Raising Estimates Slightly; 2Q17 Beats
- 2Q17 (June) EPS were 44 cents (vs 70 cents last year), 3 cents above our estimate;
- Our 2017 EPS estimate is now $1.71 (from $1.68 previously and Company raised guidance of $1.62-to-$1.77), due to 2Q’s outperformance, but with a continued drag from reduced IT budgets, as well as customer projects being delayed, reduced and/or completed, especially in the Banking & Financial Services (46% of revenue) and Healthcare & Life Science (17.5%) verticals given regulatory and economic uncertainty;
- Our 2018 estimate is now $1.80 (from $1.77), depending on a recovery in customer spending;
- On July 8, 2017, Rakesh Khanna was named President and CEO after serving as interim CEO since November 2016.
Syntel is a provider of digital transformation, information technology and knowledge process outsourcing services. The company's segments include: Banking and Financial Services, which serves financial institutions throughout the world; Healthcare and Life Sciences, which serves healthcare payers, providers and pharmaceutical and medical device providers, among others; Insurance, which serves the needs of property and casualty insurers, insurance brokers, personal, commercial, life and retirement insurance service providers; Manufacturing, which provides technology services and business consulting; and Retail, Logistics and Telecom, which provides elimination and digital modernization solutions.
Great Lakes Review is located in Cleveland, Ohio, was founded in 1981 and became a division of Wellington Shields & Co. LLC in 2011. Great Lakes Review is a research boutique focused on the fundamentally-oriented investor seeking companies that dominate their respective specialty niche regardless of industry. The objective is to make money for the long-term by gradually accumulating a diversified portfolio from a universe of no more than 30 companies. Although short-term-oriented accounts will be alerted to trading opportunities, aggressive sell recommendations are triggered only by a deterioration in long-term fundamentals, not by short-term blips or investor fancy. Coverage of those names that lose their earnings momentum or earnings predictability may be dropped and replaced with more vital candidates.
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