Sykes Enterprises (SYKE) Downgraded by BidaskClub

BidaskClub downgraded shares of Sykes Enterprises (NASDAQ:SYKE) from a hold rating to a sell rating in a research note released on Friday, July 27th.

SYKE has been the subject of several other research reports. Zacks Investment Research upgraded shares of Sykes Enterprises from a hold rating to a buy rating and set a $30.00 target price for the company in a research note on Friday, May 11th. ValuEngine lowered shares of Sykes Enterprises from a hold rating to a sell rating in a research note on Wednesday, May 9th. TheStreet lowered shares of Sykes Enterprises from a b- rating to a c+ rating in a research note on Monday, April 16th. Finally, Barrington Research reiterated a hold rating on shares of Sykes Enterprises in a research note on Thursday, May 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $31.67.

Shares of NASDAQ SYKE traded down $0.41 during trading on Friday, reaching $28.48. 109,963 shares of the stock were exchanged, compared to its average volume of 91,654. Sykes Enterprises has a twelve month low of $25.77 and a twelve month high of $32.15. The company has a current ratio of 2.90, a quick ratio of 2.86 and a debt-to-equity ratio of 0.11. The stock has a market cap of $1.24 billion, a P/E ratio of 14.89, a PEG ratio of 1.40 and a beta of 0.76.

Sykes Enterprises (NASDAQ:SYKE) last posted its earnings results on Monday, August 6th. The information technology services provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.09. The business had revenue of $396.80 million for the quarter, compared to analysts’ expectations of $402.95 million. Sykes Enterprises had a net margin of 1.39% and a return on equity of 10.28%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 earnings per share. research analysts expect that Sykes Enterprises will post 2.07 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Robeco Institutional Asset Management B.V. acquired a new stake in Sykes Enterprises during the 2nd quarter worth about $124,000. Macquarie Group Ltd. raised its holdings in Sykes Enterprises by 48.8% during the 4th quarter. Macquarie Group Ltd. now owns 6,346 shares of the information technology services provider’s stock worth $200,000 after buying an additional 2,080 shares during the period. AMP Capital Investors Ltd acquired a new stake in Sykes Enterprises during the 4th quarter worth about $217,000. First Citizens Bank & Trust Co. acquired a new stake in Sykes Enterprises during the 2nd quarter worth about $205,000. Finally, Pitcairn Co. acquired a new stake in Sykes Enterprises during the 1st quarter worth about $207,000. 86.97% of the stock is owned by institutional investors.

Sykes Enterprises Company Profile

Sykes Enterprises, Incorporated, together with its subsidiaries, provides multichannel demand generation and global customer engagement services. Its 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 providing health information and dispatching roadside assistance.

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