Analysts Expect Sykes Enterprises, Incorporated (SYKE) to Post $0.40 Earnings Per Share

Wall Street analysts forecast that Sykes Enterprises, Incorporated (NASDAQ:SYKE) will report earnings per share of $0.40 for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Sykes Enterprises’ earnings. Sykes Enterprises posted earnings per share of $0.52 in the same quarter last year, which would indicate a negative year over year growth rate of 23.1%. The firm is expected to report its next earnings results on Monday, February 26th.

On average, analysts expect that Sykes Enterprises will report full year earnings of $1.93 per share for the current fiscal year. For the next fiscal year, analysts anticipate that the company will post earnings of $2.02 per share, with EPS estimates ranging from $1.95 to $2.07. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Sykes Enterprises.

Sykes Enterprises (NASDAQ:SYKE) last issued its quarterly earnings data on Monday, November 6th. The information technology services provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.18. The firm had revenue of $407.31 million during the quarter, compared to analysts’ expectations of $399.22 million. Sykes Enterprises had a return on equity of 11.33% and a net margin of 4.32%. Sykes Enterprises’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 earnings per share.

Several equities analysts recently issued reports on the company. Robert W. Baird reaffirmed a “hold” rating and set a $29.00 price objective on shares of Sykes Enterprises in a report on Sunday, September 17th. SunTrust Banks reaffirmed a “buy” rating and set a $34.00 price objective on shares of Sykes Enterprises in a report on Monday, October 9th. BidaskClub cut Sykes Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, December 2nd. Finally, Zacks Investment Research raised Sykes Enterprises from a “strong sell” rating to a “hold” rating and set a $33.00 price objective for the company in a report on Wednesday, October 11th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $33.50.

Sykes Enterprises (NASDAQ SYKE) opened at $30.86 on Wednesday. The stock has a market capitalization of $1,320.00, a price-to-earnings ratio of 19.29, a P/E/G ratio of 1.55 and a beta of 0.89. Sykes Enterprises has a 1-year low of $25.77 and a 1-year high of $34.49. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.33.

In other news, CEO Charles E. Sykes sold 40,000 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $31.17, for a total value of $1,246,800.00. Following the completion of the transaction, the chief executive officer now directly owns 285,189 shares of the company’s stock, valued at $8,889,341.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Charles E. Sykes sold 10,000 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $31.16, for a total value of $311,600.00. Following the completion of the transaction, the chief executive officer now directly owns 275,589 shares of the company’s stock, valued at $8,587,353.24. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio grew its position in shares of Sykes Enterprises by 190.3% in the third quarter. Public Employees Retirement System of Ohio now owns 11,725 shares of the information technology services provider’s stock valued at $342,000 after purchasing an additional 7,686 shares during the period. California Public Employees Retirement System grew its position in shares of Sykes Enterprises by 5.8% in the third quarter. California Public Employees Retirement System now owns 157,252 shares of the information technology services provider’s stock valued at $4,585,000 after purchasing an additional 8,687 shares during the period. Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of Sykes Enterprises in the third quarter valued at $623,000. Convergence Investment Partners LLC purchased a new stake in shares of Sykes Enterprises in the third quarter valued at $1,708,000. Finally, Pinebridge Investments L.P. grew its position in shares of Sykes Enterprises by 21.5% in the third quarter. Pinebridge Investments L.P. now owns 42,374 shares of the information technology services provider’s stock valued at $1,236,000 after purchasing an additional 7,498 shares during the period. 85.64% of the stock is owned by institutional investors.

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Sykes Enterprises Company Profile

Sykes Enterprises, Incorporated is engaged in providing outsourced customer contact management solutions and services in the business process outsourcing (BPO) arena on a global basis. The Company has operations in two segments: the Americas, which includes the United States, Canada, Latin America, Australia and the Asia Pacific Rim, and EMEA, which includes Europe, the Middle East and Africa.

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