Sykes Enterprises (NASDAQ:SYKE) PT Lowered to $36.00

Sykes Enterprises (NASDAQ:SYKE) had its target price reduced by Sidoti from $39.00 to $36.00 in a research report issued to clients and investors on Wednesday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the information technology services provider’s stock. Sidoti’s target price points to a potential upside of 28.85% from the company’s previous close.

Several other brokerages have also commented on SYKE. SunTrust Banks lowered shares of Sykes Enterprises from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $33.00 to $31.00 in a report on Friday, April 12th. BidaskClub upgraded shares of Sykes Enterprises from a “hold” rating to a “buy” rating in a report on Wednesday, July 17th. Finally, TheStreet upgraded shares of Sykes Enterprises from a “c+” rating to a “b-” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $33.50.

Shares of Sykes Enterprises stock traded down $0.06 during trading on Wednesday, reaching $27.94. 8,761 shares of the stock were exchanged, compared to its average volume of 110,949. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.33. The stock’s fifty day moving average is $27.55. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 1.36 and a beta of 0.85. Sykes Enterprises has a 1 year low of $22.67 and a 1 year high of $31.47.

Sykes Enterprises (NASDAQ:SYKE) last posted its earnings results on Tuesday, July 30th. The information technology services provider reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.11. The company had revenue of $389.00 million during the quarter, compared to analyst estimates of $395.88 million. Sykes Enterprises had a net margin of 3.08% and a return on equity of 10.53%. Sykes Enterprises’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share. On average, analysts predict that Sykes Enterprises will post 2.14 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Boston Partners lifted its holdings in Sykes Enterprises by 2.5% in the first quarter. Boston Partners now owns 1,297,251 shares of the information technology services provider’s stock worth $36,686,000 after buying an additional 32,161 shares during the period. Nordea Investment Management AB lifted its holdings in Sykes Enterprises by 1.5% in the first quarter. Nordea Investment Management AB now owns 157,372 shares of the information technology services provider’s stock worth $4,450,000 after buying an additional 2,331 shares during the period. Victory Capital Management Inc. lifted its holdings in Sykes Enterprises by 9.8% in the first quarter. Victory Capital Management Inc. now owns 1,906,423 shares of the information technology services provider’s stock worth $53,914,000 after buying an additional 170,805 shares during the period. Kennedy Capital Management Inc. lifted its holdings in Sykes Enterprises by 4.2% in the first quarter. Kennedy Capital Management Inc. now owns 186,918 shares of the information technology services provider’s stock worth $5,286,000 after buying an additional 7,585 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Sykes Enterprises by 0.5% in the fourth quarter. Principal Financial Group Inc. now owns 323,012 shares of the information technology services provider’s stock worth $7,988,000 after buying an additional 1,464 shares during the period. Institutional investors and hedge funds own 88.66% of the company’s stock.

About Sykes Enterprises

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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