Sykes Enterprises (SYKE) Downgraded by BidaskClub to “Hold”
BidaskClub lowered shares of Sykes Enterprises (NASDAQ:SYKE) from a buy rating to a hold rating in a research note released on Saturday.
SYKE has been the topic of several other research reports. Robert W. Baird restated a hold rating and issued a $29.00 price target on shares of Sykes Enterprises in a research report on Sunday, September 17th. Zacks Investment Research upgraded Sykes Enterprises from a strong sell rating to a hold rating and set a $33.00 price target on the stock in a research report on Wednesday, October 11th. Finally, SunTrust Banks restated a buy rating and issued a $34.00 price target on shares of Sykes Enterprises in a research report on Monday, October 9th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $33.50.
Sykes Enterprises (NASDAQ:SYKE) traded down $0.68 during trading on Friday, hitting $31.14. The stock had a trading volume of 172,072 shares, compared to its average volume of 237,269. Sykes Enterprises has a fifty-two week low of $25.77 and a fifty-two week high of $34.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.29 and a quick ratio of 3.29. The stock has a market cap of $1,335.84, a P/E ratio of 15.19, a P/E/G ratio of 1.61 and a beta of 0.89.
Sykes Enterprises (NASDAQ:SYKE) last posted its earnings results on Monday, November 6th. The information technology services provider reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.18. The business had revenue of $407.31 million during the quarter, compared to the consensus estimate of $399.22 million. Sykes Enterprises had a return on equity of 11.33% and a net margin of 4.32%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.55 EPS. sell-side analysts forecast that Sykes Enterprises will post 1.93 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Riverhead Capital Management LLC increased its position in Sykes Enterprises by 57.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,631 shares of the information technology services provider’s stock worth $122,000 after purchasing an additional 1,331 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of Sykes Enterprises by 4.9% in the 1st quarter. Public Employees Retirement System of Ohio now owns 3,759 shares of the information technology services provider’s stock worth $111,000 after acquiring an additional 177 shares during the period. Macquarie Group Ltd. acquired a new stake in shares of Sykes Enterprises in the 3rd quarter worth approximately $124,000. Sei Investments Co. grew its holdings in shares of Sykes Enterprises by 0.3% in the 2nd quarter. Sei Investments Co. now owns 5,379 shares of the information technology services provider’s stock worth $181,000 after acquiring an additional 15 shares during the period. Finally, C M Bidwell & Associates Ltd. grew its holdings in shares of Sykes Enterprises by 72.6% in the 2nd quarter. C M Bidwell & Associates Ltd. now owns 6,335 shares of the information technology services provider’s stock worth $212,000 after acquiring an additional 2,665 shares during the period. Institutional investors own 85.70% of the company’s stock.
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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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