Analysts Set Expectations for Synnex Corp.’s Q1 2017 Earnings (SNX)
Synnex Corp. (NYSE:SNX) – Credit Agricole SA issued their Q1 2017 earnings estimates for Synnex Corp. in a research note issued on Tuesday. Credit Agricole SA analyst L. Miscioscia expects that the firm will earn $1.59 per share for the quarter. Credit Agricole SA has a “Underperform” rating and a $113.00 price target on the stock. Credit Agricole SA also issued estimates for Synnex Corp.’s Q2 2017 earnings at $1.73 EPS, Q3 2017 earnings at $1.95 EPS, Q4 2017 earnings at $2.28 EPS, FY2017 earnings at $7.55 EPS and FY2018 earnings at $7.87 EPS.
A number of other equities research analysts have also weighed in on SNX. Raymond James Financial Inc. lowered Synnex Corp. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Synnex Corp. in a research report on Friday, June 24th. Brean Capital reaffirmed a “buy” rating and set a $108.00 target price (up from $97.00) on shares of Synnex Corp. in a research report on Friday, June 24th. Zacks Investment Research lowered Synnex Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, June 30th. Finally, Stifel Nicolaus lifted their target price on Synnex Corp. from $98.00 to $104.00 and gave the company a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $106.71.
Synnex Corp. (NYSE:SNX) opened at 113.45 on Thursday. Synnex Corp. has a one year low of $75.87 and a one year high of $118.80. The stock’s 50 day moving average price is $105.90 and its 200 day moving average price is $95.37. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 22.47 and a beta of 1.04.
Synnex Corp. (NYSE:SNX) last issued its quarterly earnings data on Monday, September 26th. The company reported $1.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.17. Synnex Corp. had a return on equity of 13.47% and a net margin of 1.54%. The company earned $3.67 billion during the quarter. During the same period in the previous year, the firm posted $1.47 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC increased its position in shares of Synnex Corp. by 37.5% in the second quarter. Acrospire Investment Management LLC now owns 1,100 shares of the company’s stock worth $104,000 after buying an additional 300 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Synnex Corp. by 85.7% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,300 shares of the company’s stock worth $123,000 after buying an additional 600 shares in the last quarter. Societe Generale bought a new position in shares of Synnex Corp. during the second quarter worth about $156,000. LS Investment Advisors LLC increased its position in shares of Synnex Corp. by 69.0% in the second quarter. LS Investment Advisors LLC now owns 1,734 shares of the company’s stock worth $164,000 after buying an additional 708 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new position in shares of Synnex Corp. during the second quarter worth about $175,000. Institutional investors and hedge funds own 75.41% of the company’s stock.
In other news, Director Duane E. Zitzner sold 1,000 shares of Synnex Corp. stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $100.00, for a total value of $100,000.00. Following the transaction, the director now directly owns 20,716 shares in the company, valued at approximately $2,071,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Peter Larocque sold 996 shares of Synnex Corp. stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $92.45, for a total value of $92,080.20. Following the completion of the transaction, the insider now owns 25,884 shares in the company, valued at $2,392,975.80. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 14th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, October 12th. This is an increase from Synnex Corp.’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.88%. Synnex Corp.’s dividend payout ratio (DPR) is currently 15.07%.
Synnex Corp. Company Profile
SYNNEX Corporation is a process services company. The Company offers a range of services to resellers, retailers, original equipment manufacturers (OEMs), financial and insurance institutions, and other industry verticals across the world. The Company operates in two segments: Technology Solutions and Concentrix.
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