Equities research analysts forecast that SYSCO Co. (NYSE:SYY) will report earnings of $1.07 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for SYSCO’s earnings. The lowest EPS estimate is $1.05 and the highest is $1.08. SYSCO reported earnings of $0.94 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 13.8%. The company is expected to report its next quarterly earnings report before the market opens on Monday, August 12th.
On average, analysts expect that SYSCO will report full-year earnings of $3.50 per share for the current year, with EPS estimates ranging from $3.46 to $3.53. For the next year, analysts expect that the business will post earnings of $3.78 per share, with EPS estimates ranging from $3.75 to $3.85. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover SYSCO.
SYSCO (NYSE:SYY) last released its earnings results on Monday, May 6th. The company reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.09. The firm had revenue of $14.66 billion for the quarter, compared to the consensus estimate of $14.78 billion. SYSCO had a return on equity of 73.66% and a net margin of 2.65%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.67 earnings per share.
A number of equities research analysts have weighed in on SYY shares. Loop Capital raised their price objective on SYSCO to $80.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Pivotal Research reissued a “sell” rating and issued a $58.00 price target (up previously from $54.00) on shares of SYSCO in a report on Tuesday, May 7th. Morgan Stanley raised their price target on SYSCO from $69.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 7th. ValuEngine raised USINAS SIDERURG/S from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, Zacks Investment Research raised HB Fuller from a “sell” rating to a “hold” rating in a research note on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $74.21.
SYY stock opened at $72.60 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 3.44. SYSCO has a 1 year low of $59.44 and a 1 year high of $75.98. The firm has a market capitalization of $37.44 billion, a price-to-earnings ratio of 23.12, a P/E/G ratio of 1.94 and a beta of 0.53. The company has a 50-day moving average of $71.54.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Wednesday, July 3rd. SYSCO’s dividend payout ratio (DPR) is currently 49.68%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gulf International Bank UK Ltd grew its stake in shares of SYSCO by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 119,346 shares of the company’s stock worth $7,967,000 after acquiring an additional 1,566 shares during the period. Gofen & Glossberg LLC IL bought a new stake in SYSCO during the first quarter valued at approximately $304,000. Horizon Investments LLC bought a new stake in SYSCO during the first quarter valued at approximately $237,000. Pinnacle Associates Ltd. grew its position in SYSCO by 7.9% during the first quarter. Pinnacle Associates Ltd. now owns 4,750 shares of the company’s stock valued at $317,000 after buying an additional 346 shares during the period. Finally, Calamos Advisors LLC grew its position in SYSCO by 1.0% during the first quarter. Calamos Advisors LLC now owns 99,546 shares of the company’s stock valued at $6,646,000 after buying an additional 974 shares during the period. Institutional investors and hedge funds own 77.58% of the company’s stock.
SYSCO Company Profile
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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