Sykes Enterprises (SYKE) Downgraded by BidaskClub to “Sell”

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BidaskClub downgraded shares of Sykes Enterprises (NASDAQ:SYKE) from a hold rating to a sell rating in a report published on Friday, July 27th.

SYKE has been the topic of several other reports. Zacks Investment Research upgraded shares of Sykes Enterprises from a hold rating to a buy rating and set a $30.00 price objective on the stock in a research note on Friday, May 11th. ValuEngine lowered shares of Sykes Enterprises from a hold rating to a sell rating in a research note on Wednesday, May 9th. TheStreet lowered shares of Sykes Enterprises from a b- rating to a c+ rating in a research note on Monday, April 16th. Finally, Barrington Research restated a hold rating on shares of Sykes Enterprises in a research note on Thursday, May 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $31.67.

Shares of SYKE stock opened at $28.75 on Friday. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 0.11. Sykes Enterprises has a 1 year low of $25.77 and a 1 year high of $32.15. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 1.38 and a beta of 0.76.

Sykes Enterprises (NASDAQ:SYKE) last issued its quarterly earnings results on Monday, August 6th. The information technology services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.09. The firm had revenue of $396.80 million for the quarter, compared to analyst estimates of $402.95 million. Sykes Enterprises had a net margin of 1.39% and a return on equity of 10.28%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 EPS. research analysts expect that Sykes Enterprises will post 2.07 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Sykes Enterprises by 6.4% during the 2nd quarter. BlackRock Inc. now owns 5,484,321 shares of the information technology services provider’s stock worth $157,841,000 after buying an additional 328,065 shares during the period. TD Asset Management Inc. boosted its holdings in shares of Sykes Enterprises by 622.9% during the 2nd quarter. TD Asset Management Inc. now owns 227,000 shares of the information technology services provider’s stock worth $6,533,000 after buying an additional 195,600 shares during the period. Matarin Capital Management LLC bought a new stake in shares of Sykes Enterprises during the 1st quarter worth about $5,616,000. Millennium Management LLC bought a new stake in shares of Sykes Enterprises during the 4th quarter worth about $2,461,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Sykes Enterprises by 14.3% during the 2nd quarter. Renaissance Technologies LLC now owns 606,473 shares of the information technology services provider’s stock worth $17,454,000 after buying an additional 75,973 shares during the period. Institutional investors own 86.86% of the company’s stock.

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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