Equities analysts expect that Sykes Enterprises, Incorporated (NASDAQ:SYKE) will report sales of $404.86 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Sykes Enterprises’ earnings. The lowest sales estimate is $404.18 million and the highest is $406.00 million. Sykes Enterprises posted sales of $407.31 million during the same quarter last year, which suggests a negative year over year growth rate of 0.6%. The company is scheduled to report its next earnings report after the market closes on Monday, November 5th.
On average, analysts expect that Sykes Enterprises will report full-year sales of $1.64 billion for the current year, with estimates ranging from $1.63 billion to $1.64 billion. For the next year, analysts anticipate that the business will report sales of $1.70 billion, with estimates ranging from $1.66 billion to $1.74 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Sykes Enterprises.
Sykes Enterprises (NASDAQ:SYKE) last issued its quarterly earnings data on Monday, August 6th. The information technology services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.09. Sykes Enterprises had a return on equity of 10.28% and a net margin of 1.39%. The business had revenue of $396.80 million for the quarter, compared to the consensus estimate of $402.95 million. During the same period in the prior year, the business posted $0.21 earnings per share. The company’s quarterly revenue was up 5.7% compared to the same quarter last year.
SYKE has been the topic of a number of recent research reports. BidaskClub upgraded Sykes Enterprises from a “hold” rating to a “buy” rating in a research report on Tuesday, September 18th. TheStreet downgraded Sykes Enterprises from a “b-” rating to a “c+” rating in a report on Tuesday, August 21st. Barrington Research reiterated a “hold” rating on shares of Sykes Enterprises in a report on Friday, October 5th. SunTrust Banks reiterated a “buy” rating and issued a $36.00 price target on shares of Sykes Enterprises in a report on Friday, July 27th. Finally, ValuEngine upgraded Sykes Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Sykes Enterprises currently has a consensus rating of “Hold” and a consensus target price of $31.67.
SYKE stock traded up $0.23 during midday trading on Friday, reaching $30.03. 89,758 shares of the company traded hands, compared to its average volume of 134,961. Sykes Enterprises has a 52-week low of $25.90 and a 52-week high of $32.15. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.90 and a quick ratio of 2.90. The company has a market cap of $1.28 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 1.44 and a beta of 0.74.
In other news, VP James T. Holder sold 8,300 shares of the stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $30.05, for a total value of $249,415.00. Following the sale, the vice president now directly owns 19,706 shares in the company, valued at $592,165.30. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of SYKE. Robeco Institutional Asset Management B.V. purchased a new position in Sykes Enterprises during the 2nd quarter worth $124,000. BlackRock Inc. increased its holdings in Sykes Enterprises by 6.4% during the 2nd quarter. BlackRock Inc. now owns 5,484,321 shares of the information technology services provider’s stock worth $157,841,000 after purchasing an additional 328,065 shares during the period. Laurion Capital Management LP purchased a new position in Sykes Enterprises during the 2nd quarter worth $266,000. Swiss National Bank increased its holdings in Sykes Enterprises by 7.5% during the 2nd quarter. Swiss National Bank now owns 72,823 shares of the information technology services provider’s stock worth $2,096,000 after purchasing an additional 5,100 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its holdings in Sykes Enterprises by 11.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 384,626 shares of the information technology services provider’s stock worth $11,070,000 after purchasing an additional 40,678 shares during the period. Hedge funds and other institutional investors own 87.34% of the company’s stock.
About Sykes Enterprises
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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