Sykes Enterprises (NASDAQ: SYKE) recently received a number of ratings updates from brokerages and research firms:

  • 5/11/2018 – Sykes Enterprises was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $30.00 price target on the stock. According to Zacks, “Sykes Enterprises, Incorporated is a global business process outsourcing (BPO) leader in providing comprehensive inbound customer engagement services to Global 2000 companies, primarily in the communications, financial services, healthcare, technology, transportation and retail industries. SYKES’ differentiated end-to-end service platform effectively engages consumers at every touch point in their customer lifecycle, starting from digital marketing and acquisition to customer support, technical support, up-sell/cross-sell and retention. SYKES provides its services through multiple communication channels encompassing phone, e-mail, web, chat, social media and digital self-service. Utilizing its integrated onshore/offshore and virtual at-home agent delivery models, SYKES serves its clients through two geographic operating segments: the Americas (United States, Canada, Latin America, India and the Asia Pacific region) and EMEA (Europe, Middle East and Africa). “
  • 5/9/2018 – Sykes Enterprises was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 5/8/2018 – Sykes Enterprises was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 5/7/2018 – Sykes Enterprises had its “hold” rating reaffirmed by analysts at Barrington Research. They wrote, “We expect SYKES to report Q1/18 non-GAAP EPS of $0.27, which is less than the FactSet consensus of $0.28. Our forecast represents a year-over-year decline of 49% and a sequential decline of 42%. The year-over-year decline is due to lower gross margin assumptions. The margin outlook has deteriorated due to the negative impact of tightening labor markets and increased wage inflation in the U.S. market. Top-line outlook: We expect SYKES to report Q1/18 total revenue of $409.6 million in Q1/18, which is largely in line with the FactSet consensus of $409.4 million. Our forecast represents year-over-year growth of 7% and sequential decline of 2%. Our growth outlook is tempered by our expectation of continued weakness in the communications vertical, which has weakened due to lower spending from several key clients, including AT&T (T: NOT RATED), which is the company’s largest client.””
  • 5/3/2018 – Sykes Enterprises was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Sykes Enterprises, Incorporated is a global business process outsourcing (BPO) leader in providing comprehensive inbound customer engagement services to Global 2000 companies, primarily in the communications, financial services, healthcare, technology, transportation and retail industries. SYKES’ differentiated end-to-end service platform effectively engages consumers at every touch point in their customer lifecycle, starting from digital marketing and acquisition to customer support, technical support, up-sell/cross-sell and retention. SYKES provides its services through multiple communication channels encompassing phone, e-mail, web, chat, social media and digital self-service. Utilizing its integrated onshore/offshore and virtual at-home agent delivery models, SYKES serves its clients through two geographic operating segments: the Americas (United States, Canada, Latin America, India and the Asia Pacific region) and EMEA (Europe, Middle East and Africa). “
  • 4/16/2018 – Sykes Enterprises was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating.
  • 4/2/2018 – Sykes Enterprises was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 3/28/2018 – Sykes Enterprises was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 3/20/2018 – Sykes Enterprises was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.

Shares of Sykes Enterprises traded down $0.45, hitting $26.88, on Tuesday, MarketBeat reports. The company’s stock had a trading volume of 182,900 shares, compared to its average volume of 145,941. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.86 and a current ratio of 2.86. Sykes Enterprises has a fifty-two week low of $26.46 and a fifty-two week high of $26.66. The company has a market capitalization of $1.17 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.34 and a beta of 0.84.

Sykes Enterprises (NASDAQ:SYKE) last released its quarterly earnings results on Monday, May 7th. The information technology services provider reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.15. Sykes Enterprises had a net margin of 1.51% and a return on equity of 10.07%. The business had revenue of $414.37 million for the quarter, compared to the consensus estimate of $409.96 million. During the same period in the prior year, the company posted $0.54 earnings per share. Sykes Enterprises’s revenue was up 7.9% compared to the same quarter last year. analysts forecast that Sykes Enterprises will post 2.04 EPS for the current year.

In related news, insider Lawrence Zingale sold 16,776 shares of the company’s stock in a transaction dated Monday, March 26th. The shares were sold at an average price of $29.05, for a total transaction of $487,342.80. Following the completion of the sale, the insider now owns 49,708 shares of the company’s stock, valued at $1,444,017.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Pearson sold 5,000 shares of the company’s stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $31.25, for a total transaction of $156,250.00. The disclosure for this sale can be found here. Insiders sold 27,776 shares of company stock worth $830,373 over the last 90 days. 2.90% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Matarin Capital Management LLC bought a new position in shares of Sykes Enterprises in the first quarter worth about $5,616,000. BlackRock Inc. lifted its holdings in shares of Sykes Enterprises by 3.0% in the fourth quarter. BlackRock Inc. now owns 5,096,687 shares of the information technology services provider’s stock worth $160,292,000 after acquiring an additional 149,701 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Sykes Enterprises in the fourth quarter worth about $4,076,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Sykes Enterprises by 534.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 137,628 shares of the information technology services provider’s stock worth $4,328,000 after acquiring an additional 115,928 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Sykes Enterprises by 73.2% in the fourth quarter. Acadian Asset Management LLC now owns 226,769 shares of the information technology services provider’s stock worth $7,131,000 after acquiring an additional 95,855 shares during the last quarter. 89.82% of the stock is owned by institutional investors and hedge funds.

Sykes Enterprises, Incorporated, together with its subsidiaries, provides multichannel demand generation and global customer engagement services. Its customer care services include handling billing inquiries and claims, activating customer accounts, resolving complaints, cross-selling/up-selling, and prequalifying and warranty management, as well as providing health information and dispatching roadside assistance.

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