Zacks: Analysts Expect Sykes Enterprises, Incorporated (SYKE) Will Post Earnings of $0.43 Per Share

Analysts forecast that Sykes Enterprises, Incorporated (NASDAQ:SYKE) will announce earnings of $0.43 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Sykes Enterprises’ earnings, with the highest EPS estimate coming in at $0.44 and the lowest estimate coming in at $0.41. Sykes Enterprises also posted earnings of $0.43 per share in the same quarter last year. The business is scheduled to issue its next earnings results after the market closes on Monday, May 6th.

On average, analysts expect that Sykes Enterprises will report full-year earnings of $2.21 per share for the current financial year, with EPS estimates ranging from $2.18 to $2.25. For the next fiscal year, analysts anticipate that the firm will post earnings of $2.41 per share, with EPS estimates ranging from $2.29 to $2.50. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Sykes Enterprises.

Sykes Enterprises (NASDAQ:SYKE) last issued its quarterly earnings data on Monday, February 25th. The information technology services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.09). The business had revenue of $415.20 million during the quarter, compared to the consensus estimate of $417.35 million. Sykes Enterprises had a net margin of 3.01% and a return on equity of 10.52%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.47 EPS.

SYKE has been the subject of a number of recent analyst reports. BidaskClub raised shares of Sykes Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 5th. Zacks Investment Research downgraded shares of Sykes Enterprises from a “hold” rating to a “sell” rating in a research report on Saturday, January 5th. SunTrust Banks downgraded shares of Sykes Enterprises from a “buy” rating to a “hold” rating and decreased their target price for the company from $33.00 to $31.00 in a research report on Friday. Finally, ValuEngine downgraded shares of Sykes Enterprises from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Sykes Enterprises currently has a consensus rating of “Hold” and a consensus target price of $30.50.

NASDAQ SYKE traded down $1.60 during trading hours on Friday, reaching $27.78. The company’s stock had a trading volume of 162,770 shares, compared to its average volume of 138,963. The firm has a market cap of $1.26 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.33 and a beta of 0.78. Sykes Enterprises has a 52 week low of $22.67 and a 52 week high of $31.41. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.78 and a quick ratio of 2.78.

In other Sykes Enterprises news, insider Jenna Nelson sold 12,800 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $29.99, for a total transaction of $383,872.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Sykes Enterprises by 41.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,990 shares of the information technology services provider’s stock worth $74,000 after buying an additional 874 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Sykes Enterprises during the 4th quarter worth approximately $106,000. Mackay Shields LLC acquired a new stake in shares of Sykes Enterprises during the 4th quarter worth approximately $222,000. United Services Automobile Association grew its position in shares of Sykes Enterprises by 6.5% during the 4th quarter. United Services Automobile Association now owns 11,415 shares of the information technology services provider’s stock worth $282,000 after buying an additional 693 shares during the period. Finally, Metropolitan Life Insurance Co. NY grew its position in shares of Sykes Enterprises by 351.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 12,760 shares of the information technology services provider’s stock worth $316,000 after buying an additional 9,934 shares during the period. 90.63% of the stock is owned by institutional investors and hedge funds.

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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