lifted their price objective on Synnex from $122.00 to $130.00 and gave the company a “neutral” rating in a research report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Synnex currently has an average rating of “Buy” and a consensus price target of $136.22.

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.

ILLEGAL ACTIVITY WARNING: “Synnex Corporation (SNX) Expected to Announce Earnings of $2.69 Per Share” was first reported by Watch List News and is owned by of Watch List News. If you are accessing this report on another publication, it was copied illegally and reposted in violation of United States & international copyright law. The legal version of this report can be viewed at https://www.watchlistnews.com/synnex-corporation-snx-expected-to-announce-earnings-of-2-69-per-share/1774922.html.

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.

Get a free copy of the Zacks research report on Synnex (SNX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Synnex (NYSE:SNX)

Receive News & Ratings for Synnex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synnex and related companies with MarketBeat.com's FREE daily email newsletter.