Analysts Expect Sykes Enterprises, Incorporated (SYKE) Will Announce Quarterly Sales of $400.14 Million
Brokerages expect Sykes Enterprises, Incorporated (NASDAQ:SYKE) to report sales of $400.14 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Sykes Enterprises,’s earnings, with estimates ranging from $398.32 million to $402.57 million. Sykes Enterprises, posted sales of $385.74 million during the same quarter last year, which would indicate a positive year over year growth rate of 3.7%. The firm is scheduled to issue its next quarterly earnings report on Monday, October 30th.
According to Zacks, analysts expect that Sykes Enterprises, will report full year sales of $400.14 million for the current year, with estimates ranging from $1.56 billion to $1.58 billion. For the next year, analysts expect that the business will report sales of $1.63 billion per share, with estimates ranging from $1.62 billion to $1.65 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Sykes Enterprises,.
Sykes Enterprises, (NASDAQ:SYKE) last announced its earnings results on Monday, August 7th. The information technology services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. The business had revenue of $375.40 million for the quarter, compared to the consensus estimate of $376.83 million. Sykes Enterprises, had a return on equity of 11.21% and a net margin of 4.36%. The company’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS.
Several analysts recently weighed in on SYKE shares. Zacks Investment Research upgraded Sykes Enterprises, from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Thursday, July 13th. Robert W. Baird dropped their target price on Sykes Enterprises, from $36.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, August 8th.
Shares of Sykes Enterprises, (SYKE) opened at 27.18 on Thursday. The stock has a market capitalization of $1.14 billion, a P/E ratio of 17.09 and a beta of 0.75. Sykes Enterprises, has a 12-month low of $25.77 and a 12-month high of $34.49. The firm’s 50-day moving average price is $32.33 and its 200 day moving average price is $30.73.
In related news, VP James T. Holder sold 2,500 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $33.00, for a total transaction of $82,500.00. Following the sale, the vice president now owns 19,119 shares of the company’s stock, valued at approximately $630,927. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jenna Nelson sold 3,672 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $33.99, for a total value of $124,811.28. Following the sale, the insider now directly owns 14,520 shares in the company, valued at approximately $493,534.80. The disclosure for this sale can be found here. 2.70% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in SYKE. Public Employees Retirement System of Ohio increased its stake in Sykes Enterprises, by 7.4% in the second quarter. Public Employees Retirement System of Ohio now owns 4,039 shares of the information technology services provider’s stock valued at $135,000 after buying an additional 280 shares in the last quarter. Piedmont Investment Advisors LLC bought a new stake in Sykes Enterprises, during the second quarter worth about $284,000. The Manufacturers Life Insurance Company increased its stake in Sykes Enterprises, by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 30,449 shares of the information technology services provider’s stock worth $1,020,000 after buying an additional 131 shares in the last quarter. C M Bidwell & Associates Ltd. increased its stake in Sykes Enterprises, by 72.6% in the second quarter. C M Bidwell & Associates Ltd. now owns 6,335 shares of the information technology services provider’s stock worth $212,000 after buying an additional 2,665 shares in the last quarter. Finally, State Street Corp increased its stake in Sykes Enterprises, by 3.9% in the second quarter. State Street Corp now owns 1,085,236 shares of the information technology services provider’s stock worth $36,391,000 after buying an additional 41,008 shares in the last quarter. 86.45% of the stock is currently owned by hedge funds and other institutional investors.
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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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