Sysco (SYY) Set to Announce Earnings on Tuesday

Sysco (NYSE:SYY) will be releasing its earnings data before the market opens on Tuesday, April 30th. Analysts expect Sysco to post earnings of $0.95 per share for the quarter. Sysco has set its FY24 guidance at $4.20-4.40 EPS and its FY 2024 guidance at 4.200-4.400 EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The firm had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.32 billion. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 EPS. On average, analysts expect Sysco to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Sysco Stock Performance

NYSE SYY opened at $77.07 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 5.00. The company has a market capitalization of $38.37 billion, a P/E ratio of 18.84, a P/E/G ratio of 1.57 and a beta of 1.15. Sysco has a 12-month low of $62.24 and a 12-month high of $82.89. The firm has a 50-day moving average price of $79.16 and a two-hundred day moving average price of $74.85.

Sysco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a yield of 2.65%. This is an increase from Sysco’s previous quarterly dividend of $0.50. Sysco’s payout ratio is currently 48.90%.

Analyst Ratings Changes

A number of research firms have issued reports on SYY. Stephens boosted their price objective on shares of Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Barclays boosted their target price on shares of Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. boosted their target price on shares of Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Finally, BMO Capital Markets boosted their target price on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and an average price target of $85.38.

Insider Activity

In other news, CAO Neil Russell sold 1,722 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total value of $137,760.00. Following the sale, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.58% of the company’s stock.

About Sysco

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.