Zacks: Analysts Expect SYSCO Co. (SYY) to Post $0.92 Earnings Per Share
Wall Street brokerages expect that SYSCO Co. (NYSE:SYY) will post $0.92 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for SYSCO’s earnings, with the lowest EPS estimate coming in at $0.90 and the highest estimate coming in at $0.94. SYSCO posted earnings of $0.74 per share in the same quarter last year, which would suggest a positive year over year growth rate of 24.3%. The business is scheduled to issue its next quarterly earnings report on Monday, November 5th.
According to Zacks, analysts expect that SYSCO will report full year earnings of $3.49 per share for the current fiscal year, with EPS estimates ranging from $3.45 to $3.54. For the next financial year, analysts forecast that the business will report earnings of $3.89 per share, with EPS estimates ranging from $3.85 to $3.95. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover SYSCO.
SYSCO (NYSE:SYY) last issued its quarterly earnings results on Monday, August 13th. The company reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The company had revenue of $15.32 billion for the quarter, compared to the consensus estimate of $15.30 billion. SYSCO had a return on equity of 68.15% and a net margin of 2.44%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.72 EPS.
Shares of NYSE SYY opened at $74.97 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 0.74 and a debt-to-equity ratio of 3.01. The company has a market capitalization of $38.89 billion, a price-to-earnings ratio of 23.88, a price-to-earnings-growth ratio of 2.04 and a beta of 0.54. SYSCO has a 12 month low of $52.18 and a 12 month high of $75.98.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 26th. Stockholders of record on Friday, October 5th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Thursday, October 4th. SYSCO’s dividend payout ratio is presently 45.86%.
In other news, Director Trian Fund Management, L.P. sold 2,278,939 shares of the business’s stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $66.14, for a total transaction of $150,729,025.46. Following the sale, the director now directly owns 4,657 shares in the company, valued at $308,013.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard G. Tilghman sold 5,000 shares of the business’s stock in a transaction on Monday, July 16th. The shares were sold at an average price of $70.61, for a total value of $353,050.00. Following the completion of the sale, the director now directly owns 71,137 shares in the company, valued at approximately $5,022,983.57. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,118,448 shares of company stock worth $206,431,891. 9.60% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Blue Chip Partners Inc. acquired a new position in SYSCO in the second quarter worth $104,000. Quad Cities Investment Group LLC acquired a new position in SYSCO in the second quarter worth $111,000. Flagship Harbor Advisors LLC acquired a new position in SYSCO in the second quarter worth $121,000. Private Capital Group LLC boosted its stake in SYSCO by 970.2% in the first quarter. Private Capital Group LLC now owns 2,044 shares of the company’s stock worth $123,000 after purchasing an additional 1,853 shares in the last quarter. Finally, Fort L.P. acquired a new position in SYSCO in the second quarter worth $123,000. 80.00% of the stock is currently owned by institutional investors and hedge funds.
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, Bahamas, Mexico, Costa Rica, Panama, the United Kingdom, France, Sweden, Ireland, Belgium, Spain, and Luxembourg.
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