SYNNEX Co. (NYSE:SNX) announced its earnings results on Monday. The company reported $1.82 EPS 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 the consensus estimate of $3.50 billion. SYNNEX had a net margin of 1.67% and a return on equity of 14.80%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.37 earnings per share. SYNNEX updated its Q2 guidance to 1.70-1.78 EPS.
SYNNEX (NYSE:SNX) traded up 1.18% during trading on Monday, hitting $118.32. 204,900 shares of the stock traded hands. The company has a market cap of $4.72 billion, a P/E ratio of 20.11 and a beta of 1.18. The company’s 50 day moving average price is $118.22 and its 200 day moving average price is $115.26. SYNNEX has a 12 month low of $77.54 and a 12 month high of $129.24.
SNX has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, March 15th. Brean Capital boosted their target price on shares of SYNNEX from $124.00 to $134.00 and gave the stock a “buy” rating in a 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 issued a buy rating to the company’s stock. SYNNEX currently has a consensus rating of “Hold” and an average price target of $116.17.
In related news, SVP Simon Leung sold 870 shares of the firm’s stock in a transaction dated Wednesday, February 1st. The stock was 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 approximately $3,148,713.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Fred A. Breidenbach sold 390 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $122.12, for a total value of $47,626.80. Following the transaction, the director now owns 18,979 shares of the company’s stock, valued at $2,317,715.48. 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. Corporate insiders own 3.40% of the company’s stock.
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.