Sysco (NYSE:SYY) Announces Earnings Results, Beats Expectations By $0.01 EPS

Sysco (NYSE:SYY) issued its quarterly earnings data on Tuesday. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.01, Briefing.com reports. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The business had revenue of $20.56 billion for the quarter, compared to analysts’ expectations of $20.51 billion. During the same period last year, the business earned $1.34 EPS. The business’s revenue was up 4.2% on a year-over-year basis. Sysco updated its FY25 guidance to $4.57-4.65 EPS.

Sysco Price Performance

Shares of SYY stock traded down $0.84 during trading hours on Thursday, hitting $75.81. 2,520,127 shares of the company’s stock were exchanged, compared to its average volume of 3,143,881. The company has a market capitalization of $37.75 billion, a PE ratio of 18.78, a PEG ratio of 2.06 and a beta of 1.18. The company has a current ratio of 1.20, a quick ratio of 0.77 and a debt-to-equity ratio of 6.19. Sysco has a 12-month low of $62.24 and a 12-month high of $82.89. The business’s 50 day simple moving average is $72.34 and its 200-day simple moving average is $76.08.

Analyst Ratings Changes

SYY has been the subject of a number of recent analyst reports. Barclays upped their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday. Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Tuesday, May 28th. Piper Sandler cut their price target on Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. JPMorgan Chase & Co. decreased their target price on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Finally, Bank of America reduced their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.27.

Sysco Company Profile

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.