$417.74 Million in Sales Expected for Sykes Enterprises, Incorporated (NASDAQ:SYKE) This Quarter

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Wall Street analysts expect Sykes Enterprises, Incorporated (NASDAQ:SYKE) to post sales of $417.74 million for the current fiscal quarter, Zacks reports. Two analysts have issued 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 in the same quarter last year, which would suggest a positive year-over-year growth rate of 0.6%. The firm is scheduled to issue its next earnings report on Monday, February 24th.

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

Sykes Enterprises (NASDAQ:SYKE) last announced its quarterly earnings results on Monday, November 4th. The information technology services provider reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.09. The business had revenue of $397.50 million for the quarter, compared to analyst estimates of $401.73 million. Sykes Enterprises had a return on equity of 10.08% and a net margin of 3.62%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.59 EPS.

Several analysts recently issued reports on the stock. Sidoti lowered shares of Sykes Enterprises from a “buy” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a report on Monday, November 11th. They noted that the move was a valuation call. BidaskClub raised shares of Sykes Enterprises from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. ValuEngine cut shares of Sykes Enterprises from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Finally, Zacks Investment Research cut shares of Sykes Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $38.33.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. boosted its position in shares of Sykes Enterprises by 16.2% during the second quarter. Victory Capital Management Inc. now owns 2,214,403 shares of the information technology services provider’s stock worth $60,808,000 after buying an additional 307,980 shares during the period. Wells Fargo & Company MN raised 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 valued at $32,661,000 after buying an additional 27,689 shares during the period. Northern Trust Corp lifted its stake in Sykes Enterprises by 1.6% during the 2nd quarter. Northern Trust Corp now owns 854,691 shares of the information technology services provider’s stock worth $23,470,000 after acquiring an additional 13,176 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Sykes Enterprises by 0.4% during the 2nd quarter. Renaissance Technologies LLC now owns 644,077 shares of the information technology services provider’s stock worth $17,686,000 after acquiring an additional 2,504 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Sykes Enterprises by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 530,069 shares of the information technology services provider’s stock worth $14,555,000 after acquiring an additional 5,650 shares in the last quarter. 89.26% of the stock is currently owned by institutional investors.

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

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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Earnings History and Estimates for Sykes Enterprises (NASDAQ:SYKE)

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