SYNNEX (NYSE:SNX) Updates Q3 2019 Earnings Guidance

SYNNEX (NYSE:SNX) issued an update on its third quarter 2019 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.80-2.92 for the period, compared to the Thomson Reuters consensus estimate of $2.79. The company issued revenue guidance of $5.55-5.85 billion, compared to the consensus revenue estimate of $5.58 billion.

Several research analysts have commented on the company. Citigroup set a $140.00 target price on SYNNEX and gave the stock a buy rating in a research note on Friday, April 12th. Raymond James reissued a buy rating on shares of Flexion Therapeutics in a report on Thursday, March 28th. ValuEngine cut Zumiez from a hold rating to a sell rating in a report on Monday, May 13th. Barrington Research set a $118.00 price objective on SYNNEX and gave the company a buy rating in a report on Friday, July 12th. Finally, TheStreet cut SYNNEX from a b rating to a c+ rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $122.57.

Shares of NYSE SNX traded up $0.27 during midday trading on Thursday, hitting $95.54. The company’s stock had a trading volume of 270,730 shares, compared to its average volume of 404,226. SYNNEX has a 12-month low of $71.82 and a 12-month high of $109.62. The firm has a market capitalization of $4.89 billion, a price-to-earnings ratio of 8.77, a P/E/G ratio of 0.66 and a beta of 1.00. The business’s 50 day moving average price is $94.52. The company has a current ratio of 1.57, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79.

SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Tuesday, June 25th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.15. SYNNEX had a return on equity of 17.65% and a net margin of 1.79%. The company had revenue of $5.72 billion for the quarter, compared to analysts’ expectations of $5.53 billion. As a group, research analysts expect that SYNNEX will post 12.1 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.50 annualized dividend and a yield of 1.57%. SYNNEX’s dividend payout ratio (DPR) is currently 13.77%.

In other SYNNEX news, SVP Simon Leung sold 1,000 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $107.27, for a total transaction of $107,270.00. Following the sale, the senior vice president now owns 22,257 shares of the company’s stock, valued at approximately $2,387,508.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Marshall Witt sold 600 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $108.28, for a total value of $64,968.00. Following the sale, the chief financial officer now directly owns 16,493 shares in the company, valued at approximately $1,785,862.04. The disclosure for this sale can be found here. In the last three months, insiders sold 5,166 shares of company stock worth $523,200. 3.20% of the stock is owned by insiders.

SYNNEX Company Profile

SYNNEX Corporation provides business process services in the Americas, Asia-Pacific, Europe and Africa. It operates in two segments, Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals; information technology systems, including data center servers and storage solutions; system components; software; networking, communications, and security equipment; consumer electronics; and complementary products.

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Earnings History and Estimates for SYNNEX (NYSE:SNX)

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