Zacks: Brokerages Expect Syneos Health, Inc. (NASDAQ:SYNH) Will Post Earnings of $1.18 Per Share

Wall Street analysts expect Syneos Health, Inc. (NASDAQ:SYNH – Get Rating) to announce $1.18 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Syneos Health’s earnings, with estimates ranging from $1.15 to $1.21. Syneos Health reported earnings per share of $0.97 in the same quarter last year, which would suggest a positive year-over-year growth rate of 21.6%. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Syneos Health will report full year earnings of $5.09 per share for the current year, with EPS estimates ranging from $4.91 to $5.20. For the next fiscal year, analysts anticipate that the firm will report earnings of $5.71 per share, with EPS estimates ranging from $5.42 to $5.95. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Syneos Health.

Syneos Health (NASDAQ:SYNH – Get Rating) last issued its quarterly earnings data on Friday, April 29th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. Syneos Health had a net margin of 4.54% and a return on equity of 13.33%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the company posted $0.66 EPS. The business’s revenue was up 10.5% on a year-over-year basis.

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group lowered shares of Syneos Health from a “buy” rating to a “hold” rating and lowered their target price for the stock from $101.00 to $75.00 in a report on Monday, April 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of Syneos Health in a report on Monday, April 11th. They set a “buy” rating and a $102.00 price objective for the company. StockNews.com started coverage on shares of Syneos Health in a report on Thursday, March 31st. They set a “hold” rating for the company. Barclays decreased their price objective on shares of Syneos Health from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Thursday, January 27th. Finally, Zacks Investment Research upgraded shares of Syneos Health from a “sell” rating to a “hold” rating and set a $95.00 price objective for the company in a report on Monday, January 17th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $100.33.

Syneos Health stock opened at $75.71 on Thursday. The firm has a 50-day moving average price of $78.53 and a 200-day moving average price of $88.55. The firm has a market capitalization of $7.76 billion, a PE ratio of 32.77 and a beta of 1.79. The company has a current ratio of 1.09, a quick ratio of 1.07 and a debt-to-equity ratio of 0.89. Syneos Health has a 12-month low of $66.77 and a 12-month high of $104.18.

Several institutional investors have recently modified their holdings of SYNH. Silvercrest Asset Management Group LLC grew its position in shares of Syneos Health by 490.6% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,427,767 shares of the company’s stock worth $145,924,000 after buying an additional 1,186,001 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Syneos Health by 576.4% in the 4th quarter. Alliancebernstein L.P. now owns 1,343,624 shares of the company’s stock worth $137,963,000 after buying an additional 1,144,983 shares during the last quarter. Norges Bank purchased a new position in shares of Syneos Health in the 4th quarter worth approximately $101,693,000. BlackRock Inc. grew its position in shares of Syneos Health by 7.7% in the 4th quarter. BlackRock Inc. now owns 9,910,450 shares of the company’s stock worth $1,017,605,000 after buying an additional 707,665 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Syneos Health by 42.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,200,361 shares of the company’s stock worth $192,488,000 after purchasing an additional 653,520 shares during the last quarter. 98.38% of the stock is currently owned by hedge funds and other institutional investors.

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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