SYNNEX (NYSE:SNX) Issues Q1 2021 After-Hours Earnings Guidance


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SYNNEX (NYSE:SNX) updated its first quarter 2021
After-Hours earnings guidance on Monday. The company provided EPS guidance of 1.55-1.75 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.07. The company issued revenue guidance of $4.5-4.8 billion, compared to the consensus revenue estimate of $4.88 billion.SYNNEX also updated its Q1 guidance to $1.55-$1.75 EPS.

A number of brokerages have recently weighed in on SNX. BidaskClub upgraded SYNNEX from a buy rating to a strong-buy rating in a report on Thursday, January 7th. TheStreet downgraded SYNNEX from a b- rating to a c rating in a report on Tuesday, December 22nd. Citigroup lifted their price target on SYNNEX from $150.00 to $180.00 and gave the company a buy rating in a report on Wednesday, September 30th. They noted that the move was a valuation call. Loop Capital lowered their price target on SYNNEX from $170.00 to $108.00 and set a buy rating on the stock in a report on Wednesday. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on SYNNEX from $95.00 to $100.00 in a report on Tuesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $112.56.

SNX opened at $85.68 on Thursday. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 1.30 and a beta of 1.51. SYNNEX has a 1 year low of $21.25 and a 1 year high of $91.40. The company has a current ratio of 1.52, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64. The stock has a fifty day moving average price of $91.79 and a 200 day moving average price of $122.93.

SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Sunday, January 10th. The business services provider reported $5.21 earnings per share for the quarter, topping analysts’ consensus estimates of $3.83 by $1.38. SYNNEX had a return on equity of 16.78% and a net margin of 2.06%. The company had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $6.60 billion. During the same quarter in the previous year, the firm earned $4.26 earnings per share. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, sell-side analysts forecast that SYNNEX will post 12.25 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 29th. Shareholders of record on Friday, January 22nd will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, January 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.93%. SYNNEX’s dividend payout ratio is currently 3.02%.

In other news, Director Kevin M. Murai sold 5,324 shares of SYNNEX stock in a transaction dated Wednesday, October 21st. The stock was sold at an average price of $143.55, for a total value of $764,260.20. Following the transaction, the director now directly owns 7,739 shares in the company, valued at $1,110,933.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwight Steffensen sold 524 shares of SYNNEX stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $144.31, for a total value of $75,618.44. Following the completion of the transaction, the director now owns 1,046 shares in the company, valued at $150,948.26. The disclosure for this sale can be found here. Insiders sold 18,553 shares of company stock valued at $2,686,807 in the last ninety days. Insiders own 2.80% of the company’s stock.

SYNNEX Company Profile

SYNNEX Corporation provides business process services in the United States and internationally. It operates in two segments, Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals; information technology systems, including data center servers and storage solutions; system components; software; networking, communications, and security equipment; consumer electronics; and complementary products.

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