Sykes Enterprises, Incorporated (NASDAQ:SYKE) – Equities researchers at Barrington Research lowered their Q2 2021 earnings per share estimates for shares of Sykes Enterprises in a research report issued on Thursday, May 6th. Barrington Research analyst V. Colicchio now forecasts that the information technology services provider will earn $0.58 per share for the quarter, down from their prior estimate of $0.70. Barrington Research currently has a “Outperform” rating and a $50.00 target price on the stock. Barrington Research also issued estimates for Sykes Enterprises’ Q3 2021 earnings at $0.82 EPS, Q4 2021 earnings at $0.95 EPS, FY2021 earnings at $3.07 EPS and FY2022 earnings at $3.30 EPS.
Separately, Zacks Investment Research lowered shares of Sykes Enterprises from a “buy” rating to a “hold” rating in a research note on Wednesday, February 24th.
Shares of SYKE opened at $43.30 on Monday. Sykes Enterprises has a 52 week low of $22.87 and a 52 week high of $46.68. The firm has a market cap of $1.72 billion, a P/E ratio of 32.80, a price-to-earnings-growth ratio of 1.42 and a beta of 0.89. The firm’s 50-day simple moving average is $44.44 and its 200 day simple moving average is $40.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.97 and a current ratio of 1.97. Sykes Enterprises (NASDAQ:SYKE) last announced its quarterly earnings results on Tuesday, May 4th. The information technology services provider reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.04. Sykes Enterprises had a net margin of 3.21% and a return on equity of 12.31%. The business had revenue of $457.80 million for the quarter, compared to analyst estimates of $457.38 million. During the same quarter in the prior year, the business earned $0.44 EPS. Sykes Enterprises’s quarterly revenue was up 11.3% on a year-over-year basis.
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In other Sykes Enterprises news, VP James T. Holder sold 10,000 shares of the stock in a transaction that occurred on Friday, February 26th. The shares were sold at an average price of $41.22, for a total transaction of $412,200.00. Also, Director William J. Meurer sold 43,687 shares of the stock in a transaction that occurred on Thursday, March 11th. The stock was sold at an average price of $44.93, for a total transaction of $1,962,856.91. In the last 90 days, insiders have sold 76,075 shares of company stock worth $3,368,793. Company insiders own 4.40% of the company’s stock.
Large investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in shares of Sykes Enterprises by 5.5% during the 1st quarter. BlackRock Inc. now owns 6,476,133 shares of the information technology services provider’s stock worth $285,467,000 after acquiring an additional 335,234 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Sykes Enterprises by 48.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 26,283 shares of the information technology services provider’s stock worth $1,159,000 after acquiring an additional 8,604 shares in the last quarter. IndexIQ Advisors LLC boosted its position in shares of Sykes Enterprises by 17.4% during the 1st quarter. IndexIQ Advisors LLC now owns 9,069 shares of the information technology services provider’s stock worth $400,000 after acquiring an additional 1,346 shares in the last quarter. Rhumbline Advisers lifted its stake in Sykes Enterprises by 0.7% in the 1st quarter. Rhumbline Advisers now owns 137,259 shares of the information technology services provider’s stock valued at $6,050,000 after purchasing an additional 927 shares during the last quarter. Finally, Virginia Retirement Systems ET AL lifted its stake in Sykes Enterprises by 3.1% in the 1st quarter. Virginia Retirement Systems ET AL now owns 53,600 shares of the information technology services provider’s stock valued at $2,363,000 after purchasing an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.
About Sykes Enterprises
Sykes Enterprises, Incorporated, together with its subsidiaries, provides customer experience management, multichannel demand generation, and digital transformation services. The company’s 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 offers health information and dispatching roadside assistance.
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