Sykes Enterprises (SYKE) Rating Lowered to Hold at BidaskClub

Sykes Enterprises (NASDAQ:SYKE) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Saturday.

SYKE has been the subject of several other reports. Robert W. Baird lowered their price objective on shares of Sykes Enterprises from $36.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, August 8th. Zacks Investment Research raised shares of Sykes Enterprises from a “strong sell” rating to a “hold” rating and set a $33.00 price objective for the company in a research note on Wednesday, October 11th. Finally, SunTrust Banks reissued a “buy” rating and set a $34.00 price objective on shares of Sykes Enterprises in a research note on Monday, October 9th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Sykes Enterprises currently has an average rating of “Hold” and a consensus target price of $33.50.

Sykes Enterprises (NASDAQ:SYKE) traded down $0.68 during mid-day trading on Friday, reaching $31.14. 172,072 shares of the company’s stock traded hands, compared to its average volume of 237,269. The stock has a market cap of $1,365.00, a PE ratio of 15.52, a P/E/G ratio of 1.65 and a beta of 0.89. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.29 and a quick ratio of 3.29. Sykes Enterprises has a 12-month low of $25.77 and a 12-month high of $34.49.

Sykes Enterprises (NASDAQ:SYKE) last released its earnings results on Monday, November 6th. The information technology services provider reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.18. The firm had revenue of $407.31 million during the quarter, compared to analysts’ expectations of $399.22 million. Sykes Enterprises had a net margin of 4.32% and a return on equity of 11.33%. Sykes Enterprises’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 EPS. equities analysts anticipate that Sykes Enterprises will post 1.93 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in SYKE. BlackRock Inc. grew its stake in shares of Sykes Enterprises by 48,788.9% during the 1st quarter. BlackRock Inc. now owns 4,860,043 shares of the information technology services provider’s stock valued at $142,885,000 after buying an additional 4,850,102 shares during the period. Norges Bank purchased a new stake in Sykes Enterprises during the 4th quarter worth $19,123,000. Emerald Acquisition Ltd. purchased a new stake in Sykes Enterprises during the 2nd quarter worth $17,447,000. Copper Rock Capital Partners LLC purchased a new stake in Sykes Enterprises during the 1st quarter worth $17,766,000. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in Sykes Enterprises during the 4th quarter worth $16,759,000. 85.70% of the stock is owned by institutional investors.

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About Sykes Enterprises

Sykes Enterprises, Incorporated is engaged in providing outsourced customer contact management solutions and services in the business process outsourcing (BPO) arena on a global basis. The Company has operations in two segments: the Americas, which includes the United States, Canada, Latin America, Australia and the Asia Pacific Rim, and EMEA, which includes Europe, the Middle East and Africa.

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