FY2017 Earnings Estimate for Sykes Enterprises, Incorporated (SYKE) Issued By SunTrust Banks
Sykes Enterprises, Incorporated (NASDAQ:SYKE) – Equities research analysts at SunTrust Banks increased their FY2017 earnings estimates for Sykes Enterprises, in a research report issued on Wednesday. SunTrust Banks analyst F. Atkins now anticipates that the information technology services provider will post earnings of $1.93 per share for the year, up from their prior forecast of $1.82. SunTrust Banks currently has a “Buy” rating and a $34.00 target price on the stock. SunTrust Banks also issued estimates for Sykes Enterprises,’s Q4 2017 earnings at $0.40 EPS, Q3 2018 earnings at $0.51 EPS and FY2018 earnings at $2.02 EPS.
A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Sykes Enterprises, from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 18th. Robert W. Baird restated a “hold” rating and set a $29.00 target price on shares of Sykes Enterprises, in a report on Sunday, October 22nd.
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Sykes Enterprises, (NASDAQ SYKE) opened at $28.70 on Friday. The firm has a market cap of $1,238.88, a price-to-earnings ratio of 14.09, a P/E/G ratio of 1.50 and a beta of 0.85. Sykes Enterprises, has a fifty-two week low of $25.77 and a fifty-two week high of $34.49. The company has a current ratio of 3.29, a quick ratio of 3.44 and a debt-to-equity ratio of 0.35.
Sykes Enterprises, (NASDAQ:SYKE) last issued its earnings results on Monday, November 6th. The information technology services provider reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.18. The business had revenue of $407.31 million for the quarter, compared to the consensus estimate of $399.22 million. Sykes Enterprises, had a net margin of 4.32% and a return on equity of 11.33%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 earnings per share.
Large investors have recently added to or reduced their stakes in the business. Riverhead Capital Management LLC increased its holdings in shares of Sykes Enterprises, by 57.9% in the second quarter. Riverhead Capital Management LLC now owns 3,631 shares of the information technology services provider’s stock valued at $122,000 after purchasing an additional 1,331 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Sykes Enterprises, by 4.9% in the first quarter. Public Employees Retirement System of Ohio now owns 3,759 shares of the information technology services provider’s stock valued at $111,000 after purchasing an additional 177 shares during the last quarter. Macquarie Group Ltd. acquired a new position in shares of Sykes Enterprises, in the third quarter valued at $124,000. Sei Investments Co. increased its holdings in shares of Sykes Enterprises, by 0.3% in the second quarter. Sei Investments Co. now owns 5,379 shares of the information technology services provider’s stock valued at $181,000 after purchasing an additional 15 shares during the last quarter. Finally, Dubuque Bank & Trust Co. increased its holdings in shares of Sykes Enterprises, by 26.0% in the second quarter. Dubuque Bank & Trust Co. now owns 6,006 shares of the information technology services provider’s stock valued at $201,000 after purchasing an additional 1,241 shares during the last quarter. Hedge funds and other institutional investors own 85.58% of the company’s stock.
In other Sykes Enterprises, news, CEO Charles E. Sykes sold 20,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $26.27, for a total value of $525,400.00. Following the transaction, the chief executive officer now directly owns 337,999 shares in the company, valued at $8,879,233.73. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.70% of the stock is owned by 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.
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