SYNNEX Co. (NYSE:SNX) – Equities researchers at Barrington Research raised their Q2 2020 earnings per share estimates for shares of SYNNEX in a research report issued on Friday, January 10th, Zacks Investment Research reports. Barrington Research analyst V. Colicchio now forecasts that the business services provider will post earnings of $3.31 per share for the quarter, up from their prior estimate of $3.12. Barrington Research currently has a “Outperform” rating and a $150.00 price target on the stock. Barrington Research also issued estimates for SYNNEX’s Q3 2020 earnings at $3.68 EPS, Q4 2020 earnings at $4.25 EPS and FY2021 earnings at $15.12 EPS.
SYNNEX (NYSE:SNX) last released its earnings results on Thursday, January 9th. The business services provider reported $4.26 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $0.65. The business had revenue of $6.58 billion during the quarter, compared to the consensus estimate of $5.99 billion. SYNNEX had a net margin of 2.11% and a return on equity of 18.84%. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter last year, the firm earned $3.65 earnings per share.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of SYNNEX from a “hold” rating to a “strong-buy” rating and set a $153.00 target price for the company in a research report on Monday, January 13th. Citigroup lifted their price objective on shares of SYNNEX from $140.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Raymond James lifted their price objective on shares of SYNNEX from $140.00 to $165.00 and gave the company a “strong-buy” rating in a research report on Friday, January 10th. They noted that the move was a valuation call. ValuEngine raised shares of SYNNEX from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Finally, Loop Capital reissued a “buy” rating and issued a $175.00 price objective on shares of SYNNEX in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, five have given a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $155.43.
SYNNEX stock traded up $0.21 during mid-day trading on Monday, reaching $141.73. The company’s stock had a trading volume of 219,218 shares, compared to its average volume of 470,467. The company has a market capitalization of $7.31 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 0.97 and a beta of 1.01. SYNNEX has a 12 month low of $78.55 and a 12 month high of $153.07. The business’s 50 day simple moving average is $136.71 and its 200 day simple moving average is $113.67. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.06 and a current ratio of 1.62.
The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Thursday, January 23rd. This is a boost from SYNNEX’s previous quarterly dividend of $0.38. SYNNEX’s dividend payout ratio (DPR) is currently 12.07%.
In other news, Director Kevin M. Murai sold 2,408 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $138.00, for a total transaction of $332,304.00. Following the completion of the sale, the director now owns 7,863 shares in the company, valued at approximately $1,085,094. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas S. Wurster sold 2,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $123.22, for a total transaction of $246,440.00. Following the sale, the director now owns 14,390 shares of the company’s stock, valued at approximately $1,773,135.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,762 shares of company stock valued at $6,084,177. 3.20% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of SNX. CWM LLC raised its stake in SYNNEX by 187.3% in the 3rd quarter. CWM LLC now owns 227 shares of the business services provider’s stock worth $26,000 after purchasing an additional 148 shares in the last quarter. Delta Asset Management LLC TN increased its holdings in SYNNEX by 562.2% in the 4th quarter. Delta Asset Management LLC TN now owns 245 shares of the business services provider’s stock valued at $32,000 after buying an additional 208 shares during the period. CENTRAL TRUST Co increased its holdings in SYNNEX by 854.1% in the 4th quarter. CENTRAL TRUST Co now owns 582 shares of the business services provider’s stock valued at $75,000 after buying an additional 521 shares during the period. Parkside Financial Bank & Trust increased its holdings in SYNNEX by 15.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 681 shares of the business services provider’s stock valued at $88,000 after buying an additional 91 shares during the period. Finally, Advisors Preferred LLC bought a new position in SYNNEX in the 4th quarter valued at about $98,000. Institutional investors and hedge funds own 75.73% 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.