Synnex Corp. (NYSE:SNX) – Research analysts at Credit Agricole SA issued their Q1 2017 earnings per share (EPS) estimates for shares of Synnex Corp. in a report released on Tuesday. Credit Agricole SA analyst L. Miscioscia forecasts that the brokerage will post earnings per share of $1.59 for the quarter. Credit Agricole SA currently has a “Underperform” rating and a $113.00 target price on the stock. Credit Agricole SA also issued estimates for Synnex Corp.’s Q2 2017 earnings at $1.73 EPS, Q3 2017 earnings at $1.95 EPS, Q4 2017 earnings at $2.28 EPS, FY2017 earnings at $7.55 EPS and FY2018 earnings at $7.87 EPS.
A number of other research analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Synnex Corp. from a “hold” rating to a “buy” rating and set a $117.00 target price on the stock in a research note on Friday, September 9th. Stifel Nicolaus raised their target price on shares of Synnex Corp. from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Tuesday. Raymond James Financial Inc. lowered shares of Synnex Corp. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 8th. Brean Capital reiterated a “buy” rating and issued a $108.00 target price (up from $97.00) on shares of Synnex Corp. in a research note on Friday, June 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Synnex Corp. in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $106.71.
Synnex Corp. (NYSE:SNX) opened at 113.45 on Thursday. The firm has a 50-day moving average of $105.90 and a 200 day moving average of $95.37. Synnex Corp. has a 52-week low of $75.87 and a 52-week high of $118.80. The company has a market cap of $4.51 billion, a PE ratio of 22.47 and a beta of 1.04.
Synnex Corp. (NYSE:SNX) last announced its quarterly earnings data on Monday, September 26th. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.17. Synnex Corp. had a net margin of 1.54% and a return on equity of 13.47%. The business earned $3.67 billion during the quarter. During the same period in the prior year, the company earned $1.47 EPS. Synnex Corp.’s quarterly revenue was up 10.1% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 14th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, October 12th. This is an increase from Synnex Corp.’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 0.88%. Synnex Corp.’s dividend payout ratio is 15.07%.
In other news, insider Peter Larocque sold 7,000 shares of the firm’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $94.22, for a total transaction of $659,540.00. Following the completion of the transaction, the insider now directly owns 18,241 shares of the company’s stock, valued at approximately $1,718,667.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrea M. Zulberti sold 2,500 shares of the firm’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $99.36, for a total transaction of $248,400.00. Following the transaction, the director now directly owns 13,785 shares of the company’s stock, valued at $1,369,677.60. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. increased its position in Synnex Corp. by 36.0% in the first quarter. UBS Asset Management Americas Inc. now owns 37,653 shares of the company’s stock worth $3,486,000 after buying an additional 9,966 shares during the last quarter. UBS Group AG increased its position in Synnex Corp. by 153.6% in the first quarter. UBS Group AG now owns 14,731 shares of the company’s stock worth $1,364,000 after buying an additional 8,923 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Synnex Corp. during the first quarter worth approximately $238,000. Investec Asset Management LTD increased its position in Synnex Corp. by 3.1% in the first quarter. Investec Asset Management LTD now owns 528,559 shares of the company’s stock worth $48,939,000 after buying an additional 16,073 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Synnex Corp. by 834.4% in the first quarter. JPMorgan Chase & Co. now owns 517,500 shares of the company’s stock worth $47,915,000 after buying an additional 462,117 shares during the last quarter. 75.41% of the stock is owned by institutional investors.
Synnex Corp. Company Profile
SYNNEX Corporation is a process services company. The Company offers a range of services to resellers, retailers, original equipment manufacturers (OEMs), financial and insurance institutions, and other industry verticals across the world. The Company operates in two segments: Technology Solutions and Concentrix.
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