Sysco (SYY) Scheduled to Post Quarterly Earnings on Tuesday

Sysco (NYSE:SYY) is set to announce its earnings results before the market opens on Tuesday, April 30th. Analysts expect the company to announce 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.Investors that wish to listen to the company’s conference call can do so using this link.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 30th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. The firm had revenue of $19.29 billion for the quarter, compared to analyst estimates of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 earnings per share. 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

SYY stock opened at $77.07 on Monday. The business’s 50-day moving average price is $79.16 and its two-hundred day moving average price is $74.93. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 5.00. The firm has a market cap of $38.37 billion, a PE ratio of 18.84, a P/E/G ratio of 1.57 and a beta of 1.15. Sysco has a 1-year low of $62.24 and a 1-year high of $82.89.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be paid a $0.51 dividend. This is an increase from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. This represents a $2.04 annualized dividend and a dividend yield of 2.65%. Sysco’s dividend payout ratio (DPR) is currently 49.88%.

Wall Street Analyst Weigh In

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

Insider Activity at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the transaction, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at $1,926,560. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.58% of the stock is owned by company insiders.

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.