Analysts expect that Syntel, Inc. (NASDAQ:SYNT) will announce $214.93 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Syntel’s earnings, with estimates ranging from $211.90 million to $219.83 million. Syntel posted sales of $237.89 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 9.7%. The business is expected to announce its next quarterly earnings results on Thursday, February 15th.
On average, analysts expect that Syntel will report full-year sales of $214.93 million for the current financial year, with estimates ranging from $896.00 million to $903.85 million. For the next financial year, analysts anticipate that the company will post sales of $893.44 million per share, with estimates ranging from $880.00 million to $922.84 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Syntel.
Syntel (NASDAQ:SYNT) last issued its quarterly earnings results on Tuesday, October 17th. The information technology services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.17. Syntel had a negative return on equity of 137.94% and a net margin of 18.64%. The firm had revenue of $231.34 million for the quarter. During the same period in the previous year, the business posted $0.63 earnings per share. The firm’s quarterly revenue was down 4.1% on a year-over-year basis.
SYNT has been the topic of a number of research analyst reports. ValuEngine lowered Syntel from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research downgraded Syntel from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. Cantor Fitzgerald restated a “hold” rating and issued a $16.00 price objective on shares of Syntel in a report on Thursday, July 20th. Cowen and Company restated a “hold” rating and issued a $18.00 price objective on shares of Syntel in a report on Thursday, October 12th. Finally, TheStreet upgraded Syntel from a “d+” rating to a “c” rating in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $23.10.
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Several large investors have recently made changes to their positions in SYNT. Sather Financial Group Inc purchased a new stake in shares of Syntel during the 2nd quarter valued at about $8,400,000. Dimensional Fund Advisors LP raised its holdings in shares of Syntel by 75.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 923,431 shares of the information technology services provider’s stock valued at $15,661,000 after buying an additional 397,034 shares during the period. Vanguard Group Inc. raised its holdings in shares of Syntel by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 2,723,937 shares of the information technology services provider’s stock valued at $46,198,000 after buying an additional 130,471 shares during the period. Bridge City Capital LLC purchased a new stake in shares of Syntel during the 2nd quarter valued at about $1,771,000. Finally, Teachers Advisors LLC raised its holdings in shares of Syntel by 128.4% during the 2nd quarter. Teachers Advisors LLC now owns 144,065 shares of the information technology services provider’s stock valued at $2,443,000 after buying an additional 80,977 shares during the period. Institutional investors and hedge funds own 35.08% of the company’s stock.
Shares of Syntel (SYNT) opened at $25.08 on Wednesday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of -5.69. Syntel has a 52 week low of $15.82 and a 52 week high of $25.80. The stock has a market capitalization of $1,952.04, a PE ratio of 11.90, a price-to-earnings-growth ratio of 1.26 and a beta of 1.09.
Syntel announced that its Board of Directors has approved a stock repurchase plan on Thursday, July 20th that authorizes the company to buyback $60.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
Syntel Company Profile
Syntel, Inc (Syntel) is a global provider of digital transformation, information technology (IT) and knowledge process outsourcing (KPO) services. The Company operates through five segments: Banking and Financial Services, Healthcare and Life Sciences, Insurance, Manufacturing, and Retail, Logistics and Telecom.
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