Sysco Corporation (SYY) Set to Announce Earnings on Monday
Sysco Corporation (NYSE:SYY) is scheduled to post its quarterly earnings results before the market opens on Monday, November 6th. Analysts expect Sysco Corporation to post earnings of $0.72 per share for the quarter.
Sysco Corporation (NYSE:SYY) last posted its earnings results on Monday, August 14th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.71 by $0.01. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The firm had revenue of $14.40 billion for the quarter, compared to analyst estimates of $14.35 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. Sysco Corporation’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, analysts expect Sysco Corporation to post $2.77 EPS for the current fiscal year and $3.01 EPS for the next fiscal year.
Sysco Corporation (SYY) opened at 54.80 on Monday. The firm has a market cap of $28.93 billion, a P/E ratio of 26.35 and a beta of 0.52. Sysco Corporation has a 1-year low of $47.43 and a 1-year high of $57.07. The firm has a 50-day moving average of $54.10 and a 200 day moving average of $53.00.
SYY has been the topic of several analyst reports. Zacks Investment Research raised shares of Sysco Corporation from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Friday, July 21st. BMO Capital Markets reissued an “outperform” rating on shares of Sysco Corporation in a research report on Tuesday, September 12th. Wells Fargo & Company reissued a “buy” rating on shares of Sysco Corporation in a research report on Monday, July 17th. Royal Bank Of Canada set a $50.00 target price on shares of Sysco Corporation and gave the stock a “hold” rating in a research report on Friday, August 11th. Finally, Pivotal Research set a $53.00 target price on shares of Sysco Corporation and gave the stock a “hold” rating in a research report on Sunday, August 13th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $56.42.
In other news, EVP Wayne Shurts sold 7,800 shares of Sysco Corporation stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $54.86, for a total value of $427,908.00. Following the completion of the transaction, the executive vice president now directly owns 58,776 shares of the company’s stock, valued at approximately $3,224,451.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William J. Delaney III sold 30,000 shares of Sysco Corporation stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $51.31, for a total transaction of $1,539,300.00. Following the completion of the transaction, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at $20,869,059.75. The disclosure for this sale can be found here. Insiders sold a total of 2,125,781 shares of company stock valued at $114,211,628 over the last ninety days. Company insiders own 9.60% of the company’s stock.
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About Sysco Corporation
Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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