SYNNEX (NYSE:SNX) Releases Q3 2021 Earnings Guidance

SYNNEX (NYSE:SNX) updated its third quarter 2021 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.900-$2.100 for the period, compared to the Thomson Reuters consensus estimate of $1.990. The company issued revenue guidance of $4.95 billion-$5.45 billion, compared to the consensus revenue estimate of $5.10 billion.

Several research firms recently commented on SNX. boosted their target price on SYNNEX from $120.00 to $155.00 and gave the stock a buy rating in a research report on Monday, May 24th. Raymond James boosted their target price on SYNNEX from $125.00 to $140.00 and gave the stock a strong-buy rating in a research report on Friday, June 25th. Citigroup restated a buy rating and set a $155.00 target price (up from $120.00) on shares of SYNNEX in a research report on Monday, May 24th. Barrington Research boosted their target price on SYNNEX from $130.00 to $140.00 and gave the stock an outperform rating in a research report on Monday, June 28th. Finally, Zacks Investment Research upgraded SYNNEX from a hold rating to a buy rating and set a $114.00 price objective for the company in a report on Wednesday, March 24th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $131.00.

Shares of SNX traded up $1.08 during midday trading on Thursday, reaching $115.84. The stock had a trading volume of 4,792 shares, compared to its average volume of 303,938. The firm has a market capitalization of $6.02 billion, a P/E ratio of 11.24, a price-to-earnings-growth ratio of 1.34 and a beta of 1.72. SYNNEX has a 12-month low of $49.24 and a 12-month high of $130.55. The business has a 50-day moving average price of $121.84. The company has a quick ratio of 1.07, a current ratio of 1.70 and a debt-to-equity ratio of 0.66.

SYNNEX (NYSE:SNX) last issued its earnings results on Wednesday, June 23rd. The business services provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.16. The company had revenue of $5.86 billion during the quarter, compared to analysts’ expectations of $4.96 billion. SYNNEX had a return on equity of 19.97% and a net margin of 2.15%. SYNNEX’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.26 EPS. As a group, equities analysts forecast that SYNNEX will post 8.14 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 30th. Investors of record on Friday, July 16th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.69%. The ex-dividend date is Thursday, July 15th. SYNNEX’s dividend payout ratio is presently 5.85%.

In other SYNNEX news, Director Kevin M. Murai sold 4,275 shares of the company’s stock in a transaction that occurred on Wednesday, April 28th. The stock was sold at an average price of $123.76, for a total transaction of $529,074.00. Following the completion of the transaction, the director now owns 5,127 shares of the company’s stock, valued at approximately $634,517.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann F. Vezina sold 2,196 shares of the company’s stock in a transaction that occurred on Wednesday, June 30th. The shares were sold at an average price of $121.70, for a total value of $267,253.20. The disclosure for this sale can be found here. Insiders have sold a total of 31,320 shares of company stock valued at $3,817,530 over the last 90 days. 3.00% of the stock is currently owned by company insiders.

SYNNEX Company Profile

SYNNEX Corporation provides business process services in the United States and internationally. The company distributes peripherals; and information technology systems, including system components, software, networking, communications and security equipment, consumer electronics, and complementary products, as well as designs and integrates data center equipment.

Further Reading: Liquidity

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