Wall Street analysts forecast that Sykes Enterprises, Incorporated (NASDAQ:SYKE) will announce earnings of $0.22 per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Sykes Enterprises’ earnings. The highest EPS estimate is $0.38 and the lowest is $0.05. Sykes Enterprises reported earnings per share of $0.41 during the same quarter last year, which would suggest a negative year over year growth rate of 46.3%. The firm is scheduled to report its next earnings report on Tuesday, August 4th.
According to Zacks, analysts expect that Sykes Enterprises will report full-year earnings of $1.62 per share for the current year, with EPS estimates ranging from $1.42 to $1.82. For the next financial year, analysts forecast that the firm will post earnings of $2.18 per share, with EPS estimates ranging from $2.08 to $2.28. Zacks’ EPS averages are an average based on a survey of analysts that cover Sykes Enterprises.
Sykes Enterprises (NASDAQ:SYKE) last issued its earnings results on Monday, May 4th. The information technology services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.05). Sykes Enterprises had a return on equity of 10.26% and a net margin of 4.09%. The firm had revenue of $411.17 million during the quarter, compared to analysts’ expectations of $415.35 million. During the same period last year, the firm posted $0.45 earnings per share. The firm’s quarterly revenue was up 2.0% on a year-over-year basis.
SYKE has been the topic of several research analyst reports. Zacks Investment Research raised shares of Sykes Enterprises from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. BidaskClub downgraded shares of Sykes Enterprises from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Sidoti raised shares of Sykes Enterprises from a “neutral” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Monday, March 16th. Finally, Robert W. Baird upgraded shares of Sykes Enterprises from a “neutral” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research report on Thursday, June 4th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Sykes Enterprises presently has a consensus rating of “Hold” and a consensus price target of $36.33.
In other news, CFO John Chapman sold 10,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $31.30, for a total value of $313,000.00. Following the transaction, the chief financial officer now directly owns 41,659 shares in the company, valued at $1,303,926.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 4.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in SYKE. Meeder Asset Management Inc. raised its position in shares of Sykes Enterprises by 268.5% in the 1st quarter. Meeder Asset Management Inc. now owns 1,614 shares of the information technology services provider’s stock valued at $44,000 after purchasing an additional 1,176 shares during the last quarter. Aigen Investment Management LP purchased a new position in Sykes Enterprises during the 1st quarter worth approximately $69,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Sykes Enterprises by 80.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,160 shares of the information technology services provider’s stock worth $113,000 after buying an additional 1,854 shares during the last quarter. Advisor Group Holdings Inc. acquired a new stake in shares of Sykes Enterprises during the 1st quarter worth approximately $153,000. Finally, Advisor Group Inc. grew its stake in Sykes Enterprises by 7.0% in the 4th quarter. Advisor Group Inc. now owns 4,834 shares of the information technology services provider’s stock valued at $179,000 after acquiring an additional 317 shares during the period. 89.13% of the stock is owned by institutional investors and hedge funds.
Shares of SYKE traded up $0.29 during mid-day trading on Tuesday, reaching $25.89. The stock had a trading volume of 3,021 shares, compared to its average volume of 209,280. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.98 and a beta of 0.84. Sykes Enterprises has a 12 month low of $22.12 and a 12 month high of $38.24. The business has a fifty day moving average of $27.37 and a 200 day moving average of $29.84. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.26 and a current ratio of 2.26.
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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