SYNNEX Corporation [NYSE:SNX] will report earnings after markets close on Monday, January 11th.
SNX Earnings Forecast For The Current Quarter
SYNNEX Corporation [SNX] is expected to report weak earnings results for the quarter ending on Nov 2020. Consensus estimates give the company expected revenues of $6.6B and an earnings per share of $3.83 for Nov 2020. Looking further ahead, the company is expected to report revenue of $5.08B at an EPS of $2.61 for Feb 2021. The estimates represent upside of -6.10% and 13.78% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
SNX Earnings Estimates For The Current Year
For the financial year, SYNNEX Corporation [NYSE:SNX] is expected to bring in revenue of $23.86B. The returns are nearly $100.0 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 12.25, lower than that of FY19 by -$1.01. Estimates put this year’s earnings growth at -7.60%, 3.20% for the next, and at an annual 9.23% over the next 5-year period. As for sales, forecasts are for an increase of 0.40% in the current fiscal year and a further -6.10% over the following year.
SNX Price Performance
On Wall Street, SYNNEX Corporation [NYSE:SNX] finished Thursday’s session down -0.02% at $87.90. The stock went up to $89.865 at the same session while its lowest single day price was $87.24. In the last five days, it saw a rise of about 7.79%, SYNNEX Corporation shares gained by almost 7.93% since the beginning of the year. However, the share price has dropped to as low as -1.22% below its one year high. On 01/07/21, the company shares recorded $89.86, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $79.05. The company’s shares have inclined by 38.21% in the past year. The 50-day SMA achieved is $71.42 while the 200-day SMA is $52.49. Volume dropped to 0.46 million from 0.83 million in the previous session.
SYNNEX Corporation [SNX] Valuation Measures
Notably, SYNNEX Corporation [SNX] stock can be classified as a good candidate in the listing of underestimated low-priced Information Technology Services companies to purchase soonest possible with the prevailing 12-month PE ratio of 9.28. The measure means the stock is exchanging at a discount as compared to the 32.26x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 0.19 PS value ratio is reported for the last one year of reported earnings. That is lower than the industry average of 2.96 which means SNX serve an attractive investment opportunity compared to its competitors.
SNX Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 86.81 level, and in case of violation of this particular level, it will cause more drop to 85.71 level. On the upper level, 90.96 is still the key resistance. The stock may increase to the subsequent resistance at 89.43. The Relative Strength Index (RSI) pinned on the 14-day chart is 67.44, implying a neutral technical stance while the MACD stands at 3.49, meaning price will increase in the next trading period. Percent R indicator moved to 18.17%, implying bullish price movement. Stochastic %K at 77.91% suggest holding the stock.
Is SYNNEX Corporation [NYSE:SNX] a Good Buy Right Now?
It should be noted that SNX technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from SYNNEX Corporation’s Trend Spotter indicated that the signals were Strengthening. The stock current average is 0.4 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.63 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.76 million shares.
What is the short interest in SYNNEX Corporation?
Short interest in the SYNNEX Corporation stock has plunged, decreasing by -0.1 million shares to total 0.79 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 0.68 million, data from Yahoo Finance shows. The increase of 13.03% suggests the stock saw some increased bearish sentiment. The stock’s days to cover moved to short ratio while the shorted shares account for just 2.25% of the overall float for the stock.
SYNNEX Corporation’s Biggest Shareholders: Who Owns SYNNEX Corporation [SNX]?
Filings by Fidelity Management & Research Co showed that the firm now holds a total of 5,187,750 shares or roughly 10.07% of the outstanding SNX shares. This means their shares have reduced by -1,029,969 from the 5,187,750 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $607,588,526. Details in the latest 13F filings reveal that BlackRock Fund Advisors disposed off their -4.56% stake valued at $495,601,411 while Dimensional Fund Advisors LP cut theirs at $325,692,369. During the last quarter, BlackRock Fund Advisors liquidated -147,726 of its shares in SYNNEX Corporation while Dimensional Fund Advisors LP sold -42,149 shares. The JPMorgan Investment Management, I’s holdings currently number 1,510,468 shares at $132770137.2. According to the firm’s last 13F report, Abrams Bison Investments LLC shares in the company at filing stood at 1,267,508 shares, roughly $203,194,207.
What are analyst thoughts on SYNNEX Corporation?
Looking forward to the SYNNEX Corporation share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for SYNNEX Corporation stock at $87.58 within the next 12 months, which represents almost -0.37 per cent growth from its previous closing price of $87.90. The highest analysts’ target for SYNNEX Corporation stock projections is $95.00 and the lowest one is $80.15. Still, 7 analysts sharing their consensus rating for SNX stock in 2021 agree that it is an Overweight.