$0.83 Earnings Per Share Expected for Syneos Health Inc (NASDAQ:SYNH) This Quarter
Wall Street brokerages forecast that Syneos Health Inc (NASDAQ:SYNH) will report earnings per share of $0.83 for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Syneos Health’s earnings. The lowest EPS estimate is $0.82 and the highest is $0.84. Syneos Health reported earnings of $0.75 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 10.7%. The business is expected to issue its next quarterly earnings report on Tuesday, November 5th.
According to Zacks, analysts expect that Syneos Health will report full year earnings of $3.17 per share for the current fiscal year, with EPS estimates ranging from $3.17 to $3.18. For the next financial year, analysts anticipate that the firm will report earnings of $3.63 per share, with EPS estimates ranging from $3.54 to $3.68. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Syneos Health.
Syneos Health (NASDAQ:SYNH) last issued its earnings results on Tuesday, August 6th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. Syneos Health had a return on equity of 9.82% and a net margin of 0.36%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in Syneos Health by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 738,567 shares of the company’s stock worth $29,061,000 after purchasing an additional 50,175 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Syneos Health by 814.0% during the first quarter. BNP Paribas Arbitrage SA now owns 13,052 shares of the company’s stock worth $676,000 after purchasing an additional 11,624 shares during the period. Convergence Investment Partners LLC acquired a new position in Syneos Health during the first quarter valued at approximately $308,000. Rhumbline Advisers grew its holdings in Syneos Health by 1.7% during the first quarter. Rhumbline Advisers now owns 194,591 shares of the company’s stock valued at $10,072,000 after purchasing an additional 3,170 shares during the last quarter. Finally, Comerica Bank grew its holdings in Syneos Health by 2.1% during the first quarter. Comerica Bank now owns 41,128 shares of the company’s stock valued at $2,103,000 after purchasing an additional 841 shares during the last quarter.
Shares of SYNH traded up $2.55 during midday trading on Friday, reaching $54.49. 35,102 shares of the stock were exchanged, compared to its average volume of 372,406. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 20.79, a P/E/G ratio of 1.83 and a beta of 1.51. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.99. Syneos Health has a 12-month low of $36.26 and a 12-month high of $56.34. The firm has a 50 day simple moving average of $50.98 and a 200-day simple moving average of $48.14.
About Syneos Health
Syneos Health, Inc operates as an integrated biopharmaceutical solutions company in North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America. It operates through two segments, Clinical Solutions and Commercial Solutions. The Clinical Solutions segment offers various clinical development services spanning Phase I to Phase IV, including full-service global studies, as well as clinical monitoring, investigator recruitment, patient recruitment, data management, and study startup to assist customers with drug development process.
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