$417.30 Million in Sales Expected for Sykes Enterprises, Incorporated (SYKE) This Quarter

Wall Street analysts expect Sykes Enterprises, Incorporated (NASDAQ:SYKE) to post $417.30 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Sykes Enterprises’ earnings, with the highest sales estimate coming in at $418.05 million and the lowest estimate coming in at $416.50 million. Sykes Enterprises posted sales of $419.25 million in the same quarter last year, which suggests a negative year-over-year growth rate of 0.5%. The firm is expected to announce its next earnings report after the market closes on Monday, February 25th.

On average, analysts expect that Sykes Enterprises will report full year sales of $1.63 billion for the current year. For the next financial year, analysts expect that the company will report sales of $1.69 billion, with estimates ranging from $1.68 billion to $1.70 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Sykes Enterprises.

Sykes Enterprises (NASDAQ:SYKE) last announced its quarterly earnings data on Monday, November 5th. The information technology services provider reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.03. The business had revenue of $399.30 million for the quarter, compared to analyst estimates of $404.79 million. Sykes Enterprises had a net margin of 0.91% and a return on equity of 10.08%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 earnings per share.

A number of brokerages have recently commented on SYKE. Barrington Research reissued a “hold” rating on shares of Sykes Enterprises in a research report on Tuesday, October 23rd. ValuEngine lowered shares of Sykes Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday, November 21st. BidaskClub raised shares of Sykes Enterprises from a “hold” rating to a “buy” rating in a research report on Tuesday, October 23rd. Finally, Zacks Investment Research downgraded shares of Sykes Enterprises from a “hold” rating to a “sell” rating in a report on Saturday, January 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $33.00.

In related news, VP James T. Holder sold 2,500 shares of the business’s stock in a transaction on Friday, November 30th. The shares were sold at an average price of $27.31, for a total transaction of $68,275.00. Following the transaction, the vice president now directly owns 17,206 shares in the company, valued at $469,895.86. The sale was disclosed in a filing with the SEC, which is available through this link. 2.90% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of SYKE. Bank of New York Mellon Corp increased its holdings in Sykes Enterprises by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 516,383 shares of the information technology services provider’s stock worth $14,862,000 after buying an additional 13,472 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Sykes Enterprises by 11.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 384,626 shares of the information technology services provider’s stock valued at $11,070,000 after purchasing an additional 40,678 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Sykes Enterprises in the second quarter valued at $346,000. BlackRock Inc. increased its holdings in shares of Sykes Enterprises by 6.4% in the second quarter. BlackRock Inc. now owns 5,484,321 shares of the information technology services provider’s stock valued at $157,841,000 after purchasing an additional 328,065 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Sykes Enterprises by 5.0% in the second quarter. Legal & General Group Plc now owns 84,719 shares of the information technology services provider’s stock valued at $2,448,000 after purchasing an additional 4,017 shares during the last quarter. Institutional investors and hedge funds own 87.99% of the company’s stock.

Shares of SYKE stock traded up $0.02 during trading on Tuesday, reaching $27.14. The company’s stock had a trading volume of 183,000 shares, compared to its average volume of 153,085. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.10. The firm has a market cap of $1.17 billion, a PE ratio of 13.57, a P/E/G ratio of 1.21 and a beta of 0.65. Sykes Enterprises has a one year low of $22.67 and a one year high of $31.82.

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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