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Surging Earnings Estimates Signal Good News for SYNNEX (SNX)

Zacks Equity Research
·2 min read

SYNNEX Corporation SNX is a -business process services company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on SNX’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that SYNNEX could be a solid choice for investors.

Current Quarter Estimates for SNX

In the past 30 days, two estimates have gone higher for SYNNEX while none has gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of $4.14 a share 30 days ago to earnings of 50 cents today.

Current Year Estimates for SNX

Meanwhile, SYNNEX’s current year figures are also looking quite promising, with two estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $2.80 per share 30 days ago to $9.05 per share today, an increase of 223.2%.

SYNNEX Corporation Price and Consensus

SYNNEX Corporation Price and Consensus
SYNNEX Corporation Price and Consensus

SYNNEX Corporation price-consensus-chart | SYNNEX Corporation Quote

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Bottom Line

The stock has also started to move higher lately, adding 27.3% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

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Zacks Investment Research