SYNNEX (SNX) Releases Quarterly Earnings Results, Beats Expectations By $0.40 EPS
SYNNEX (NYSE:SNX) released its quarterly earnings data on Thursday. The business services provider reported $3.65 EPS for the quarter, beating the consensus estimate of $3.25 by $0.40, Briefing.com reports. SYNNEX had a return on equity of 17.16% and a net margin of 1.41%. The company had revenue of $5.62 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same period last year, the firm posted $2.79 earnings per share. SYNNEX’s revenue was up 5.8% compared to the same quarter last year. SYNNEX updated its Q1 2019 guidance to $2.70-2.80 EPS and its Q1 guidance to $2.70-2.80 EPS.
NYSE SNX opened at $86.83 on Friday. The company has a market cap of $4.36 billion, a price-to-earnings ratio of 9.80 and a beta of 0.69. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.51 and a quick ratio of 0.94. SYNNEX has a 1-year low of $71.82 and a 1-year high of $139.44.
In other news, CFO Marshall Witt sold 600 shares of SYNNEX stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $79.31, for a total value of $47,586.00. Following the completion of the transaction, the chief financial officer now owns 17,674 shares in the company, valued at approximately $1,401,724.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kevin M. Murai sold 2,809 shares of SYNNEX stock in a transaction that occurred on Friday, October 26th. The stock was sold at an average price of $77.38, for a total value of $217,360.42. Following the completion of the transaction, the director now owns 22,436 shares of the company’s stock, valued at approximately $1,736,097.68. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 370,331 shares of company stock valued at $29,495,099 and have sold 4,609 shares valued at $361,156. Company insiders own 3.20% of the company’s stock.
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SYNNEX Corporation provides business process services in North and South America, the Asia-Pacific, Europe, and internationally. It operates in two segments, Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals; information technology systems, including data center server and storage solutions; system components; software; networking/communications/security equipment; consumer electronics; and complementary products.
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