SYNNEX (NYSE:SNX) Posts Earnings Results, Beats Expectations By $1.38 EPS

SYNNEX (NYSE:SNX) announced its quarterly earnings data on Sunday. The business services provider reported $5.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.83 by $1.38, Briefing.com reports. The firm had revenue of $7.41 billion during the quarter, compared to analyst estimates of $6.60 billion. SYNNEX had a net margin of 2.06% and a return on equity of 16.78%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the business posted $4.26 EPS.

SYNNEX stock traded up $1.28 during mid-day trading on Tuesday, reaching $88.97. 28,948 shares of the company traded hands, compared to its average volume of 523,133. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.52 and a quick ratio of 1.02. The firm’s 50 day moving average price is $95.99 and its 200 day moving average price is $123.28. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 9.40, a P/E/G ratio of 1.30 and a beta of 1.51. SYNNEX has a 52-week low of $21.25 and a 52-week high of $89.86.

A number of equities research analysts have recently weighed in on the stock. BidaskClub upgraded shares of SYNNEX from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 7th. ValuEngine raised shares of SYNNEX from a “sell” rating to a “hold” rating in a research note on Tuesday, January 5th. Zacks Investment Research downgraded shares of SYNNEX from a “hold” rating to a “sell” rating and set a $80.00 target price on the stock. in a research note on Wednesday, December 2nd. Raymond James lifted their target price on shares of SYNNEX from $80.00 to $100.00 and gave the stock a “strong-buy” rating in a research note on Tuesday. Finally, TheStreet downgraded shares of SYNNEX from a “b-” rating to a “c” rating in a research note on Tuesday, December 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $118.11.

In other news, Director Kevin M. Murai sold 5,324 shares of the business’s stock in a transaction on Wednesday, October 21st. The shares were sold at an average price of $143.55, for a total transaction of $764,260.20. Following the sale, the director now owns 7,739 shares in the company, valued at approximately $1,110,933.45. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kevin M. Murai sold 4,600 shares of the business’s stock in a transaction on Friday, November 13th. The shares were sold at an average price of $148.96, for a total transaction of $685,216.00. Following the sale, the director now owns 10,114 shares in the company, valued at approximately $1,506,581.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,153 shares of company stock worth $3,352,059. Insiders own 2.80% of the company’s stock.

About SYNNEX

SYNNEX Corporation provides business process services in the United States and internationally. 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 for SYNNEX (NYSE:SNX)

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