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Synnex (SNX) Stock Sinks As Market Gains: What You Should Know
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Synnex (SNX - Free Report) closed the most recent trading day at $91, moving -0.3% from the previous trading session. This move lagged the S&P 500's daily gain of 0.22%. Meanwhile, the Dow gained 0.7%, and the Nasdaq, a tech-heavy index, added 0.08%.
Heading into today, shares of the high-tech contractor had gained 23.47% over the past month, outpacing the Computer and Technology sector's gain of 7.59% and the S&P 500's gain of 9.27% in that time.
Investors will be hoping for strength from SNX as it approaches its next earnings release, which is expected to be April 4, 2019. On that day, SNX is projected to report earnings of $2.73 per share, which would represent year-over-year growth of 27.57%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.29 billion, up 16.12% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.81 per share and revenue of $21.86 billion, which would represent changes of +8.45% and +9%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for SNX. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.17% higher. SNX is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that SNX has a Forward P/E ratio of 7.73 right now. Its industry sports an average Forward P/E of 27.37, so we one might conclude that SNX is trading at a discount comparatively.
The Business - Software Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 23, which puts it in the top 9% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Synnex (SNX) Stock Sinks As Market Gains: What You Should Know
Synnex (SNX - Free Report) closed the most recent trading day at $91, moving -0.3% from the previous trading session. This move lagged the S&P 500's daily gain of 0.22%. Meanwhile, the Dow gained 0.7%, and the Nasdaq, a tech-heavy index, added 0.08%.
Heading into today, shares of the high-tech contractor had gained 23.47% over the past month, outpacing the Computer and Technology sector's gain of 7.59% and the S&P 500's gain of 9.27% in that time.
Investors will be hoping for strength from SNX as it approaches its next earnings release, which is expected to be April 4, 2019. On that day, SNX is projected to report earnings of $2.73 per share, which would represent year-over-year growth of 27.57%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.29 billion, up 16.12% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.81 per share and revenue of $21.86 billion, which would represent changes of +8.45% and +9%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for SNX. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.17% higher. SNX is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that SNX has a Forward P/E ratio of 7.73 right now. Its industry sports an average Forward P/E of 27.37, so we one might conclude that SNX is trading at a discount comparatively.
The Business - Software Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 23, which puts it in the top 9% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.