Barrington Maintains Their Hold Rating on Sykes Enterprises Inc (SYKE)

By Ryan Adsit

Barrington analyst Vincent Colicchio maintained a Hold rating on Sykes Enterprises Inc (NASDAQ: SYKE) today. The company’s shares closed yesterday at $28.99.

Colicchio wrote:

“We expect SYKES to report Q3/18 non‐GAAP EPS of $0.57, which exceeds the FactSet consensus of $0.56. Our forecast represents a year‐over‐year (YOY) decline of 8% and a sequential increase of 36%. The sequential improvement is largely due to better gross margins and a decline in general and administrative (G&A) costs. The former was due to restructuring actions taken by management to reduce U.S. capacity.”

According to TipRanks.com, Colicchio is a 1-star analyst with an average return of -0.7% and a 45.5% success rate. Colicchio covers the Technology sector, focusing on stocks such as Exlservice Holdings, Convergys Corp, and Computer Task.

Sykes Enterprises Inc has an analyst consensus of Hold.

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Based on Sykes Enterprises Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $7.18 million. In comparison, last year the company had a net profit of $21.7 million.

Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock.

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Sykes Enterprises, Inc. engages in the provision of multichannel demand generation and customer engagement services. The firm operates through the Americas and EMEA segments. The Americas segment is comprised of the United States, Canada, Latin America, Australia, and the Asia Pacific Rim. The EMEA segment includes Europe, the Middle East, and Africa.