Sysco Corp. (SYY) Announces Quarterly Earnings, Meets Expectations
Sysco Corp. (NYSE:SYY) announced its earnings results on Monday. The company reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50, ARN reports. The company had revenue of $12.29 billion for the quarter, compared to the consensus estimate of $12.14 billion.
Sysco Corp. (NYSE:SYY) opened at 36.27 on Monday. Sysco Corp. has a 52 week low of $31.13 and a 52 week high of $43.40. The stock has a 50-day moving average of $36.82 and a 200-day moving average of $36.38. The company has a market cap of $21.202 billion and a price-to-earnings ratio of 22.39.
A number of research firms have recently commented on SYY. Analysts at Jefferies Group reiterated a “hold” rating on shares of Sysco Corp. in a research note on Thursday, July 24th. They now have a $35.00 price target on the stock, down previously from $40.00. On a related note, analysts at Morgan Stanley initiated coverage on shares of Sysco Corp. in a research note on Wednesday, June 25th. They set an “equal weight” rating on the stock. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Sysco Corp. in a research note on Monday, June 16th. They now have a $40.00 price target on the stock, up previously from $36.00. Six equities research analysts have rated the stock with a hold rating, Sysco Corp. presently has a consensus rating of “Hold” and an average target price of $35.75.
Sysco Corporation (NYSE:SYY), along with its subsidiaries and divisions, is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry.
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