Published On: Fri, Sep 23rd, 2016

Synnex Corp. (SNX) Set to Announce Earnings on Monday

Synnex Corp. (NYSE:SNX) is scheduled to be issuing its Q316 quarterly earnings data on Monday, September 26th. Analysts expect the company to announce earnings of $1.56 per share and revenue of $3.49 billion for the quarter.
Synnex Corp. (NYSE:SNX) last announced its earnings results on Thursday, June 23rd. The company reported $1.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.06. Synnex Corp. had a return on equity of 13.22% and a net margin of 1.50%. The company had revenue of $3.38 billion for the quarter. During the same period in the prior year, the company earned $1.55 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, analysts expect Synnex Corp. to post $6.23 EPS for the current fiscal year and $7.09 EPS for the next fiscal year.

Synnex Corp. (NYSE:SNX) opened at 108.23 on Friday. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 21.43 and a beta of 1.04. Synnex Corp. has a 12 month low of $75.87 and a 12 month high of $108.31. The company’s 50-day moving average price is $104.49 and its 200 day moving average price is $94.86.

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In other Synnex Corp. news, COO Dennis Polk sold 1,000 shares of Synnex Corp. stock in a transaction dated 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 directly owns 59,697 shares of the company’s stock, valued at approximately $6,322,509.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrea M. Zulberti sold 2,500 shares of Synnex Corp. stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $99.36, for a total value of $248,400.00. Following the sale, the director now directly owns 13,785 shares of the company’s stock, valued at $1,369,677.60. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.
A number of hedge funds have recently made changes to their positions in SNX. Pacer Advisors Inc. acquired a new stake in shares of Synnex Corp. during the second quarter worth about $175,000. BlackRock Japan Co. Ltd boosted its stake in Synnex Corp. by 47.4% in the second quarter. BlackRock Japan Co. Ltd now owns 3,004 shares of the company’s stock worth $285,000 after buying an additional 966 shares during the period. Paradigm Asset Management Co. LLC boosted its stake in Synnex Corp. by 14.8% in the second quarter. Paradigm Asset Management Co. LLC now owns 3,100 shares of the company’s stock worth $294,000 after buying an additional 400 shares during the period. Trexquant Investment LP purchased a new stake in Synnex Corp. during the second quarter worth approximately $303,000. Finally, South Dakota Investment Council purchased a new stake in Synnex Corp. during the second quarter worth approximately $379,000. 75.41% of the stock is owned by institutional investors.
A number of equities research analysts have recently weighed in on SNX shares. Zacks Investment Research raised Synnex Corp. from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a research note on Wednesday, July 6th. Brean Capital reiterated 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. Needham & Company LLC reiterated a “hold” rating on shares of Synnex Corp. in a report on Friday, June 24th. Finally, Raymond James Financial Inc. reiterated a “market perform” rating on shares of Synnex Corp. in a report on Saturday, June 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $100.60.
About Synnex Corp.
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.

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