Factors Likely to Have Influenced Earnings Results SYNNEX (NYSE:SNX)


Earnings results for SYNNEX (NYSE:SNX)

Synnex Corporation is expected* to report earnings on 09/29/2020 after market close. The report will be for the fiscal Quarter ending Aug 2020. According to Zacks Investment Research, based on 4 analysts’ forecasts, the consensus EPS forecast for the quarter is $2.31. The reported EPS for the same quarter last year was $3.3.

SYNNEX last posted its quarterly earnings data on June 25th, 2020. The business services provider reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of ($0.77) by $2.60. The company had revenue of $5.53 billion for the quarter, compared to analyst estimates of $5.17 billion. Its revenue was down 3.3% compared to the same quarter last year. SYNNEX has generated $13.26 earnings per share over the last year and currently has a price-to-earnings ratio of 14.2. SYNNEX has confirmed that its next quarterly earnings report will be published on Tuesday, September 29th, 2020.

Analyst Opinion on SYNNEX (NYSE:SNX)

6 Wall Street analysts have issued ratings and price targets for SYNNEX in the last 12 months. Their average twelve-month price target is $137.00, predicting that the stock has a possible upside of 4.18%. The high price target for SNX is $150.00 and the low price target for SNX is $125.00. There are currently 1 hold rating and 5 buy ratings for the stock, resulting in a consensus rating of “Buy.”

SYNNEX has received a consensus rating of Buy. The company’s average rating score is 2.83, and is based on 5 buy ratings, 1 hold rating, and no sell ratings. According to analysts’ consensus price target of $137.00, SYNNEX has a forecasted upside of 4.2% from its current price of $131.50. SYNNEX has only been the subject of 1 research reports in the past 90 days.

Dividend Strength: SYNNEX (NYSE:SNX)

SYNNEX does not currently pay a dividend. SYNNEX does not have a long track record of dividend growth.

Insiders buying/selling: SYNNEX (NYSE:SNX)

In the past three months, SYNNEX insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $4,846,506.00 in company stock. Only 2.80% of the stock of SYNNEX is held by insiders. 75.60% of the stock of SYNNEX is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of SYNNEX (NYSE:SNX

Earnings for SYNNEX are expected to grow by 21.86% in the coming year, from $10.75 to $13.10 per share. The P/E ratio of SYNNEX is 14.19, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 18.65. The P/E ratio of SYNNEX is 14.19, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 61.82. SYNNEX has a PEG Ratio of 1.23. PEG Ratios above 1 indicate that a company could be overvalued. SYNNEX has a P/B Ratio of 1.77. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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