Synnex Corporation (SNX) Getting Somewhat Favorable Media Coverage, Study Shows
News articles about Synnex Corporation (NYSE:SNX) have trended somewhat positive on Monday, Accern reports. The research group identifies positive and negative news coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Synnex Corporation earned a coverage optimism score of 0.16 on Accern’s scale. Accern also assigned news stories about the business services provider an impact score of 45.4778373258411 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
These are some of the media headlines that may have effected Accern Sentiment’s analysis:
- Synnex Corporation (SNX) Receives New Coverage from Analysts at Pivotal Research (americanbankingnews.com)
- Pivotal Research Starts SYNNEX Corp. (SNX) at Hold (streetinsider.com)
- SYNNEX Corp. :SNX-US: Earnings Analysis: Q3, 2017 By the Numbers : October 4, 2017 (finance.yahoo.com)
- Concentrix Opens New State-of-the-Art European Customer Engagement Centre (finance.yahoo.com)
- ETFs with exposure to SYNNEX Corp. : October 5, 2017 (finance.yahoo.com)
A number of research firms recently weighed in on SNX. ValuEngine upgraded Synnex Corporation from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Pivotal Research began coverage on Synnex Corporation in a report on Friday. They issued a “hold” rating and a $137.00 price target on the stock. Citigroup Inc. upped their price target on Synnex Corporation from $122.00 to $130.00 and gave the stock a “neutral” rating in a report on Tuesday, September 26th. Needham & Company LLC increased their target price on Synnex Corporation from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, September 26th. Finally, BidaskClub cut Synnex Corporation from a “hold” rating to a “sell” rating in a report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $135.13.
Shares of Synnex Corporation (NYSE:SNX) opened at 129.94 on Monday. Synnex Corporation has a one year low of $100.06 and a one year high of $131.35. The firm has a market cap of $5.19 billion, a PE ratio of 17.63 and a beta of 1.08. The firm’s 50-day moving average price is $118.41 and its 200-day moving average price is $115.43.
Synnex Corporation (NYSE:SNX) last posted its quarterly earnings results on Monday, September 25th. The business services provider reported $2.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.19. The company had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4 billion. Synnex Corporation had a return on equity of 16.58% and a net margin of 1.89%. The firm’s revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 earnings per share. Equities research analysts expect that Synnex Corporation will post $8.76 earnings per share for the current fiscal year.
Synnex Corporation declared that its board has authorized a stock repurchase program on Thursday, June 22nd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the business services provider to repurchase up to 6.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 13th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.20 annualized dividend and a dividend yield of 0.92%. This is a boost from Synnex Corporation’s previous quarterly dividend of $0.25. Synnex Corporation’s dividend payout ratio is currently 13.57%.
In other Synnex Corporation news, CEO Kevin M. Murai sold 2,000 shares of Synnex Corporation stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $118.75, for a total transaction of $237,500.00. Following the transaction, the chief executive officer now directly owns 142,311 shares in the company, valued at approximately $16,899,431.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Simon Leung sold 759 shares of Synnex Corporation stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $119.77, for a total transaction of $90,905.43. Following the transaction, the senior vice president now owns 25,053 shares in the company, valued at $3,000,597.81. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,796 shares of company stock worth $2,373,169. Corporate insiders own 3.20% of the company’s stock.
Synnex Corporation Company Profile
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.
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