Wall Street brokerages forecast that Syneos Health Inc (NASDAQ:SYNH) will post earnings per share of $0.61 for the current quarter, according to Zacks. Five analysts have made estimates for Syneos Health’s earnings. The highest EPS estimate is $0.65 and the lowest is $0.59. Syneos Health posted earnings per share of $0.64 in the same quarter last year, which suggests a negative year-over-year growth rate of 4.7%. The company is scheduled to announce its next quarterly earnings results on Thursday, July 26th.
On average, analysts expect that Syneos Health will report full-year earnings of $2.67 per share for the current fiscal year, with EPS estimates ranging from $2.63 to $2.80. For the next financial year, analysts expect that the firm will report earnings of $3.10 per share, with EPS estimates ranging from $3.01 to $3.20. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Syneos Health.
Syneos Health (NASDAQ:SYNH) last released its quarterly earnings results on Wednesday, May 9th. The company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.04. The business had revenue of $761.00 million during the quarter, compared to analyst estimates of $767.24 million. Syneos Health had a negative net margin of 5.50% and a positive return on equity of 8.79%. Syneos Health’s revenue was up 201.9% on a year-over-year basis.
SYNH has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Syneos Health from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Wednesday, May 16th. SunTrust Banks raised their price objective on shares of Syneos Health to $55.00 and gave the stock a “buy” rating in a report on Thursday, March 1st. Barclays reissued an “equal weight” rating and set a $43.00 price objective (up from $40.00) on shares of Syneos Health in a report on Thursday, March 1st. Wells Fargo & Co raised shares of Syneos Health from a “market perform” rating to an “outperform” rating in a report on Friday, February 23rd. Finally, KeyCorp reissued an “overweight” rating and set a $46.00 price objective (down from $50.00) on shares of Syneos Health in a report on Monday, February 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $50.40.
Hedge funds have recently made changes to their positions in the business. Globeflex Capital L P bought a new position in shares of Syneos Health in the 4th quarter worth about $210,000. Geode Capital Management LLC bought a new position in shares of Syneos Health in the 4th quarter worth about $23,570,000. Municipal Employees Retirement System of Michigan bought a new position in shares of Syneos Health in the 4th quarter worth about $741,000. Wells Fargo & Company MN bought a new position in shares of Syneos Health in the 1st quarter worth about $10,513,000. Finally, Rhumbline Advisers bought a new position in shares of Syneos Health in the 1st quarter worth about $3,438,000.
SYNH opened at $48.20 on Wednesday. The firm has a market cap of $5.03 billion, a P/E ratio of 25.13, a PEG ratio of 1.18 and a beta of 0.83. Syneos Health has a twelve month low of $31.10 and a twelve month high of $60.33. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.01.
About Syneos Health
Syneos Health, Inc operates as an integrated biopharmaceutical solutions company in North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America. It operates through two segments, Clinical Solutions and Commercial Solutions. The Clinical Solutions segment offers various clinical development services spanning Phase I to Phase IV, including full-service global studies, as well as unbundled service offerings, such as clinical monitoring, investigator recruitment, patient recruitment, data management, and study startup to assist customers with drug development process.
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