SunTrust Banks Research Analysts Lower Earnings Estimates for Sykes Enterprises, Incorporated (SYKE)

Sykes Enterprises, Incorporated (NASDAQ:SYKE) – Investment analysts at SunTrust Banks reduced their Q3 2017 earnings estimates for shares of Sykes Enterprises, in a note issued to investors on Wednesday. SunTrust Banks analyst F. Atkins now expects that the information technology services provider will post earnings per share of $0.43 for the quarter, down from their previous forecast of $0.60. SunTrust Banks also issued estimates for Sykes Enterprises,’s Q4 2017 earnings at $0.47 EPS, FY2017 earnings at $1.81 EPS, Q4 2018 earnings at $0.56 EPS and FY2018 earnings at $1.95 EPS.

A number of other brokerages also recently weighed in on SYKE. Zacks Investment Research raised Sykes Enterprises, from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Thursday, July 13th. Robert W. Baird cut their price objective on Sykes Enterprises, from $36.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday.

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Sykes Enterprises, (NASDAQ SYKE) opened at 26.31 on Friday. Sykes Enterprises, has a 12-month low of $25.77 and a 12-month high of $34.49. The stock has a market cap of $1.10 billion, a PE ratio of 16.55 and a beta of 0.75. The firm has a 50-day moving average price of $33.09 and a 200-day moving average price of $30.76.

Sykes Enterprises, (NASDAQ:SYKE) last released its quarterly earnings results on Monday, August 7th. The information technology services provider reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.05. The firm had revenue of $375.40 million during the quarter, compared to analysts’ expectations of $376.83 million. Sykes Enterprises, had a return on equity of 11.21% and a net margin of 4.36%. Sykes Enterprises,’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 EPS.

In related news, insider Jenna Nelson sold 3,672 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $33.99, for a total value of $124,811.28. Following the transaction, the insider now directly owns 14,520 shares of the company’s stock, valued at approximately $493,534.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul L. Whiting sold 14,164 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $32.75, for a total value of $463,871.00. The disclosure for this sale can be found here. Insiders sold a total of 20,336 shares of company stock worth $671,182 over the last three months. 2.70% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of SYKE. Algert Global LLC increased its position in shares of Sykes Enterprises, by 82.0% in the first quarter. Algert Global LLC now owns 39,719 shares of the information technology services provider’s stock valued at $1,168,000 after buying an additional 17,896 shares in the last quarter. First Trust Advisors LP increased its position in shares of Sykes Enterprises, by 23.0% in the first quarter. First Trust Advisors LP now owns 89,134 shares of the information technology services provider’s stock valued at $2,621,000 after buying an additional 16,663 shares in the last quarter. LSV Asset Management increased its position in shares of Sykes Enterprises, by 14.9% in the first quarter. LSV Asset Management now owns 795,620 shares of the information technology services provider’s stock valued at $23,391,000 after buying an additional 103,447 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of Sykes Enterprises, by 8.2% in the first quarter. Great West Life Assurance Co. Can now owns 57,350 shares of the information technology services provider’s stock valued at $1,685,000 after buying an additional 4,341 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Sykes Enterprises, by 17.5% in the first quarter. Wells Fargo & Company MN now owns 1,032,420 shares of the information technology services provider’s stock valued at $30,354,000 after buying an additional 153,460 shares in the last quarter. 86.94% of the stock is currently owned by institutional investors and hedge funds.

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.

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

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