Wall Street analysts expect Sykes Enterprises, Incorporated (NASDAQ:SYKE) to report $410.03 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Sykes Enterprises’ earnings. The lowest sales estimate is $409.20 million and the highest is $411.54 million. Sykes Enterprises posted sales of $389.15 million in the same quarter last year, which would indicate a positive year over year growth rate of 5.4%. The firm is expected to report its next earnings results after the market closes on Monday, February 26th.
According to Zacks, analysts expect that Sykes Enterprises will report full year sales of $410.03 million for the current year. For the next year, analysts forecast that the firm will report sales of $1.64 billion per share, with estimates ranging from $1.64 billion to $1.65 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Sykes Enterprises.
A number of equities analysts have weighed in on SYKE shares. Robert W. Baird reissued a “hold” rating and issued a $29.00 target price on shares of Sykes Enterprises in a research report on Sunday, October 22nd. BidaskClub lowered Sykes Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, December 2nd. Zacks Investment Research lowered Sykes Enterprises from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Finally, ValuEngine raised Sykes Enterprises from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $32.00.
In other Sykes Enterprises news, CEO Charles E. Sykes sold 10,000 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $31.16, for a total value of $311,600.00. Following the completion of the transaction, the chief executive officer now owns 275,589 shares of the company’s stock, valued at approximately $8,587,353.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Charles E. Sykes sold 40,000 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $31.17, for a total value of $1,246,800.00. Following the completion of the transaction, the chief executive officer now directly owns 285,189 shares of the company’s stock, valued at approximately $8,889,341.13. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of SYKE. BlackRock Inc. grew its stake in shares of Sykes Enterprises by 3.0% during the 4th quarter. BlackRock Inc. now owns 5,096,687 shares of the information technology services provider’s stock valued at $160,292,000 after purchasing an additional 149,701 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Sykes Enterprises during the 4th quarter valued at about $4,076,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Sykes Enterprises by 534.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 137,628 shares of the information technology services provider’s stock valued at $4,328,000 after purchasing an additional 115,928 shares during the period. Acadian Asset Management LLC grew its stake in shares of Sykes Enterprises by 73.2% during the 4th quarter. Acadian Asset Management LLC now owns 226,769 shares of the information technology services provider’s stock valued at $7,131,000 after purchasing an additional 95,855 shares during the period. Finally, Citadel Advisors LLC grew its stake in shares of Sykes Enterprises by 89.2% during the 3rd quarter. Citadel Advisors LLC now owns 181,783 shares of the information technology services provider’s stock valued at $5,301,000 after purchasing an additional 85,705 shares during the period. 85.69% of the stock is owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY NOTICE: “Sykes Enterprises, Incorporated (SYKE) Expected to Announce Quarterly Sales of $410.03 Million” was posted by American Banking News and is owned by of American Banking News. If you are reading this news story on another domain, it was stolen and republished in violation of U.S. & international trademark & copyright law. The original version of this news story can be read at https://www.americanbankingnews.com/2018/02/15/sykes-enterprises-incorporated-syke-expected-to-announce-quarterly-sales-of-410-03-million.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sykes Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sykes Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.