Sykes Enterprises, Incorporated (NASDAQ:SYKE) Expected to Post Quarterly Sales of $417.74 Million

Equities research analysts expect Sykes Enterprises, Incorporated (NASDAQ:SYKE) to report sales of $417.74 million for the current quarter, according to Zacks. Two analysts have provided estimates for Sykes Enterprises’ earnings, with the lowest sales estimate coming in at $417.60 million and the highest estimate coming in at $417.87 million. Sykes Enterprises reported sales of $415.20 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 0.6%. The company is scheduled to issue its next quarterly earnings report on Monday, February 24th.

On average, analysts expect that Sykes Enterprises will report full year sales of $1.61 billion for the current year. For the next fiscal year, analysts forecast that the business will post sales of $1.67 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Sykes Enterprises.

Sykes Enterprises (NASDAQ:SYKE) last issued its quarterly earnings results on Monday, November 4th. The information technology services provider reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.09. Sykes Enterprises had a return on equity of 10.08% and a net margin of 3.62%. The firm had revenue of $397.50 million during the quarter, compared to the consensus estimate of $401.73 million. During the same period last year, the business posted $0.59 EPS. The business’s revenue was down .5% compared to the same quarter last year.

A number of research analysts have weighed in on SYKE shares. ValuEngine lowered shares of Sykes Enterprises from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Zacks Investment Research lowered shares of Sykes Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Sidoti lowered shares of Sykes Enterprises from a “buy” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research report on Monday, November 11th. They noted that the move was a valuation call. Finally, BidaskClub upgraded shares of Sykes Enterprises from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Sykes Enterprises presently has a consensus rating of “Hold” and an average price target of $38.33.

SYKE stock traded up $0.25 during trading on Friday, reaching $34.89. 4,016 shares of the stock were exchanged, compared to its average volume of 249,139. The firm’s 50 day moving average is $33.52 and its 200 day moving average is $29.44. The firm has a market cap of $1.46 billion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 1.68 and a beta of 0.84. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.29. Sykes Enterprises has a twelve month low of $22.67 and a twelve month high of $38.24.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN increased its holdings in shares of Sykes Enterprises by 2.4% in the 2nd quarter. Wells Fargo & Company MN now owns 1,189,451 shares of the information technology services provider’s stock worth $32,661,000 after buying an additional 27,689 shares during the last quarter. Summit Global Investments purchased a new stake in shares of Sykes Enterprises in the 2nd quarter valued at $623,000. Grantham Mayo Van Otterloo & Co. LLC boosted its position in Sykes Enterprises by 125.4% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 167,316 shares of the information technology services provider’s stock valued at $4,594,000 after buying an additional 93,100 shares during the period. BBT Capital Management LLC bought a new position in shares of Sykes Enterprises during the second quarter valued at about $456,000. Finally, Nuveen Asset Management LLC purchased a new position in shares of Sykes Enterprises in the second quarter worth about $8,507,000. 89.26% of the stock is owned by institutional investors and hedge funds.

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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