“We believe the margin overage was due to the benefits of revenue upside and strong execution of management’s margin enhancement initiatives.”,” the firm’s analyst wrote.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Sykes Enterprises from a hold rating to a sell rating in a report on Thursday, May 3rd. ValuEngine upgraded shares of Sykes Enterprises from a hold rating to a buy rating in a report on Friday, February 2nd. BidaskClub cut shares of Sykes Enterprises from a hold rating to a sell rating in a report on Tuesday, May 8th. Finally, TheStreet cut shares of Sykes Enterprises from a b- rating to a c+ rating in a report on Monday, April 16th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $31.00.
Shares of Sykes Enterprises opened at $27.46 on Thursday, according to Marketbeat Ratings. Sykes Enterprises has a one year low of $25.77 and a one year high of $34.49. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 1.34 and a beta of 0.84. The company has a quick ratio of 2.86, a current ratio of 2.86 and a debt-to-equity ratio of 0.12.
Sykes Enterprises (NASDAQ:SYKE) last announced its earnings results on Monday, May 7th. The information technology services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.28 by $0.15. Sykes Enterprises had a net margin of 1.51% and a return on equity of 10.07%. The company had revenue of $414.37 million during the quarter, compared to analysts’ expectations of $409.96 million. During the same period last year, the company posted $0.54 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. analysts anticipate that Sykes Enterprises will post 2.04 earnings per share for the current fiscal year.
In related news, insider David Pearson sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $31.25, for a total transaction of $156,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Lawrence Zingale sold 16,776 shares of the firm’s stock in a transaction that occurred on Monday, March 26th. The stock was sold at an average price of $29.05, for a total transaction of $487,342.80. Following the sale, the insider now owns 49,708 shares of the company’s stock, valued at $1,444,017.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,776 shares of company stock valued at $830,373. 2.90% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the stock. Teachers Advisors LLC boosted its holdings in shares of Sykes Enterprises by 2.1% during the fourth quarter. Teachers Advisors LLC now owns 96,914 shares of the information technology services provider’s stock worth $3,048,000 after purchasing an additional 2,039 shares during the period. Macquarie Group Ltd. boosted its holdings in shares of Sykes Enterprises by 48.8% during the fourth quarter. Macquarie Group Ltd. now owns 6,346 shares of the information technology services provider’s stock worth $200,000 after purchasing an additional 2,080 shares during the period. Comerica Bank lifted its stake in Sykes Enterprises by 2.3% in the first quarter. Comerica Bank now owns 140,850 shares of the information technology services provider’s stock valued at $4,227,000 after acquiring an additional 3,120 shares during the last quarter. Swiss National Bank lifted its stake in Sykes Enterprises by 6.3% in the fourth quarter. Swiss National Bank now owns 67,723 shares of the information technology services provider’s stock valued at $2,130,000 after acquiring an additional 4,000 shares during the last quarter. Finally, Aperio Group LLC lifted its stake in Sykes Enterprises by 16.1% in the fourth quarter. Aperio Group LLC now owns 33,972 shares of the information technology services provider’s stock valued at $1,068,000 after acquiring an additional 4,711 shares during the last quarter. Institutional investors and hedge funds own 89.82% of the company’s stock.
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.
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