SYNNEX Beats Analyst Estimates on EPS
SYNNEX (NYS: SNX) reported earnings yesterday. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Feb. 29 (Q1), SYNNEX missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped slightly, and GAAP earnings per share increased significantly.
Margins improved across the board.
SYNNEX recorded revenue of $2.46 billion. The seven analysts polled by S&P Capital IQ foresaw a top line of $2.54 billion on the same basis. GAAP reported sales were 1.6% lower than the prior-year quarter's $2.50 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.02. The seven earnings estimates compiled by S&P Capital IQ forecast $0.92 per share. GAAP EPS of $1.02 for Q1 were 28% higher than the prior-year quarter's $0.80 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 6.9%, 120 basis points better than the prior-year quarter. Operating margin was 2.6%, 50 basis points better than the prior-year quarter. Net margin was 1.6%, 40 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $2.57 billion. On the bottom line, the average EPS estimate is $0.92.
Next year's average estimate for revenue is $10.81 billion. The average EPS estimate is $4.22.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 106 members rating the stock outperform and 10 members rating it underperform. Among 32 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 31 give SYNNEX a green thumbs-up, and one gives it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on SYNNEX is outperform, with an average price target of $37.50.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.
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