Sykes Enterprises, Incorporated (SYKE) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS
Sykes Enterprises, Incorporated (NASDAQ:SYKE) posted its earnings results on Monday. The information technology services provider reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.05, Bloomberg Earnings reports. Sykes Enterprises, had a return on equity of 11.39% and a net margin of 4.41%. The firm had revenue of $375.40 million for the quarter, compared to analyst estimates of $376.83 million. During the same quarter in the prior year, the company earned $0.36 EPS. Sykes Enterprises,’s revenue was up 3.0% on a year-over-year basis.
Sykes Enterprises, (NASDAQ:SYKE) traded down 19.5929% during midday trading on Tuesday, reaching $26.8801. The company’s stock had a trading volume of 541,929 shares. The company has a market capitalization of $1.12 billion, a P/E ratio of 16.8106 and a beta of 0.75. The company has a 50 day moving average of $33.74 and a 200-day moving average of $30.73. Sykes Enterprises, has a 1-year low of $25.77 and a 1-year high of $34.49.
In other Sykes Enterprises, news, Director Paul L. Whiting sold 14,164 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $32.75, for a total transaction of $463,871.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jenna Nelson sold 3,672 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $33.99, for a total value of $124,811.28. Following the transaction, the insider now owns 14,520 shares in the company, valued at approximately $493,534.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,336 shares of company stock valued at $671,182. 2.70% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. First National Bank of Omaha bought a new position in shares of Sykes Enterprises, during the first quarter worth approximately $807,000. Bank of America Corp DE boosted its position in shares of Sykes Enterprises, by 26.7% in the first quarter. Bank of America Corp DE now owns 382,430 shares of the information technology services provider’s stock worth $11,243,000 after buying an additional 80,498 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Sykes Enterprises, by 1.6% in the first quarter. State of Alaska Department of Revenue now owns 4,360 shares of the information technology services provider’s stock worth $128,000 after buying an additional 70 shares in the last quarter. Stevens Capital Management LP boosted its position in shares of Sykes Enterprises, by 4.1% in the first quarter. Stevens Capital Management LP now owns 17,886 shares of the information technology services provider’s stock worth $526,000 after buying an additional 700 shares in the last quarter. Finally, Oxford Asset Management bought a new position in shares of Sykes Enterprises, during the first quarter worth approximately $1,489,000. Institutional investors own 86.94% of the company’s stock.
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A number of equities research analysts have issued reports on the company. Robert W. Baird reduced their price target on Sykes Enterprises, from $36.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday. Zacks Investment Research raised Sykes Enterprises, from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Thursday, July 13th.
About Sykes Enterprises,
Sykes Enterprises, Incorporated is engaged in providing outsourced customer contact management solutions and services in the business process outsourcing (BPO) arena on a global basis. The Company has operations in two segments: the Americas, which includes the United States, Canada, Latin America, Australia and the Asia Pacific Rim, and EMEA, which includes Europe, the Middle East and Africa.
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