Brokerages expect that Sykes Enterprises, Incorporated (NASDAQ:SYKE) will report sales of $402.51 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Sykes Enterprises’ earnings, with the lowest sales estimate coming in at $402.02 million and the highest estimate coming in at $403.00 million. Sykes Enterprises reported sales of $399.33 million during the same quarter last year, which indicates a positive year-over-year growth rate of 0.8%. The company is expected to report its next quarterly earnings results on Monday, November 4th.
On average, analysts expect that Sykes Enterprises will report full-year sales of $1.64 billion for the current fiscal year, with estimates ranging from $1.63 billion to $1.66 billion. For the next year, analysts anticipate that the company will post sales of $1.69 billion, with estimates ranging from $1.67 billion to $1.71 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Sykes Enterprises.
Sykes Enterprises (NASDAQ:SYKE) last announced its earnings results on Tuesday, July 30th. The information technology services provider reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.11. Sykes Enterprises had a return on equity of 10.36% and a net margin of 3.35%. The business had revenue of $389.00 million during the quarter, compared to analyst estimates of $395.88 million. During the same quarter in the previous year, the business earned $0.42 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year.
Several brokerages have issued reports on SYKE. ValuEngine lowered Sykes Enterprises from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Sidoti lowered their price target on Sykes Enterprises from $39.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. BidaskClub upgraded Sykes Enterprises from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Finally, TheStreet upgraded Sykes Enterprises from a “c+” rating to a “b-” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $33.50.
Shares of NASDAQ:SYKE traded down $0.22 during trading hours on Friday, hitting $28.01. 120,786 shares of the company’s stock traded hands, compared to its average volume of 154,553. Sykes Enterprises has a 1 year low of $22.67 and a 1 year high of $31.47. The firm has a fifty day simple moving average of $27.80. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 1.35 and a beta of 0.84. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.32.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc raised its stake in Sykes Enterprises by 68.4% in the first quarter. Versant Capital Management Inc now owns 1,135 shares of the information technology services provider’s stock worth $32,000 after buying an additional 461 shares in the last quarter. Meeder Asset Management Inc. raised its stake in Sykes Enterprises by 3,276.7% in the first quarter. Meeder Asset Management Inc. now owns 1,452 shares of the information technology services provider’s stock worth $41,000 after buying an additional 1,409 shares in the last quarter. Quantamental Technologies LLC bought a new position in Sykes Enterprises in the first quarter worth approximately $51,000. Amundi Pioneer Asset Management Inc. bought a new position in Sykes Enterprises in the fourth quarter worth approximately $106,000. Finally, Crossmark Global Holdings Inc. bought a new position in Sykes Enterprises in the first quarter worth approximately $202,000. Hedge funds and other institutional investors own 89.61% of the company’s stock.
Sykes Enterprises Company Profile
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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