Zacks: Brokerages Anticipate Sykes Enterprises, Incorporated (NASDAQ:SYKE) Will Announce Earnings of $0.22 Per Share

Equities analysts forecast that Sykes Enterprises, Incorporated (NASDAQ:SYKE) will report $0.22 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Sykes Enterprises’ earnings, with estimates ranging from $0.05 to $0.38. Sykes Enterprises posted earnings per share of $0.41 during the same quarter last year, which would indicate a negative year over year growth rate of 46.3%. The firm is expected to issue its next earnings results on Tuesday, August 4th.

According to Zacks, analysts expect that Sykes Enterprises will report full year earnings of $1.62 per share for the current financial year, with EPS estimates ranging from $1.42 to $1.82. For the next fiscal year, analysts anticipate that the business will post earnings of $2.18 per share, with EPS estimates ranging from $2.08 to $2.28. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover Sykes Enterprises.

Sykes Enterprises (NASDAQ:SYKE) last announced its quarterly earnings results on Monday, May 4th. The information technology services provider reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.05). Sykes Enterprises had a net margin of 4.09% and a return on equity of 10.26%. The firm had revenue of $411.17 million during the quarter, compared to the consensus estimate of $415.35 million. During the same period in the previous year, the business earned $0.45 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis.

SYKE has been the subject of several analyst reports. Zacks Investment Research raised shares of Sykes Enterprises from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Barrington Research restated a “hold” rating on shares of Sykes Enterprises in a research report on Monday, March 2nd. Robert W. Baird upgraded shares of Sykes Enterprises from a “neutral” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research report on Thursday, June 4th. Sidoti upgraded shares of Sykes Enterprises from a “neutral” rating to a “buy” rating and set a $35.00 price objective on the stock in a research report on Monday, March 16th. Finally, BidaskClub cut shares of Sykes Enterprises from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Sykes Enterprises presently has an average rating of “Hold” and an average target price of $36.33.

In related news, Director W. Mark Watson sold 3,000 shares of the stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $26.10, for a total transaction of $78,300.00. Following the completion of the sale, the director now directly owns 5,991 shares in the company, valued at approximately $156,365.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John Chapman sold 10,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $31.30, for a total value of $313,000.00. Following the sale, the chief financial officer now owns 41,659 shares of the company’s stock, valued at $1,303,926.70. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of SYKE. Mason Street Advisors LLC raised its position in shares of Sykes Enterprises by 2.2% in the 4th quarter. Mason Street Advisors LLC now owns 13,422 shares of the information technology services provider’s stock worth $496,000 after acquiring an additional 288 shares in the last quarter. Advisor Group Inc. raised its position in shares of Sykes Enterprises by 7.0% in the 4th quarter. Advisor Group Inc. now owns 4,834 shares of the information technology services provider’s stock worth $179,000 after acquiring an additional 317 shares in the last quarter. First National Bank of Omaha raised its position in shares of Sykes Enterprises by 1.3% in the 1st quarter. First National Bank of Omaha now owns 36,685 shares of the information technology services provider’s stock worth $995,000 after acquiring an additional 459 shares in the last quarter. Comerica Bank raised its position in shares of Sykes Enterprises by 1.3% in the 1st quarter. Comerica Bank now owns 53,443 shares of the information technology services provider’s stock worth $1,473,000 after acquiring an additional 665 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Sykes Enterprises by 0.9% in the 1st quarter. Swiss National Bank now owns 76,323 shares of the information technology services provider’s stock worth $2,070,000 after acquiring an additional 700 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

NASDAQ:SYKE traded down $0.30 during trading hours on Monday, hitting $26.19. The stock had a trading volume of 360,202 shares, compared to its average volume of 241,548. The company has a 50 day simple moving average of $27.01 and a two-hundred day simple moving average of $30.70. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.26 and a quick ratio of 2.26. Sykes Enterprises has a one year low of $22.12 and a one year high of $38.24. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 2.04 and a beta of 0.83.

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.

Recommended Story: Outstanding Shares

Get a free copy of the Zacks research report on Sykes Enterprises (SYKE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Sykes Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sykes Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.