Sykes Enterprises, Incorporated (NASDAQ:SYKE) Issues Q2 Earnings Guidance

Sykes Enterprises, Incorporated (NASDAQ:SYKE) issued an update on its second quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.42-0.45 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.32. The company issued revenue guidance of $397-402 million, compared to the consensus revenue estimate of $376.83 million.Sykes Enterprises, also updated its FY17 guidance to $1.77-1.83 EPS.

Sykes Enterprises, Incorporated (NASDAQ SYKE) opened at 26.14 on Friday. The stock has a 50 day moving average price of $31.90 and a 200 day moving average price of $30.68. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 16.44 and a beta of 0.75. Sykes Enterprises, Incorporated has a 1-year low of $25.77 and a 1-year high of $34.49.

Sykes Enterprises, (NASDAQ:SYKE) last announced its quarterly earnings data on Monday, August 7th. The information technology services provider reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.05. The company had revenue of $375.40 million during the quarter, compared to analysts’ expectations of $376.83 million. Sykes Enterprises, had a return on equity of 11.21% and a net margin of 4.36%. Sykes Enterprises,’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 EPS. Analysts predict that Sykes Enterprises, Incorporated will post $1.80 EPS for the current year.

Several equities analysts have recently weighed in on the company. Zacks Investment Research cut Sykes Enterprises, from a hold rating to a strong sell rating in a report on Saturday, August 12th. Robert W. Baird decreased their price objective on Sykes Enterprises, from $36.00 to $30.00 and set a neutral rating for the company in a report on Tuesday, August 8th.

In related news, VP James T. Holder sold 2,500 shares of Sykes Enterprises, stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $33.00, for a total transaction of $82,500.00. Following the completion of the transaction, the vice president now owns 19,119 shares in the company, valued at $630,927. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jenna Nelson sold 3,672 shares of Sykes Enterprises, stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $33.99, for a total value of $124,811.28. Following the transaction, the insider now owns 14,520 shares of the company’s stock, valued at approximately $493,534.80. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

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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.

Earnings History and Estimates for Sykes Enterprises, (NASDAQ:SYKE)

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