Q1 2018 Earnings Estimate for Sykes Enterprises, Incorporated Issued By SunTrust Banks (NASDAQ:SYKE)
Sykes Enterprises, Incorporated (NASDAQ:SYKE) – Equities researchers at SunTrust Banks decreased their Q1 2018 earnings estimates for Sykes Enterprises, in a report released on Wednesday. SunTrust Banks analyst F. Atkins now expects that the information technology services provider will post earnings per share of $0.47 for the quarter, down from their previous forecast of $0.50. SunTrust Banks also issued estimates for Sykes Enterprises,’s Q2 2018 earnings at $0.43 EPS and Q3 2018 earnings at $0.49 EPS.
SYKE has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Sykes Enterprises, from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Wednesday, May 3rd. Robert W. Baird cut their price objective on shares of Sykes Enterprises, from $36.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday.
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Shares of Sykes Enterprises, (SYKE) traded up 0.15% on Thursday, hitting $25.96. 42,421 shares of the stock traded hands. The stock has a 50 day moving average of $33.30 and a 200 day moving average of $30.79. Sykes Enterprises, has a one year low of $25.77 and a one year high of $34.49. The company has a market cap of $1.09 billion, a PE ratio of 16.33 and a beta of 0.75.
Sykes Enterprises, (NASDAQ:SYKE) last issued its quarterly earnings results on Monday, August 7th. The information technology services provider reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.05. The business had revenue of $375.40 million for the quarter, compared to analysts’ expectations of $376.83 million. Sykes Enterprises, had a net margin of 4.36% and a return on equity of 11.21%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 EPS.
In related news, VP James T. Holder sold 2,500 shares of the stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $33.00, for a total transaction of $82,500.00. Following the sale, the vice president now directly owns 19,119 shares of the company’s stock, valued at $630,927. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jenna Nelson sold 3,672 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $33.99, for a total transaction of $124,811.28. Following the sale, the insider now directly owns 14,520 shares in the company, valued at $493,534.80. The disclosure for this sale can be found here. Insiders have sold 20,336 shares of company stock worth $671,182 over the last three months. 2.70% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Sykes Enterprises, during the fourth quarter worth about $19,123,000. Teachers Advisors LLC increased its stake in shares of Sykes Enterprises, by 3.9% in the fourth quarter. Teachers Advisors LLC now owns 89,428 shares of the information technology services provider’s stock worth $2,581,000 after buying an additional 3,358 shares during the period. First National Bank of Omaha purchased a new stake in shares of Sykes Enterprises, during the first quarter worth about $807,000. Louisiana State Employees Retirement System increased its stake in shares of Sykes Enterprises, by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 16,100 shares of the information technology services provider’s stock worth $473,000 after buying an additional 200 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in shares of Sykes Enterprises, by 1.6% in the first quarter. State of Alaska Department of Revenue now owns 4,360 shares of the information technology services provider’s stock worth $128,000 after buying an additional 70 shares during the period. 86.94% of the stock is currently owned by hedge funds and other institutional investors.
About Sykes Enterprises,
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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