Brokerages Expect Syntel, Inc. (SYNT) Will Post Earnings of $0.42 Per Share

Equities research analysts expect Syntel, Inc. (NASDAQ:SYNT) to announce $0.42 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Syntel’s earnings, with estimates ranging from $0.39 to $0.45. Syntel reported earnings of ($2.58) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 116.3%. The company is expected to report its next quarterly earnings report on Thursday, October 19th.

On average, analysts expect that Syntel will report full year earnings of $1.72 per share for the current fiscal year, with EPS estimates ranging from $1.67 to $1.77. For the next year, analysts forecast that the company will post earnings of $1.74 per share, with EPS estimates ranging from $1.65 to $1.86. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Syntel.

Syntel (NASDAQ:SYNT) last posted its earnings results on Thursday, July 20th. The information technology services provider reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.04. Syntel had a negative net margin of 10.11% and a negative return on equity of 110.72%. The company had revenue of $226.81 million during the quarter. During the same period in the previous year, the company earned $0.70 EPS. The company’s revenue was down 7.7% on a year-over-year basis.

SYNT has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Syntel from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. ValuEngine cut shares of Syntel from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Maxim Group reiterated a “hold” rating on shares of Syntel in a report on Thursday, July 20th. Cantor Fitzgerald reiterated a “hold” rating and set a $16.00 price target on shares of Syntel in a report on Thursday, July 20th. Finally, BidaskClub upgraded shares of Syntel from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $22.73.

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Several large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Syntel by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 2,723,937 shares of the information technology services provider’s stock worth $46,198,000 after buying an additional 130,471 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Syntel by 75.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 923,431 shares of the information technology services provider’s stock worth $15,661,000 after buying an additional 397,034 shares during the last quarter. Freestone Capital Holdings LLC lifted its position in shares of Syntel by 6.7% during the 2nd quarter. Freestone Capital Holdings LLC now owns 735,111 shares of the information technology services provider’s stock worth $12,467,000 after buying an additional 46,174 shares during the last quarter. FIL Ltd lifted its position in shares of Syntel by 52.1% during the 1st quarter. FIL Ltd now owns 732,603 shares of the information technology services provider’s stock worth $12,330,000 after buying an additional 250,949 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Syntel by 6.6% during the 2nd quarter. State Street Corp now owns 660,670 shares of the information technology services provider’s stock worth $11,207,000 after buying an additional 40,952 shares during the last quarter. Institutional investors and hedge funds own 34.71% of the company’s stock.

Syntel (NASDAQ:SYNT) traded down 0.11% during midday trading on Friday, reaching $18.39. 193,635 shares of the company were exchanged. The company’s market capitalization is $1.54 billion. Syntel has a 52 week low of $15.82 and a 52 week high of $43.87. The firm has a 50-day moving average price of $18.41 and a 200-day moving average price of $17.63.

Syntel announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 20th that authorizes the company to buyback $60.00 million in shares. This buyback authorization authorizes the information technology services provider to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Syntel Company Profile

Syntel, Inc (Syntel) is a global provider of digital transformation, information technology (IT) and knowledge process outsourcing (KPO) services. The Company operates through five segments: Banking and Financial Services, Healthcare and Life Sciences, Insurance, Manufacturing, and Retail, Logistics and Telecom.

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Earnings History and Estimates for Syntel (NASDAQ:SYNT)

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