Brokerages Anticipate SYNNEX Co. (NYSE:SNX) Will Announce Quarterly Sales of $5.68 Billion

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Equities analysts expect SYNNEX Co. (NYSE:SNX) to report sales of $5.68 billion for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for SYNNEX’s earnings, with the highest sales estimate coming in at $5.70 billion and the lowest estimate coming in at $5.64 billion. SYNNEX reported sales of $4.91 billion in the same quarter last year, which would indicate a positive year over year growth rate of 15.7%. The company is expected to report its next earnings results after the market closes on Tuesday, September 24th.

On average, analysts expect that SYNNEX will report full year sales of $22.56 billion for the current fiscal year, with estimates ranging from $22.50 billion to $22.61 billion. For the next fiscal year, analysts forecast that the company will post sales of $22.84 billion, with estimates ranging from $22.48 billion to $23.02 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover SYNNEX.

SYNNEX (NYSE:SNX) last posted its earnings results on Tuesday, June 25th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.15. SYNNEX had a return on equity of 17.65% and a net margin of 1.79%. The firm had revenue of $5.72 billion for the quarter, compared to analyst estimates of $5.53 billion.

SNX has been the subject of a number of research reports. Bank of America initiated coverage on shares of SYNNEX in a research report on Friday, September 6th. They set a “buy” rating and a $120.00 price target for the company. Barrington Research set a $118.00 price objective on shares of SYNNEX and gave the company a “buy” rating in a research note on Friday, July 12th. ValuEngine lowered shares of SYNNEX from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research lowered shares of SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $122.25.

SYNNEX stock traded down $0.79 during trading on Tuesday, reaching $97.32. 225,703 shares of the company’s stock were exchanged, compared to its average volume of 247,323. The company’s 50-day moving average is $88.10 and its two-hundred day moving average is $95.59. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 1.57. SYNNEX has a 52-week low of $71.82 and a 52-week high of $109.62. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of 8.94, a PEG ratio of 0.78 and a beta of 0.99.

In related news, CFO Marshall Witt sold 285 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $98.50, for a total transaction of $28,072.50. Following the transaction, the chief financial officer now owns 15,008 shares in the company, valued at $1,478,288. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Simon Leung sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $100.03, for a total transaction of $100,030.00. Following the transaction, the senior vice president now owns 21,257 shares in the company, valued at approximately $2,126,337.71. The disclosure for this sale can be found here. Insiders have sold 4,536 shares of company stock worth $451,212 in the last quarter. Company insiders own 3.20% of the company’s stock.

Large investors have recently modified their holdings of the stock. CENTRAL TRUST Co boosted its holdings in SYNNEX by 290.7% during the second quarter. CENTRAL TRUST Co now owns 336 shares of the business services provider’s stock worth $32,000 after purchasing an additional 250 shares during the last quarter. First National Bank of South Miami purchased a new position in SYNNEX during the 2nd quarter worth $52,000. Optimum Investment Advisors boosted its holdings in SYNNEX by 5,000.0% during the 1st quarter. Optimum Investment Advisors now owns 612 shares of the business services provider’s stock worth $58,000 after acquiring an additional 600 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in SYNNEX during the 2nd quarter worth $79,000. Finally, Investors Research Corp boosted its holdings in shares of SYNNEX by 17.6% in the 2nd quarter. Investors Research Corp now owns 843 shares of the business services provider’s stock worth $83,000 after buying an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 76.84% of the company’s stock.

About SYNNEX

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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