SYNNEX Co. (SNX) Updates Q2 Earnings Guidance

SYNNEX Co. (NYSE:SNX) issued an update on its second quarter earnings guidance on Monday morning. The company provided earnings per share guidance of 1.70-1.78 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.71. The company issued revenue guidance of $3.57-3.77 billion, compared to the consensus revenue estimate of $3.61 billion.

SYNNEX Co. (NYSE:SNX) opened at 118.32 on Tuesday. SYNNEX Co. has a 1-year low of $77.54 and a 1-year high of $129.24. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 20.11 and a beta of 1.18. The stock’s 50 day moving average is $118.22 and its 200 day moving average is $115.26.

SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Monday, March 27th. The company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.16. The business earned $3.52 billion during the quarter, compared to analysts’ expectations of $3.50 billion. SYNNEX had a net margin of 1.67% and a return on equity of 14.80%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the company posted $1.37 earnings per share. Analysts predict that SYNNEX Co. will post $7.65 EPS for the current fiscal year.

Earnings History and Estimates for SYNNEX (NYSE:SNX)

A number of research firms have commented on SNX. Brean Capital raised their price target on shares of SYNNEX from $124.00 to $134.00 and gave the stock a buy rating in a report on Wednesday, January 11th. Zacks Investment Research cut shares of SYNNEX from a buy rating to a hold rating in a report on Thursday, December 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $116.17.

In other SYNNEX news, insider Peter Larocque sold 3,868 shares of the firm’s stock in a transaction on Friday, January 13th. The shares were sold at an average price of $125.44, for a total value of $485,201.92. Following the transaction, the insider now directly owns 10,435 shares of the company’s stock, valued at $1,308,966.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Simon Leung sold 870 shares of the firm’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $118.99, for a total transaction of $103,521.30. Following the completion of the transaction, the senior vice president now directly owns 26,462 shares in the company, valued at $3,148,713.38. The disclosure for this sale can be found here. Insiders sold 22,759 shares of company stock worth $2,752,179 over the last ninety days. Insiders own 3.40% of the company’s stock.

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SYNNEX Company Profile

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.

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