$445.39 Million in Sales Expected for Sykes Enterprises, Incorporated (NASDAQ:SYKE) This Quarter

Wall Street analysts forecast that Sykes Enterprises, Incorporated (NASDAQ:SYKE) will report $445.39 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Sykes Enterprises’ earnings, with the highest sales estimate coming in at $446.10 million and the lowest estimate coming in at $444.68 million. Sykes Enterprises posted sales of $416.83 million during the same quarter last year, which would indicate a positive year over year growth rate of 6.9%. The business is scheduled to announce its next quarterly earnings results on Monday, August 2nd.

On average, analysts expect that Sykes Enterprises will report full year sales of $1.85 billion for the current fiscal year. For the next financial year, analysts expect that the business will post sales of $1.93 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Sykes Enterprises.

Sykes Enterprises (NASDAQ:SYKE) last posted its quarterly earnings results on Tuesday, May 4th. The information technology services provider reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.04. The company had revenue of $457.80 million for the quarter, compared to the consensus estimate of $457.38 million. Sykes Enterprises had a net margin of 3.84% and a return on equity of 13.66%. Sykes Enterprises’s revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 earnings per share.

A number of research firms have weighed in on SYKE. Robert W. Baird downgraded shares of Sykes Enterprises from an “outperform” rating to a “neutral” rating and set a $54.00 price target on the stock. in a research note on Monday, June 21st. Sidoti downgraded shares of Sykes Enterprises from a “buy” rating to a “neutral” rating and set a $54.00 price target on the stock. in a research note on Friday, June 18th. Zacks Investment Research lowered shares of Sykes Enterprises from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Barrington Research lowered shares of Sykes Enterprises from an “outperform” rating to a “market perform” rating in a research report on Monday, June 21st. Four investment analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and a consensus price target of $54.50.

NASDAQ:SYKE traded up $0.04 during trading hours on Friday, reaching $53.45. 172,662 shares of the company were exchanged, compared to its average volume of 251,917. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 31.63, a price-to-earnings-growth ratio of 1.74 and a beta of 0.94. Sykes Enterprises has a 52-week low of $24.95 and a 52-week high of $54.01. The company’s 50 day moving average is $45.66.

Institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Sykes Enterprises in the fourth quarter worth $281,000. Diversified Trust Co acquired a new stake in Sykes Enterprises during the 1st quarter valued at $616,000. Rhumbline Advisers grew its holdings in Sykes Enterprises by 10.1% during the 4th quarter. Rhumbline Advisers now owns 136,332 shares of the information technology services provider’s stock valued at $5,136,000 after purchasing an additional 12,556 shares in the last quarter. IndexIQ Advisors LLC grew its holdings in Sykes Enterprises by 17.4% during the 1st quarter. IndexIQ Advisors LLC now owns 9,069 shares of the information technology services provider’s stock valued at $400,000 after purchasing an additional 1,346 shares in the last quarter. Finally, TD Asset Management Inc. grew its holdings in Sykes Enterprises by 4.4% during the 1st quarter. TD Asset Management Inc. now owns 236,000 shares of the information technology services provider’s stock valued at $10,403,000 after purchasing an additional 10,000 shares in the last quarter. 88.84% of the stock is owned by institutional investors.

Sykes Enterprises Company Profile

Sykes Enterprises, Incorporated, together with its subsidiaries, provides customer experience management, multichannel demand generation, and digital transformation services. The company's 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 offers health information and dispatching roadside assistance.

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