Brokers Issue Forecasts for Sykes Enterprises, Incorporated’s FY2019 Earnings (NASDAQ:SYKE)

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Sykes Enterprises, Incorporated (NASDAQ:SYKE) – Analysts at Barrington Research reduced their FY2019 EPS estimates for Sykes Enterprises in a research note issued to investors on Thursday, November 7th. Barrington Research analyst V. Colicchio now anticipates that the information technology services provider will post earnings per share of $2.09 for the year, down from their previous forecast of $2.11. Barrington Research also issued estimates for Sykes Enterprises’ Q4 2019 earnings at $0.66 EPS and FY2020 earnings at $2.35 EPS.

Several other brokerages have also issued reports on SYKE. Sidoti reduced their price target on Sykes Enterprises from $39.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. ValuEngine lowered Sykes Enterprises from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research upgraded Sykes Enterprises from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Saturday, November 2nd. BidaskClub upgraded Sykes Enterprises from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, TheStreet upgraded Sykes Enterprises from a “c+” rating to a “b-” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $33.67.

Shares of Sykes Enterprises stock opened at $37.76 on Friday. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 18.69, a P/E/G ratio of 1.79 and a beta of 0.82. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 2.28. Sykes Enterprises has a 52-week low of $22.67 and a 52-week high of $38.11. The stock has a 50-day simple moving average of $30.84 and a 200-day simple moving average of $28.39.

Sykes Enterprises (NASDAQ:SYKE) last announced its quarterly earnings results on Monday, November 4th. The information technology services provider reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.09. The business had revenue of $397.50 million during the quarter, compared to analyst estimates of $401.73 million. Sykes Enterprises had a return on equity of 10.08% and a net margin of 3.62%. The firm’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 EPS.

In related news, insider David Pearson sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $29.05, for a total value of $145,250.00. Following the completion of the sale, the insider now directly owns 57,457 shares in the company, valued at approximately $1,669,125.85. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.90% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. Campbell & CO Investment Adviser LLC acquired a new position in shares of Sykes Enterprises during the second quarter worth approximately $203,000. First Citizens Bank & Trust Co. acquired a new position in shares of Sykes Enterprises during the third quarter worth approximately $209,000. Macquarie Group Ltd. acquired a new position in shares of Sykes Enterprises during the second quarter worth approximately $277,000. First Hawaiian Bank acquired a new position in shares of Sykes Enterprises during the third quarter worth approximately $279,000. Finally, Pacer Advisors Inc. acquired a new position in shares of Sykes Enterprises during the second quarter worth approximately $310,000. Institutional investors own 89.77% 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.

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

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