Analysts Set Sykes Enterprises, Incorporated (NASDAQ:SYKE) Price Target at $33.50

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Sykes Enterprises, Incorporated (NASDAQ:SYKE) has been assigned a consensus recommendation of “Hold” from the seven ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $33.50.

Several research analysts have commented on SYKE shares. TheStreet upgraded shares of Sykes Enterprises from a “c+” rating to a “b-” rating in a research report on Wednesday, July 24th. ValuEngine downgraded shares of Sykes Enterprises from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Sidoti lowered their price objective on shares of Sykes Enterprises from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, BidaskClub upgraded shares of Sykes Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Wednesday.

NASDAQ SYKE opened at $28.01 on Monday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.32. Sykes Enterprises has a 1-year low of $22.67 and a 1-year high of $31.47. The company has a 50 day simple moving average of $27.80. The firm has a market capitalization of $1.17 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 1.35 and a beta of 0.84.

Sykes Enterprises (NASDAQ:SYKE) last released its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.11. Sykes Enterprises had a net margin of 3.35% and a return on equity of 10.36%. The company had revenue of $389.00 million during the quarter, compared to the consensus estimate of $395.88 million. During the same period in the previous year, the business earned $0.42 earnings per share. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. Research analysts predict that Sykes Enterprises will post 2.1 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc increased its holdings in shares of Sykes Enterprises by 68.4% during the first quarter. Versant Capital Management Inc now owns 1,135 shares of the information technology services provider’s stock worth $32,000 after buying an additional 461 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Sykes Enterprises by 3,276.7% during the first quarter. Meeder Asset Management Inc. now owns 1,452 shares of the information technology services provider’s stock worth $41,000 after buying an additional 1,409 shares in the last quarter. Quantamental Technologies LLC acquired a new position in shares of Sykes Enterprises during the first quarter worth $51,000. Crossmark Global Holdings Inc. acquired a new position in shares of Sykes Enterprises during the first quarter worth $202,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Sykes Enterprises during the second quarter worth $203,000. Institutional investors and hedge funds own 89.61% of the company’s stock.

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.

Further Reading: Intrinsic Value and Stock Selection

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