Syneos Health, Inc. (NASDAQ:SYNH) Expected to Announce Earnings of $0.96 Per Share

Wall Street brokerages expect Syneos Health, Inc. (NASDAQ:SYNHGet Rating) to post earnings of $0.96 per share for the current quarter, according to Zacks. Five analysts have issued estimates for Syneos Health’s earnings, with the lowest EPS estimate coming in at $0.93 and the highest estimate coming in at $0.99. Syneos Health reported earnings per share of $0.79 in the same quarter last year, which suggests a positive year-over-year growth rate of 21.5%. The business is scheduled to report its next quarterly earnings results before the market opens on Monday, January 1st.

On average, analysts expect that Syneos Health will report full year earnings of $5.13 per share for the current financial year, with EPS estimates ranging from $5.06 to $5.17. For the next fiscal year, analysts expect that the company will post earnings of $5.78 per share, with EPS estimates ranging from $5.67 to $5.89. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Syneos Health.

Syneos Health (NASDAQ:SYNHGet Rating) last announced its quarterly earnings results on Thursday, February 17th. The company reported $1.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.02. Syneos Health had a net margin of 4.50% and a return on equity of 12.69%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the business earned $1.00 EPS. Syneos Health’s revenue for the quarter was up 20.5% compared to the same quarter last year.

Several research analysts have commented on the company. Mizuho cut their price target on Syneos Health from $109.00 to $94.00 and set a “buy” rating on the stock in a research report on Monday, March 7th. Barclays decreased their price target on shares of Syneos Health from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Thursday, January 27th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Syneos Health in a research note on Monday, April 11th. They issued a “buy” rating and a $102.00 price objective on the stock. Zacks Investment Research raised Syneos Health from a “sell” rating to a “hold” rating and set a $95.00 price target on the stock in a report on Monday, January 17th. Finally, StockNews.com assumed coverage on Syneos Health in a research report on Thursday, March 31st. They set a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $103.50.

SYNH opened at $80.43 on Thursday. The stock has a market capitalization of $8.25 billion, a P/E ratio of 35.91 and a beta of 1.84. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.07 and a current ratio of 1.07. Syneos Health has a one year low of $72.48 and a one year high of $104.18. The business’s 50-day simple moving average is $80.92 and its 200-day simple moving average is $89.72.

In other Syneos Health news, CAO Donna Hildebrand Kralowetz sold 1,055 shares of the business’s stock in a transaction that occurred on Monday, January 31st. The stock was sold at an average price of $90.00, for a total transaction of $94,950.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of SYNH. Morgan Stanley increased its holdings in shares of Syneos Health by 59.9% in the 2nd quarter. Morgan Stanley now owns 1,233,132 shares of the company’s stock valued at $110,353,000 after purchasing an additional 461,907 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Syneos Health during the 3rd quarter worth approximately $213,000. New York State Teachers Retirement System grew its holdings in shares of Syneos Health by 11.4% in the 3rd quarter. New York State Teachers Retirement System now owns 56,773 shares of the company’s stock worth $4,967,000 after acquiring an additional 5,803 shares during the period. State of Michigan Retirement System increased its stake in Syneos Health by 1.6% in the 3rd quarter. State of Michigan Retirement System now owns 25,903 shares of the company’s stock valued at $2,266,000 after purchasing an additional 400 shares in the last quarter. Finally, Stephens Inc. AR purchased a new position in Syneos Health in the 3rd quarter valued at approximately $109,000. Institutional investors own 94.63% of the company’s stock.

About Syneos Health (Get Rating)

Syneos Health, Inc provides biopharmaceutical outsourcing solutions company in North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America. It operates through two segments, Clinical Solutions and Commercial Solutions. The Clinical Solutions segment offers services for the development of diagnostics, drugs, biologics, devices, and digital therapeutics in the Phase I to IV of clinical development.

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Earnings History and Estimates for Syneos Health (NASDAQ:SYNH)

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