SYNNEX Co. (SNX) Posts Quarterly Earnings Results, Beats Expectations By $0.16 EPS

SYNNEX Co. (NYSE:SNX) posted its quarterly earnings results on Monday. The company reported $1.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.16. The business earned $3.52 billion during the quarter, compared to analyst estimates of $3.50 billion. SYNNEX had a net margin of 1.67% and a return on equity of 14.80%. The company’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.37 earnings per share. SYNNEX updated its Q2 guidance to 1.70-1.78 EPS.

Shares of SYNNEX (NYSE:SNX) traded up 1.18% during trading on Monday, hitting $118.32. 204,900 shares of the company were exchanged. SYNNEX has a 12 month low of $77.54 and a 12 month high of $129.24. The firm’s 50-day moving average price is $118.22 and its 200 day moving average price is $115.26. The firm has a market capitalization of $4.72 billion, a PE ratio of 20.11 and a beta of 1.18.

Earnings History for SYNNEX (NYSE:SNX)

A number of equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of SYNNEX from a “buy” rating to a “hold” rating in a research report on Thursday, December 1st. Brean Capital upped their price target on shares of SYNNEX from $124.00 to $134.00 and gave the stock a “buy” rating in a research report on Wednesday, January 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $116.17.

In other SYNNEX news, Director Fred A. Breidenbach sold 390 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $120.00, for a total transaction of $46,800.00. Following the completion of the transaction, the director now directly owns 18,589 shares of the company’s stock, valued at approximately $2,230,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin M. Murai sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $116.53, for a total transaction of $233,060.00. Following the transaction, the chief executive officer now directly owns 142,311 shares of the company’s stock, valued at $16,583,500.83. The disclosure for this sale can be found here. Insiders have sold a total of 22,759 shares of company stock valued at $2,752,179 over the last three months. 3.40% of the stock is currently owned by insiders.

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About SYNNEX

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.

5 Day Chart for NYSE:SNX

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