$1.15 Billion in Sales Expected for Syneos Health Inc (NASDAQ:SYNH) This Quarter

Wall Street analysts expect that Syneos Health Inc (NASDAQ:SYNH) will post $1.15 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Syneos Health’s earnings, with estimates ranging from $1.14 billion to $1.16 billion. Syneos Health reported sales of $1.07 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.5%. The business is scheduled to issue its next earnings results before the market opens on Tuesday, August 6th.

On average, analysts expect that Syneos Health will report full-year sales of $4.67 billion for the current year, with estimates ranging from $4.66 billion to $4.70 billion. For the next financial year, analysts expect that the business will post sales of $4.97 billion, with estimates ranging from $4.93 billion to $5.05 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Syneos Health.

Syneos Health (NASDAQ:SYNH) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. Syneos Health had a net margin of 0.42% and a return on equity of 9.55%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year.

A number of equities research analysts recently weighed in on the stock. Barclays reaffirmed a “hold” rating and set a $48.00 price objective on shares of Syneos Health in a research report on Wednesday, April 17th. ValuEngine cut shares of Syneos Health from a “buy” rating to a “hold” rating in a research report on Saturday, April 13th. Finally, Zacks Investment Research upgraded shares of Syneos Health from a “sell” rating to a “hold” rating in a research report on Friday, May 24th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Syneos Health currently has a consensus rating of “Buy” and a consensus price target of $53.33.

Shares of NASDAQ:SYNH traded down $2.10 during trading on Thursday, reaching $48.99. 369,999 shares of the company’s stock traded hands, compared to its average volume of 643,357. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.02 and a quick ratio of 1.02. Syneos Health has a 12 month low of $36.26 and a 12 month high of $56.34. The company’s 50 day moving average is $49.30. The stock has a market cap of $5.12 billion, a PE ratio of 18.70, a P/E/G ratio of 1.76 and a beta of 1.53.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. ClariVest Asset Management LLC boosted its holdings in shares of Syneos Health by 267.9% in the first quarter. ClariVest Asset Management LLC now owns 174,541 shares of the company’s stock valued at $9,035,000 after acquiring an additional 127,098 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Syneos Health by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 738,567 shares of the company’s stock valued at $29,061,000 after acquiring an additional 50,175 shares in the last quarter. Dupont Capital Management Corp boosted its holdings in shares of Syneos Health by 152.0% in the first quarter. Dupont Capital Management Corp now owns 39,606 shares of the company’s stock valued at $2,050,000 after acquiring an additional 23,889 shares in the last quarter. Gotham Asset Management LLC boosted its holdings in shares of Syneos Health by 328.0% in the fourth quarter. Gotham Asset Management LLC now owns 48,619 shares of the company’s stock valued at $1,913,000 after acquiring an additional 37,259 shares in the last quarter. Finally, Strs Ohio boosted its holdings in shares of Syneos Health by 1.4% in the first quarter. Strs Ohio now owns 29,300 shares of the company’s stock valued at $1,516,000 after acquiring an additional 400 shares in the last quarter.

Syneos Health Company Profile

Syneos Health, Inc operates as an integrated biopharmaceutical solutions company in North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America. It operates through two segments, Clinical Solutions and Commercial Solutions. The Clinical Solutions segment offers various clinical development services spanning Phase I to Phase IV, including full-service global studies, as well as clinical monitoring, investigator recruitment, patient recruitment, data management, and study startup to assist customers with drug development process.

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Earnings History and Estimates for Syneos Health (NASDAQ:SYNH)

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