$5.52 Billion in Sales Expected for SYNNEX Co. (SNX) This Quarter

Equities research analysts expect SYNNEX Co. (NYSE:SNX) to report sales of $5.52 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for SYNNEX’s earnings, with the highest sales estimate coming in at $5.55 billion and the lowest estimate coming in at $5.47 billion. SYNNEX reported sales of $4.97 billion during the same quarter last year, which would suggest a positive year over year growth rate of 11.1%. The business is expected to issue its next quarterly earnings results on Thursday, June 27th.

On average, analysts expect that SYNNEX will report full-year sales of $22.14 billion for the current fiscal year, with estimates ranging from $22.09 billion to $22.19 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $22.61 billion, with estimates ranging from $22.32 billion to $22.88 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow SYNNEX.

SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Wednesday, March 27th. The business services provider reported $2.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.75 by $0.09. The business had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.29 billion. SYNNEX had a return on equity of 17.78% and a net margin of 1.75%. SYNNEX’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.14 earnings per share.

A number of analysts recently weighed in on SNX shares. Zacks Investment Research downgraded SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, December 5th. Cross Research upgraded SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, January 11th. ValuEngine upgraded SYNNEX from a “strong sell” rating to a “sell” rating in a report on Friday, January 11th. Citigroup upgraded SYNNEX from a “neutral” rating to a “buy” rating and set a $97.02 price objective for the company in a report on Monday, January 28th. Finally, TheStreet upgraded SYNNEX from a “c+” rating to a “b-” rating in a report on Friday, January 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $116.86.

NYSE SNX opened at $101.03 on Thursday. The firm has a market capitalization of $5.07 billion, a P/E ratio of 9.28 and a beta of 0.73. SYNNEX has a twelve month low of $71.82 and a twelve month high of $116.47. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.66 and a quick ratio of 1.03.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be issued a dividend of $0.375 per share. The ex-dividend date is Thursday, April 11th. This represents a $1.50 dividend on an annualized basis and a yield of 1.48%. SYNNEX’s payout ratio is currently 13.77%.

In other SYNNEX news, Director Andrea M. Zulberti sold 2,416 shares of the stock in a transaction dated Tuesday, January 15th. The stock was sold at an average price of $90.45, for a total transaction of $218,527.20. Following the completion of the sale, the director now directly owns 14,717 shares in the company, valued at approximately $1,331,152.65. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Marshall Witt sold 600 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $99.04, for a total value of $59,424.00. Following the sale, the chief financial officer now owns 17,693 shares of the company’s stock, valued at $1,752,314.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,216 shares of company stock valued at $393,661. Company insiders own 3.20% of the company’s stock.

Institutional investors have recently modified their holdings of the business. JOYN Advisors Inc. grew its holdings in SYNNEX by 375.0% during the 4th quarter. JOYN Advisors Inc. now owns 380 shares of the business services provider’s stock worth $31,000 after acquiring an additional 300 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of SYNNEX by 103.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 498 shares of the business services provider’s stock worth $40,000 after purchasing an additional 253 shares in the last quarter. Sage Capital Advisors llc bought a new position in shares of SYNNEX during the 4th quarter worth about $40,000. O Shaughnessy Asset Management LLC bought a new position in shares of SYNNEX during the 4th quarter worth about $70,000. Finally, Advisor Group Inc. boosted its position in shares of SYNNEX by 32.6% during the 4th quarter. Advisor Group Inc. now owns 1,816 shares of the business services provider’s stock worth $148,000 after purchasing an additional 446 shares in the last quarter. Hedge funds and other institutional investors own 77.67% 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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