SYNNEX (NYSE:SNX) Issues Q3 Earnings Guidance

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SYNNEX (NYSE:SNX) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $2.80-2.92 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.79. The company issued revenue guidance of $5.55-5.85 billion, compared to the consensus revenue estimate of $5.58 billion.

SNX has been the subject of several research analyst reports. ValuEngine lowered shares of SYNNEX from a sell rating to a strong sell rating in a research report on Tuesday, March 5th. TheStreet downgraded shares of SYNNEX from a b rating to a c+ rating in a research report on Tuesday, April 2nd. Zacks Investment Research upgraded shares of SYNNEX from a hold rating to a buy rating and set a $102.00 price objective on the stock in a research report on Tuesday, March 26th. Raymond James set a $140.00 target price on shares of SYNNEX and gave the company a buy rating in a research note on Thursday, March 28th. Finally, Barrington Research initiated coverage on shares of SYNNEX in a research note on Thursday, April 4th. They issued an outperform rating on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $122.38.

SNX stock opened at $99.38 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.81. SYNNEX has a fifty-two week low of $71.82 and a fifty-two week high of $111.74. The company has a market cap of $4.71 billion, a PE ratio of 9.13, a price-to-earnings-growth ratio of 0.64 and a beta of 0.95. The stock’s fifty day moving average price is $94.70.

SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Tuesday, June 25th. The business services provider reported $2.86 EPS for the quarter, beating the Zacks’ consensus estimate of $2.71 by $0.15. The firm had revenue of $5.72 billion for the quarter, compared to analyst estimates of $5.53 billion. SYNNEX had a return on equity of 18.29% and a net margin of 1.79%. Equities research analysts expect that SYNNEX will post 11.91 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.50 annualized dividend and a yield of 1.51%. SYNNEX’s dividend payout ratio (DPR) is currently 13.77%.

In related news, SVP Simon Leung sold 1,000 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $100.16, for a total transaction of $100,160.00. Following the sale, the senior vice president now directly owns 23,043 shares in the company, valued at approximately $2,307,986.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Marshall Witt sold 600 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $96.44, for a total value of $57,864.00. Following the completion of the transaction, the chief financial officer now owns 17,093 shares in the company, valued at $1,648,448.92. The disclosure for this sale can be found here. In the last three months, insiders sold 19,553 shares of company stock worth $2,046,328. Insiders own 3.20% of the company’s stock.

SYNNEX Company Profile

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

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Earnings History and Estimates for SYNNEX (NYSE:SNX)

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