$0.64 Earnings Per Share Expected for Sysco (SYY) This Quarter

Wall Street analysts expect Sysco (NYSE:SYY) to report earnings per share of $0.64 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Sysco’s earnings, with the highest EPS estimate coming in at $0.68 and the lowest estimate coming in at $0.61. Sysco reported earnings of $0.51 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 25.5%. The business is expected to announce its next earnings results on Monday, May 14th.

On average, analysts expect that Sysco will report full-year earnings of $2.93 per share for the current year, with EPS estimates ranging from $2.85 to $3.02. For the next financial year, analysts expect that the business will report earnings of $3.56 per share, with EPS estimates ranging from $3.50 to $3.65. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Sysco.

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Sysco (NYSE:SYY) last posted its quarterly earnings results on Monday, February 5th. The company reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. The firm had revenue of $14.41 billion for the quarter, compared to analysts’ expectations of $14.15 billion. Sysco had a net margin of 2.10% and a return on equity of 61.02%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 earnings per share.

A number of research firms have recently commented on SYY. Citigroup upped their price target on shares of Sysco from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, March 27th. Royal Bank of Canada restated a “sector perform” rating and issued a $61.00 price target on shares of Sysco in a report on Tuesday, February 6th. Zacks Investment Research cut shares of Sysco from a “buy” rating to a “hold” rating in a report on Wednesday, March 14th. Morgan Stanley upgraded shares of Sysco from an “underweight” rating to an “equal weight” rating and set a $64.00 price target on the stock in a report on Tuesday, January 16th. Finally, Pivotal Research cut their price target on shares of Sysco from $68.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $65.00.

In other Sysco news, SVP Greg D. Bertrand sold 81,038 shares of the stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $60.76, for a total transaction of $4,923,868.88. Following the transaction, the senior vice president now directly owns 69,721 shares in the company, valued at approximately $4,236,247.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Wayne Shurts sold 7,800 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $58.98, for a total transaction of $460,044.00. Following the transaction, the executive vice president now owns 55,235 shares in the company, valued at $3,257,760.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 151,370 shares of company stock worth $9,203,507. 9.60% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the business. Vident Investment Advisory LLC bought a new stake in shares of Sysco in the 3rd quarter valued at about $393,000. Chicago Partners Investment Group LLC boosted its holdings in shares of Sysco by 637.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 5,900 shares of the company’s stock valued at $318,000 after buying an additional 5,100 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Sysco by 1.7% in the 4th quarter. Deutsche Bank AG now owns 2,691,367 shares of the company’s stock valued at $163,438,000 after buying an additional 45,042 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of Sysco by 5.7% in the 3rd quarter. California Public Employees Retirement System now owns 1,348,829 shares of the company’s stock valued at $72,769,000 after buying an additional 72,800 shares in the last quarter. Finally, AXA boosted its holdings in shares of Sysco by 2.2% in the 4th quarter. AXA now owns 445,779 shares of the company’s stock valued at $27,073,000 after buying an additional 9,700 shares in the last quarter. Institutional investors own 79.03% of the company’s stock.

Shares of NYSE SYY traded up $0.13 during mid-day trading on Monday, reaching $59.85. The company had a trading volume of 2,560,234 shares, compared to its average volume of 2,869,763. The company has a current ratio of 1.38, a quick ratio of 0.85 and a debt-to-equity ratio of 3.66. The stock has a market cap of $31,168.99, a PE ratio of 24.13, a PEG ratio of 2.02 and a beta of 0.55. Sysco has a 52 week low of $48.85 and a 52 week high of $64.27.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, April 6th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, April 5th. Sysco’s payout ratio is 58.06%.

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About Sysco

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, Bahamas, Mexico, Costa Rica, Panama, the United Kingdom, France, Sweden, Ireland, Belgium, Spain, and Luxembourg.

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