Sykes Enterprises (NASDAQ:SYKE) Raised to “Strong-Buy” at BidaskClub

BidaskClub upgraded shares of Sykes Enterprises (NASDAQ:SYKE) from a buy rating to a strong-buy rating in a research note released on Wednesday morning, BidAskClub reports.

A number of other analysts have also recently issued reports on SYKE. Sidoti cut their price objective on Sykes Enterprises from $39.00 to $36.00 and set a buy rating for the company in a research report on Wednesday, July 31st. TheStreet raised Sykes Enterprises from a c+ rating to a b- rating in a research report on Wednesday, July 24th. Finally, ValuEngine cut Sykes Enterprises from a hold rating to a sell rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $33.50.

SYKE stock opened at $28.54 on Wednesday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average price of $27.86 and a two-hundred day moving average price of $27.76. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 14.13, a P/E/G ratio of 1.34 and a beta of 0.84. Sykes Enterprises has a twelve month low of $22.67 and a twelve month high of $31.47.

Sykes Enterprises (NASDAQ:SYKE) last released its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.11. Sykes Enterprises had a return on equity of 10.36% and a net margin of 3.35%. The company had revenue of $389.00 million during the quarter, compared to analysts’ expectations of $395.88 million. During the same period last year, the firm posted $0.42 earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. On average, equities research analysts anticipate that Sykes Enterprises will post 2.1 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in Sykes Enterprises by 68.4% during the 1st quarter. Versant Capital Management Inc now owns 1,135 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 461 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in Sykes Enterprises by 3,276.7% during the 1st quarter. Meeder Asset Management Inc. now owns 1,452 shares of the information technology services provider’s stock worth $41,000 after purchasing an additional 1,409 shares during the last quarter. Quantamental Technologies LLC acquired a new stake in Sykes Enterprises during the 1st quarter worth approximately $51,000. Crossmark Global Holdings Inc. acquired a new stake in Sykes Enterprises during the 1st quarter worth approximately $202,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Sykes Enterprises during the 2nd quarter worth approximately $203,000. 89.61% 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.

Recommended Story: What is required to own or exchange cryptocurrency?

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.