Sykes Enterprises (SYKE) Downgraded to “Sell” at ValuEngine

ValuEngine downgraded shares of Sykes Enterprises (NASDAQ:SYKE) from a hold rating to a sell rating in a report published on Tuesday morning.

A number of other equities analysts have also weighed in on the stock. BidaskClub lowered shares of Sykes Enterprises from a buy rating to a hold rating in a research report on Monday, September 24th. Barrington Research restated a hold rating on shares of Sykes Enterprises in a research report on Friday, October 5th. TheStreet lowered shares of Sykes Enterprises from a b- rating to a c+ rating in a research report on Tuesday, August 21st. Finally, SunTrust Banks restated a buy rating and set a $36.00 target price on shares of Sykes Enterprises in a research report on Friday, July 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Sykes Enterprises currently has an average rating of Hold and a consensus target price of $33.00.

Shares of SYKE traded up $0.29 during mid-day trading on Tuesday, reaching $28.55. The stock had a trading volume of 166,790 shares, compared to its average volume of 150,442. The firm has a market cap of $1.22 billion, a P/E ratio of 14.28, a PEG ratio of 1.36 and a beta of 0.65. Sykes Enterprises has a 12 month low of $25.90 and a 12 month high of $32.15. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.74 and a quick ratio of 2.90.

Sykes Enterprises (NASDAQ:SYKE) last posted its quarterly earnings results on Monday, November 5th. The information technology services provider reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.03. The business had revenue of $399.30 million during the quarter, compared to analyst estimates of $404.79 million. Sykes Enterprises had a net margin of 0.91% and a return on equity of 10.08%. The company’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 earnings per share. Equities analysts anticipate that Sykes Enterprises will post 2.11 earnings per share for the current year.

In related news, VP James T. Holder sold 8,300 shares of the company’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $30.05, for a total transaction of $249,415.00. Following the completion of the transaction, the vice president now owns 19,706 shares in the company, valued at $592,165.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.90% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in SYKE. Robeco Institutional Asset Management B.V. purchased a new stake in Sykes Enterprises during the second quarter valued at $124,000. Itau Unibanco Holding S.A. purchased a new stake in Sykes Enterprises during the second quarter valued at $142,000. Pillar Pacific Capital Management LLC purchased a new stake in Sykes Enterprises during the third quarter valued at $203,000. First Citizens Bank & Trust Co. purchased a new stake in Sykes Enterprises during the second quarter valued at $205,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Sykes Enterprises during the second quarter valued at $242,000. 87.55% of the stock is currently owned by institutional investors.

Sykes Enterprises Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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