Somewhat Positive Press Coverage Somewhat Unlikely to Affect Syntel (SYNT) Stock Price
News headlines about Syntel (NASDAQ:SYNT) have been trending somewhat positive this week, Accern Sentiment Analysis reports. The research firm ranks the sentiment of press coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Syntel earned a news sentiment score of 0.16 on Accern’s scale. Accern also gave press coverage about the information technology services provider an impact score of 46.1694837317256 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Several equities research analysts have commented on the company. Zacks Investment Research raised Syntel from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Tuesday, July 25th. Robert W. Baird reissued a “hold” rating and issued a $20.00 target price on shares of Syntel in a report on Wednesday. Cowen and Company reissued a “hold” rating and issued a $18.00 target price on shares of Syntel in a report on Tuesday, August 22nd. ValuEngine downgraded Syntel from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, BidaskClub raised Syntel from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Syntel has a consensus rating of “Hold” and an average price target of $21.73.
Shares of Syntel (NASDAQ SYNT) traded up 1.55% on Thursday, hitting $19.61. The stock had a trading volume of 191,169 shares. Syntel has a 12 month low of $15.82 and a 12 month high of $27.08. The company’s 50 day moving average price is $18.57 and its 200-day moving average price is $17.77. The company’s market cap is $1.64 billion.
Syntel (NASDAQ:SYNT) last announced its earnings results on Thursday, July 20th. The information technology services provider reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.04. Syntel had a negative return on equity of 110.72% and a negative net margin of 10.11%. The firm had revenue of $226.81 million for the quarter. During the same quarter last year, the firm earned $0.70 earnings per share. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, analysts expect that Syntel will post $1.72 earnings per share for the current year.
Syntel declared that its Board of Directors has authorized a stock buyback program on Thursday, July 20th that allows the company to buyback $60.00 million in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
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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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