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Synnex (SNX) Gains As Market Dips: What You Should Know
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Synnex (SNX - Free Report) closed at $123.26 in the latest trading session, marking a +0.37% move from the prior day. This move outpaced the S&P 500's daily loss of 0.86%. At the same time, the Dow lost 0.96%, and the tech-heavy Nasdaq lost 1.13%.
Coming into today, shares of the high-tech contractor had gained 4.31% in the past month. In that same time, the Computer and Technology sector gained 4.5%, while the S&P 500 gained 3.66%.
Investors will be hoping for strength from SNX as it approaches its next earnings release. In that report, analysts expect SNX to post earnings of $3.61 per share. This would mark a year-over-year decline of 1.1%. Our most recent consensus estimate is calling for quarterly revenue of $6 billion, up 6.71% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $12.61 per share and revenue of $23.18 billion. These totals would mark changes of +15.79% and +15.57%, respectively, from last year.
Any recent changes to analyst estimates for SNX should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. SNX is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, SNX currently has a Forward P/E ratio of 9.74. Its industry sports an average Forward P/E of 31.36, so we one might conclude that SNX is trading at a discount comparatively.
Investors should also note that SNX has a PEG ratio of 0.94 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Business - Software Services industry currently had an average PEG ratio of 2.76 as of yesterday's close.
The Business - Software Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 88, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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) Gains As Market Dips: What You Should Know
Synnex (SNX - Free Report) closed at $123.26 in the latest trading session, marking a +0.37% move from the prior day. This move outpaced the S&P 500's daily loss of 0.86%. At the same time, the Dow lost 0.96%, and the tech-heavy Nasdaq lost 1.13%.
Coming into today, shares of the high-tech contractor had gained 4.31% in the past month. In that same time, the Computer and Technology sector gained 4.5%, while the S&P 500 gained 3.66%.
Investors will be hoping for strength from SNX as it approaches its next earnings release. In that report, analysts expect SNX to post earnings of $3.61 per share. This would mark a year-over-year decline of 1.1%. Our most recent consensus estimate is calling for quarterly revenue of $6 billion, up 6.71% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $12.61 per share and revenue of $23.18 billion. These totals would mark changes of +15.79% and +15.57%, respectively, from last year.
Any recent changes to analyst estimates for SNX should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. SNX is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, SNX currently has a Forward P/E ratio of 9.74. Its industry sports an average Forward P/E of 31.36, so we one might conclude that SNX is trading at a discount comparatively.
Investors should also note that SNX has a PEG ratio of 0.94 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Business - Software Services industry currently had an average PEG ratio of 2.76 as of yesterday's close.
The Business - Software Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 88, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.