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

Sykes Enterprises, Incorporated (NASDAQ:SYKE) – Equities researchers at SunTrust Banks upped their Q3 2017 earnings per share estimates for shares of Sykes Enterprises, in a research note issued to investors on Monday. SunTrust Banks analyst F. Atkins now expects that the information technology services provider will post earnings of $0.45 per share for the quarter, up from their previous estimate of $0.43. SunTrust Banks has a “Buy” rating and a $34.00 price objective on the stock. SunTrust Banks also issued estimates for Sykes Enterprises,’s FY2017 earnings at $1.82 EPS, Q1 2018 earnings at $0.49 EPS, Q2 2018 earnings at $0.45 EPS, Q3 2018 earnings at $0.50 EPS and FY2018 earnings at $2.00 EPS.

A number of other brokerages also recently issued reports on SYKE. Zacks Investment Research upgraded Sykes Enterprises, from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Thursday, July 13th. Robert W. Baird lowered their price objective on Sykes Enterprises, from $36.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, August 8th.

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

Several institutional investors and hedge funds have recently modified their holdings of SYKE. BlackRock Inc. raised its position in shares of Sykes Enterprises, by 48,788.9% during the first quarter. BlackRock Inc. now owns 4,860,043 shares of the information technology services provider’s stock worth $142,885,000 after acquiring an additional 4,850,102 shares during the last quarter. LSV Asset Management raised its position in shares of Sykes Enterprises, by 62.1% during the second quarter. LSV Asset Management now owns 1,289,775 shares of the information technology services provider’s stock worth $43,246,000 after acquiring an additional 494,155 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Sykes Enterprises, by 5.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,604,490 shares of the information technology services provider’s stock worth $105,971,000 after acquiring an additional 188,586 shares during the last quarter. Tributary Capital Management LLC raised its position in shares of Sykes Enterprises, by 36.2% during the second quarter. Tributary Capital Management LLC now owns 425,370 shares of the information technology services provider’s stock worth $14,263,000 after acquiring an additional 113,051 shares during the last quarter. Finally, Sensato Investors LLC raised its position in shares of Sykes Enterprises, by 269.1% during the first quarter. Sensato Investors LLC now owns 115,082 shares of the information technology services provider’s stock worth $3,383,000 after acquiring an additional 83,900 shares during the last quarter. Institutional investors own 86.34% of the company’s stock.

In other news, CEO Charles E. Sykes sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $26.27, for a total transaction of $525,400.00. Following the completion of the transaction, the chief executive officer now directly owns 337,999 shares in the company, valued at $8,879,233.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.70% of the stock is owned by company insiders.

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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