Wall Street analysts expect Sykes Enterprises, Incorporated (NASDAQ:SYKE) to report earnings of $0.57 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Sykes Enterprises’ earnings. The highest EPS estimate is $0.58 and the lowest is $0.56. Sykes Enterprises posted earnings of $0.56 per share in the same quarter last year, which would suggest a positive year over year growth rate of 1.8%. The firm is expected to announce its next quarterly earnings report after the market closes on Wednesday, November 4th.
On average, analysts expect that Sykes Enterprises will report full-year earnings of $2.36 per share for the current year, with EPS estimates ranging from $2.35 to $2.37. For the next fiscal year, analysts forecast that the company will report earnings of $2.58 per share, with EPS estimates ranging from $2.50 to $2.65. Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for Sykes Enterprises.
Sykes Enterprises (NASDAQ:SYKE) last issued its quarterly earnings results on Monday, August 3rd. The information technology services provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.22 by $0.49. Sykes Enterprises had a net margin of 4.68% and a return on equity of 11.50%. The company had revenue of $416.80 million during the quarter, compared to analysts’ expectations of $378.31 million. During the same quarter in the previous year, the company earned $0.41 EPS. Sykes Enterprises’s revenue was up 7.1% on a year-over-year basis.
Several research analysts recently weighed in on the stock. TheStreet raised shares of Sykes Enterprises from a “c+” rating to a “b-” rating in a research note on Monday, August 10th. Zacks Investment Research raised shares of Sykes Enterprises from a “hold” rating to a “strong-buy” rating and set a $37.00 price objective on the stock in a research note on Saturday, August 8th. BidaskClub raised shares of Sykes Enterprises from a “hold” rating to a “buy” rating in a research note on Tuesday, September 29th. Finally, Barrington Research reaffirmed a “hold” rating on shares of Sykes Enterprises in a research note on Monday, September 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Sykes Enterprises presently has an average rating of “Buy” and an average target price of $37.33.
Sykes Enterprises stock opened at $35.79 on Tuesday. The company’s 50 day simple moving average is $33.62 and its 200 day simple moving average is $29.41. Sykes Enterprises has a fifty-two week low of $22.12 and a fifty-two week high of $38.24. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 1.70 and a beta of 0.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.12 and a quick ratio of 2.12.
In other Sykes Enterprises news, EVP Lawrence Zingale sold 4,700 shares of Sykes Enterprises stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $32.00, for a total value of $150,400.00. Following the transaction, the executive vice president now owns 66,076 shares of the company’s stock, valued at $2,114,432. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.40% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. lifted its position in shares of Sykes Enterprises by 268.5% in the first quarter. Meeder Asset Management Inc. now owns 1,614 shares of the information technology services provider’s stock worth $44,000 after purchasing an additional 1,176 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Sykes Enterprises by 24.2% in the second quarter. Parkside Financial Bank & Trust now owns 2,224 shares of the information technology services provider’s stock worth $62,000 after purchasing an additional 434 shares in the last quarter. Advisor Group Holdings Inc. bought a new stake in shares of Sykes Enterprises in the first quarter worth $153,000. First Quadrant L P CA bought a new stake in shares of Sykes Enterprises in the second quarter worth $244,000. Finally, Federated Hermes Inc. lifted its position in shares of Sykes Enterprises by 63.8% in the first quarter. Federated Hermes Inc. now owns 8,954 shares of the information technology services provider’s stock worth $243,000 after purchasing an additional 3,487 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors and hedge funds.
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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