A number of other equities analysts have also recently issued reports on SNX. Raymond James Financial Inc. restated a market perform rating on shares of Synnex Corp. in a report on Friday, July 15th. Needham & Company LLC restated a hold rating on shares of Synnex Corp. in a report on Friday, June 24th. Brean Capital restated a buy rating and issued a $108.00 target price (up from $97.00) on shares of Synnex Corp. in a report on Friday, June 24th. Finally, Zacks Investment Research cut Synnex Corp. from a buy rating to a hold rating in a report on Saturday, August 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Synnex Corp. presently has an average rating of Hold and a consensus target price of $106.71.
Shares of Synnex Corp. (NYSE:SNX) opened at 113.45 on Tuesday. The stock has a 50 day moving average price of $105.90 and a 200 day moving average price of $95.37. Synnex Corp. has a 12 month low of $75.87 and a 12 month high of $118.80. The stock has a market capitalization of $4.51 billion, a P/E ratio of 22.47 and a beta of 1.04.
Synnex Corp. (NYSE:SNX) last issued its earnings results on Monday, September 26th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.17. The business had revenue of $3.67 billion for the quarter. Synnex Corp. had a return on equity of 13.47% and a net margin of 1.54%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.47 earnings per share. On average, analysts anticipate that Synnex Corp. will post $6.57 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be given a dividend of $0.25 per share. This is a boost from Synnex Corp.’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.88%. Synnex Corp.’s dividend payout ratio (DPR) is presently 15.07%.
In related news, COO Dennis Polk sold 1,000 shares of Synnex Corp. stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $105.91, for a total transaction of $105,910.00. Following the completion of the sale, the chief operating officer now owns 59,697 shares of the company’s stock, valued at $6,322,509.27. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Peter Larocque sold 7,000 shares of Synnex Corp. stock in a transaction on Friday, July 8th. The shares were sold at an average price of $94.22, for a total value of $659,540.00. Following the sale, the insider now directly owns 18,241 shares of the company’s stock, valued at approximately $1,718,667.02. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in SNX. Acrospire Investment Management LLC boosted its stake in Synnex Corp. by 37.5% in the second quarter. Acrospire Investment Management LLC now owns 1,100 shares of the company’s stock worth $104,000 after buying an additional 300 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Synnex Corp. by 85.7% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,300 shares of the company’s stock worth $123,000 after buying an additional 600 shares in the last quarter. Societe Generale bought a new stake in shares of Synnex Corp. during the second quarter worth $156,000. LS Investment Advisors LLC boosted its stake in shares of Synnex Corp. by 69.0% in the second quarter. LS Investment Advisors LLC now owns 1,734 shares of the company’s stock worth $164,000 after buying an additional 708 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new stake in shares of Synnex Corp. during the second quarter worth $175,000. 75.41% of the stock is owned by hedge funds and other institutional investors.
Synnex Corp. Company Profile
SYNNEX Corporation is a process services company. The Company offers a range of services to resellers, retailers, original equipment manufacturers (OEMs), financial and insurance institutions, and other industry verticals across the world. The Company operates in two segments: Technology Solutions and Concentrix.
Receive News & Ratings for Synnex Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synnex Corp. and related companies with MarketBeat.com's FREE daily email newsletter.