Synnex Corporation (NYSE:SNX) will be releasing its earnings data after the market closes on Monday, September 25th. Analysts expect Synnex Corporation to post earnings of $1.98 per share for the quarter. Synnex Corporation has set its Q3 guidance at $1.94-2.02 EPS.

Synnex Corporation (NYSE:SNX) last issued its earnings results on Thursday, June 22nd. The business services provider reported $2.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.29. Synnex Corporation had a return on equity of 16.29% and a net margin of 1.86%. The firm had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter last year, the business earned $1.37 earnings per share. The company’s revenue was up 16.5% compared to the same quarter last year. On average, analysts expect Synnex Corporation to post $8.44 EPS for the current fiscal year and $8.92 EPS for the next fiscal year.

Synnex Corporation (NYSE SNX) opened at 116.15 on Monday. Synnex Corporation has a one year low of $100.06 and a one year high of $131.35. The firm’s 50-day moving average price is $116.29 and its 200-day moving average price is $114.90. The company has a market cap of $4.64 billion, a PE ratio of 16.67 and a beta of 1.05.

Synnex Corporation declared that its Board of Directors has initiated a share repurchase program on Thursday, June 22nd that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the business services provider to reacquire up to 6.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

SNX has been the subject of a number of recent research reports. ValuEngine cut Synnex Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. BidaskClub cut Synnex Corporation from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Citigroup Inc. decreased their price target on Synnex Corporation from $130.00 to $122.00 and set a “neutral” rating for the company in a research note on Friday, June 9th. Zacks Investment Research cut Synnex Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $128.00 price target (up previously from $120.00) on shares of Synnex Corporation in a research note on Friday, June 9th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Synnex Corporation has a consensus rating of “Hold” and a consensus target price of $128.57.

COPYRIGHT VIOLATION WARNING: This article was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this article on another site, it was stolen and reposted in violation of US & international copyright & trademark law. The legal version of this article can be viewed at https://www.thecerbatgem.com/2017/09/18/synnex-corporation-snx-to-release-earnings-on-monday.html.

In other news, Director Andrea M. Zulberti sold 2,500 shares of the stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $126.00, for a total value of $315,000.00. Following the completion of the sale, the director now owns 14,922 shares of the company’s stock, valued at $1,880,172. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Fred A. Breidenbach sold 318 shares of the stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $125.00, for a total value of $39,750.00. Following the completion of the sale, the director now directly owns 19,408 shares of the company’s stock, valued at approximately $2,426,000. The disclosure for this sale can be found here. In the last three months, insiders sold 26,172 shares of company stock valued at $3,128,254. Insiders own 3.20% of the company’s stock.

About Synnex Corporation

Synnex Corporation is a business process services company. The Company provides a range of distribution, logistics and integration services for the technology industry and providing outsourced services focused on customer engagement strategy. The Company operates in two segments: Technology Solutions and Concentrix.

Earnings History for Synnex Corporation (NYSE:SNX)

Receive News & Stock Ratings for Synnex Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synnex Corporation and related stocks with our FREE daily email newsletter.