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.
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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