SYNNEX Co. (NYSE:SNX) has been assigned a consensus rating of “Buy” from the ten analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $127.00.
Several analysts have issued reports on the company. Zacks Investment Research downgraded SYNNEX from a “hold” rating to a “sell” rating in a report on Tuesday, July 3rd. TheStreet downgraded SYNNEX from a “b-” rating to a “c+” rating in a report on Friday, October 12th. Needham & Company LLC upgraded SYNNEX from a “buy” rating to a “strong-buy” rating and set a $135.00 target price on the stock in a report on Thursday, October 4th. Stifel Nicolaus dropped their target price on SYNNEX from $130.00 to $114.00 and set a “buy” rating on the stock in a report on Thursday, October 4th. Finally, SunTrust Banks dropped their target price on SYNNEX to $100.00 and set a “buy” rating on the stock in a report on Thursday, October 4th.
NYSE SNX traded down $0.89 on Thursday, hitting $77.67. 534,800 shares of the company were exchanged, compared to its average volume of 326,877. The company has a current ratio of 1.49, a quick ratio of 0.91 and a debt-to-equity ratio of 0.48. The company has a market cap of $3.36 billion, a PE ratio of 8.88 and a beta of 0.77. SYNNEX has a twelve month low of $72.83 and a twelve month high of $141.94.
SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Wednesday, October 3rd. The business services provider reported $2.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.46 by $0.11. The firm had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.88 billion. SYNNEX had a return on equity of 16.69% and a net margin of 1.49%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.16 EPS. Research analysts forecast that SYNNEX will post 10.1 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 26th. Stockholders of record on Friday, October 12th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 11th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.80%. SYNNEX’s dividend payout ratio is 15.80%.
In related news, CEO Dennis Polk sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $95.68, for a total value of $191,360.00. Following the completion of the sale, the chief executive officer now owns 26,494 shares of the company’s stock, valued at approximately $2,534,945.92. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Marshall Witt sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $96.47, for a total value of $57,882.00. Following the completion of the sale, the chief financial officer now directly owns 18,410 shares of the company’s stock, valued at approximately $1,776,012.70. The disclosure for this sale can be found here. In the last three months, insiders sold 7,800 shares of company stock valued at $720,206. 3.20% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Seven Eight Capital LP grew its stake in shares of SYNNEX by 9.8% in the 3rd quarter. Seven Eight Capital LP now owns 16,031 shares of the business services provider’s stock valued at $1,358,000 after buying an additional 1,431 shares in the last quarter. NJ State Employees Deferred Compensation Plan bought a new stake in shares of SYNNEX in the 3rd quarter valued at approximately $339,000. First Hawaiian Bank bought a new stake in shares of SYNNEX in the 3rd quarter valued at approximately $221,000. Bank of Montreal Can grew its stake in shares of SYNNEX by 228.1% in the 3rd quarter. Bank of Montreal Can now owns 8,922 shares of the business services provider’s stock valued at $755,000 after buying an additional 6,203 shares in the last quarter. Finally, Visionary Asset Management Inc. grew its stake in shares of SYNNEX by 20.4% in the 3rd quarter. Visionary Asset Management Inc. now owns 3,617 shares of the business services provider’s stock valued at $306,000 after buying an additional 612 shares in the last quarter. 71.64% of the stock is owned by institutional investors and hedge funds.
SYNNEX Corporation provides business process services in North and South America, the Asia-Pacific, Europe, and internationally. It operates in two segments, Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals; information technology systems, including data center server and storage solutions; system components; software; networking/communications/security equipment; consumer electronics; and complementary products.
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