Wall Street brokerages forecast that Syntel, Inc. (NASDAQ:SYNT) will post $0.42 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Syntel’s earnings. The lowest EPS estimate is $0.39 and the highest is $0.45. Syntel reported earnings per share of ($2.58) in the same quarter last year, which indicates a positive year-over-year growth rate of 116.3%. The business is scheduled to announce its next quarterly earnings report on Thursday, October 19th.

On average, analysts expect that Syntel will report full year earnings of $1.72 per share for the current year, with EPS estimates ranging from $1.67 to $1.77. For the next financial year, analysts anticipate that the business will post earnings of $1.74 per share, with EPS estimates ranging from $1.65 to $1.86. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Syntel.

Syntel (NASDAQ:SYNT) last posted its quarterly earnings data on Thursday, July 20th. The information technology services provider reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.04. Syntel had a negative net margin of 10.11% and a negative return on equity of 110.72%. The business had revenue of $226.81 million for the quarter. During the same quarter last year, the firm earned $0.70 EPS. The company’s revenue was down 7.7% on a year-over-year basis.

SYNT has been the subject of a number of recent research reports. ValuEngine downgraded Syntel from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub raised Syntel from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 28th. Zacks Investment Research raised Syntel from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $16.00 target price on shares of Syntel in a research note on Thursday, July 20th. Finally, Maxim Group reaffirmed a “hold” rating on shares of Syntel in a research note on Thursday, July 20th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Syntel currently has an average rating of “Hold” and an average target price of $22.73.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYNT. Sather Financial Group Inc acquired a new position in Syntel in the 2nd quarter valued at about $8,400,000. IPG Investment Advisors LLC grew its position in Syntel by 393.7% in the 1st quarter. IPG Investment Advisors LLC now owns 527,465 shares of the information technology services provider’s stock valued at $8,877,000 after acquiring an additional 420,625 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Syntel by 75.4% in 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 acquiring an additional 397,034 shares in the last quarter. FIL Ltd grew its position in Syntel by 52.1% in the 1st quarter. FIL Ltd now owns 732,603 shares of the information technology services provider’s stock valued at $12,330,000 after acquiring an additional 250,949 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Syntel by 5.0% in 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 acquiring an additional 130,471 shares in the last quarter. 34.71% of the stock is owned by institutional investors.

Syntel (SYNT) traded down 0.33% on Friday, reaching $18.09. 781,471 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $18.44 and a 200 day moving average price of $17.63. Syntel has a one year low of $15.82 and a one year high of $43.87. The firm’s market cap is $1.51 billion.

Syntel declared that its board has authorized a stock repurchase plan on Thursday, July 20th that permits the company to repurchase $60.00 million in shares. This repurchase authorization permits the information technology services provider to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

About Syntel

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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Earnings History and Estimates for Syntel (NASDAQ:SYNT)

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