Synacor (SYNC) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

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Synacor (NASDAQ:SYNC) posted its quarterly earnings data on Wednesday. The information services provider reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02, Morningstar.com reports. Synacor had a negative net margin of 4.84% and a negative return on equity of 13.66%. The company had revenue of $39.40 million during the quarter. Synacor updated its Q1 2019 guidance to EPS and its FY 2019 guidance to EPS.

Shares of NASDAQ SYNC traded up $0.02 on Thursday, reaching $1.84. 19,932 shares of the company traded hands, compared to its average volume of 41,347. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.25 and a quick ratio of 1.25. Synacor has a fifty-two week low of $1.35 and a fifty-two week high of $2.50. The company has a market cap of $70.98 million, a P/E ratio of -6.81 and a beta of 0.50.

Separately, Zacks Investment Research downgraded shares of Synacor from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $3.50.

Large investors have recently modified their holdings of the company. Prescott Group Capital Management L.L.C. purchased a new stake in shares of Synacor during the 4th quarter worth about $711,000. Renaissance Technologies LLC grew its holdings in shares of Synacor by 4.2% during the 3rd quarter. Renaissance Technologies LLC now owns 1,437,200 shares of the information services provider’s stock worth $2,300,000 after purchasing an additional 57,900 shares during the period. Cowen Prime Services LLC grew its holdings in shares of Synacor by 5.8% during the 4th quarter. Cowen Prime Services LLC now owns 330,225 shares of the information services provider’s stock worth $489,000 after purchasing an additional 18,074 shares during the period. Finally, Emancipation Management LLC grew its holdings in shares of Synacor by 2.1% during the 4th quarter. Emancipation Management LLC now owns 626,808 shares of the information services provider’s stock worth $928,000 after purchasing an additional 12,700 shares during the period. Institutional investors and hedge funds own 26.80% of the company’s stock.

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Synacor Company Profile

Synacor, Inc operates as a technology development, multiplatform services, and revenue partner for video, Internet, and communications providers; and device manufacturers, governments, and enterprises. It enables its customers to provide their consumers engaging, multiscreen experiences with products that require scale, and actionable data and implementation.

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Earnings History for Synacor (NASDAQ:SYNC)

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