Equities research analysts expect Syntel, Inc. (NASDAQ:SYNT) to announce sales of $225.82 million for the current quarter, Zacks reports. Six analysts have provided estimates for Syntel’s earnings, with the lowest sales estimate coming in at $214.83 million and the highest estimate coming in at $231.08 million. Syntel reported sales of $225.87 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 0%. The firm is scheduled to announce its next earnings results on Thursday, April 19th.
According to Zacks, analysts expect that Syntel will report full year sales of $225.82 million for the current fiscal year, with estimates ranging from $924.80 million to $948.83 million. For the next financial year, analysts anticipate that the business will report sales of $955.48 million per share, with estimates ranging from $940.00 million to $984.94 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Syntel.
Syntel (NASDAQ:SYNT) last announced its earnings results on Thursday, February 15th. The information technology services provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.23. Syntel had a net margin of 18.00% and a negative return on equity of 218.07%. The business had revenue of $239.81 million during the quarter. During the same quarter last year, the business earned $0.57 EPS. The company’s revenue for the quarter was up .8% compared to the same quarter last year.
Several research analysts recently weighed in on the stock. BidaskClub raised shares of Syntel from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 21st. William Blair reiterated a “market perform” rating on shares of Syntel in a report on Thursday, February 15th. Maxim Group reiterated a “hold” rating on shares of Syntel in a report on Thursday, February 15th. Barrington Research reiterated a “hold” rating on shares of Syntel in a report on Monday, February 26th. Finally, ValuEngine downgraded shares of Syntel from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $23.00.
Shares of Syntel (NASDAQ SYNT) traded down $0.19 during midday trading on Thursday, hitting $27.10. 708,489 shares of the stock traded hands, compared to its average volume of 484,321. Syntel has a one year low of $15.82 and a one year high of $27.72. The company has a market cap of $2,248.35, a price-to-earnings ratio of 13.35, a PEG ratio of 1.94 and a beta of 0.76. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of -25.89.
In other Syntel news, VP Rahul B. Aggarwal sold 1,800 shares of Syntel stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $26.66, for a total transaction of $47,988.00. Following the completion of the transaction, the vice president now directly owns 10,430 shares of the company’s stock, valued at $278,063.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Prashant Ranade sold 50,000 shares of Syntel stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $27.18, for a total transaction of $1,359,000.00. Following the transaction, the chairman now directly owns 257,933 shares of the company’s stock, valued at $7,010,618.94. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 53,800 shares of company stock valued at $1,460,368. Company insiders own 61.10% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. raised its stake in Syntel by 1,208.5% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,679 shares of the information technology services provider’s stock worth $130,000 after acquiring an additional 5,245 shares in the last quarter. Group One Trading L.P. boosted its holdings in shares of Syntel by 52.2% during the 3rd quarter. Group One Trading L.P. now owns 7,287 shares of the information technology services provider’s stock worth $143,000 after buying an additional 2,498 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Syntel during the 4th quarter worth approximately $144,000. Comerica Bank bought a new position in shares of Syntel during the 4th quarter worth approximately $213,000. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of Syntel during the 4th quarter worth approximately $221,000. 40.43% of the stock is owned by hedge funds and other institutional investors.
WARNING: This piece of content was reported by The Lincolnian Online and is the property of of The Lincolnian Online. If you are reading this piece of content on another domain, it was copied illegally and republished in violation of international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.thelincolnianonline.com/2018/03/18/225-82-million-in-sales-expected-for-syntel-inc-synt-this-quarter.html.
Syntel Company Profile
Syntel, Inc (Syntel) is a global provider of digital transformation, information technology (IT) and knowledge process outsourcing (KPO) services. The Company operates through five segments: Banking and Financial Services, Healthcare and Life Sciences, Insurance, Manufacturing, and Retail, Logistics and Telecom.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Syntel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Syntel and related companies with MarketBeat.com's FREE daily email newsletter.