SYNNEX (SNX) Updates Q1 Earnings Guidance

Share on StockTwits

SYNNEX (NYSE:SNX) issued an update on its first quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.70-2.80 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.52. The company issued revenue guidance of $5.225-5.425 billion, compared to the consensus revenue estimate of $5.01 billion.SYNNEX also updated its Q1 2019 guidance to $2.70-2.80 EPS.

SNX opened at $86.83 on Friday. The firm has a market capitalization of $4.36 billion, a PE ratio of 9.80 and a beta of 0.69. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.94 and a current ratio of 1.51. SYNNEX has a one year low of $71.82 and a one year high of $139.44.

SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Thursday, January 10th. The business services provider reported $3.65 earnings per share for the quarter, beating the consensus estimate of $3.25 by $0.40. SYNNEX had a return on equity of 17.16% and a net margin of 1.41%. The firm had revenue of $5.62 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same period in the previous year, the firm earned $2.79 earnings per share. SYNNEX’s quarterly revenue was up 5.8% on a year-over-year basis. On average, research analysts forecast that SYNNEX will post 10.51 EPS for the current year.

Several analysts have recently issued reports on the company. Zacks Investment Research downgraded SYNNEX from a buy rating to a hold rating in a research note on Wednesday, December 5th. TheStreet cut SYNNEX from a b- rating to a c+ rating in a research report on Friday, October 12th. Needham & Company LLC raised SYNNEX from a buy rating to a strong-buy rating and set a $135.00 price objective for the company in a research report on Thursday, October 4th. Stifel Nicolaus cut their price objective on SYNNEX from $130.00 to $114.00 and set a buy rating for the company in a research report on Thursday, October 4th. Finally, SunTrust Banks cut their price objective on SYNNEX to $100.00 and set a buy rating for the company in a research report on Thursday, October 4th. One analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $113.80.

In other SYNNEX news, CFO Marshall Witt sold 600 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $78.22, for a total value of $46,932.00. Following the completion of the transaction, the chief financial officer now owns 18,874 shares of the company’s stock, valued at approximately $1,476,324.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Star Developments Ltd Silver purchased 113,000 shares of the business’s stock in a transaction on Monday, October 22nd. The stock was purchased at an average cost of $80.53 per share, with a total value of $9,099,890.00. Following the acquisition, the insider now owns 5,125,080 shares in the company, valued at $412,722,692.40. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 370,331 shares of company stock valued at $29,495,099 and have sold 4,609 shares valued at $361,156. 3.20% of the stock is currently owned by insiders.

COPYRIGHT VIOLATION NOTICE: “SYNNEX (SNX) Updates Q1 Earnings Guidance” was originally published by Ticker Report and is owned by of Ticker Report. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece of content can be viewed at https://www.tickerreport.com/banking-finance/4070322/synnex-snx-updates-q1-earnings-guidance.html.

SYNNEX Company Profile

SYNNEX Corporation provides business process services in North and South America, the Asia-Pacific, Europe, and internationally. It operates in two segments, Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals; information technology systems, including data center server and storage solutions; system components; software; networking/communications/security equipment; consumer electronics; and complementary products.

Further Reading: Investing in Growth Stocks

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.

Latest News

Zacks: Analysts Expect Select Medical Holdings Co.  Will Announce Quarterly Sales of $1.28 Billion
Zacks: Analysts Expect Select Medical Holdings Co. Will Announce Quarterly Sales of $1.28 Billion
Zacks: Brokerages Anticipate Syros Pharmaceuticals Inc  Will Post Earnings of -$0.50 Per Share
Zacks: Brokerages Anticipate Syros Pharmaceuticals Inc Will Post Earnings of -$0.50 Per Share
Safe Trade Coin Market Capitalization Tops $23,428.00
Safe Trade Coin Market Capitalization Tops $23,428.00
Storm  One Day Volume Hits $2.09 Million
Storm One Day Volume Hits $2.09 Million
Brokerages Set Bellatrix Exploration Ltd  PT at $0.38
Brokerages Set Bellatrix Exploration Ltd PT at $0.38
Lamar Advertising Co  Given Average Rating of “Hold” by Analysts
Lamar Advertising Co Given Average Rating of “Hold” by Analysts


Leave a Reply

© 2006-2019 Ticker Report