Synnex Corporation (SNX): Today's Featured Diversified Services Winner
The diversified services industry closed the day down 2.5%. Fortune Industries Inc (FFI), China Distance Education Hldg Ltd-Shs Spons (DL), PowerSecure International Inc (POWR), and CTPartners Executive Search (CTP) were all winners today within the diversified services industry with Synnex Corporation (SNX) being today's featured diversified services winner. Synnex Corporation rose $2.38 (9.6%) to $27.29 on heavy volume. Throughout the day, 1.3 million shares of Synnex Corporation exchanged hands as compared to its average daily volume of 232,500 shares. SYNNEX Corporation provides distribution and business process outsourcing services to resellers, retailers, and original equipment manufacturers (OEMs). The company operates in two segments, Distribution Services and Global Business Services (GBS). Synnex Corporation has a market cap of $864.4 million and is part of the services sector. The company has a P/E ratio of 6.7, equal to the average diversified services industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are down 20.2% year to date as of the close of trading on Tuesday. TheStreet Ratings rates Synnex as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, attractive valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company shows low profit margins.
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