SYSCO Co. (SYY) Expected to Post Earnings of $0.77 Per Share

Share on StockTwits

Analysts expect SYSCO Co. (NYSE:SYY) to announce $0.77 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for SYSCO’s earnings, with estimates ranging from $0.73 to $0.80. SYSCO posted earnings of $0.66 per share in the same quarter last year, which suggests a positive year over year growth rate of 16.7%. The company is scheduled to report its next earnings report on Monday, February 4th.

On average, analysts expect that SYSCO will report full year earnings of $3.43 per share for the current year, with EPS estimates ranging from $3.37 to $3.48. For the next fiscal year, analysts anticipate that the company will report earnings of $3.79 per share, with EPS estimates ranging from $3.70 to $3.89. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover SYSCO.

SYSCO (NYSE:SYY) last released its earnings results on Monday, November 5th. The company reported $0.91 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.01). The company had revenue of $15.22 billion for the quarter, compared to analysts’ expectations of $15.39 billion. SYSCO had a net margin of 2.44% and a return on equity of 68.15%. SYSCO’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 earnings per share.

Several equities analysts have recently commented on the company. ValuEngine downgraded SYSCO from a “buy” rating to a “hold” rating in a research report on Tuesday. Argus boosted their price objective on SYSCO from $67.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, August 16th. Jefferies Financial Group set a $68.00 price objective on SYSCO and gave the company a “hold” rating in a research report on Monday, August 13th. Zacks Investment Research downgraded SYSCO from a “hold” rating to a “sell” rating in a research report on Monday, July 23rd. Finally, Wells Fargo & Co boosted their price objective on SYSCO from $71.00 to $80.00 and gave the company a “$70.32” rating in a research report on Wednesday, July 18th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. SYSCO currently has a consensus rating of “Hold” and an average price target of $73.15.

In other news, Director Richard G. Tilghman sold 5,000 shares of SYSCO stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $73.82, for a total value of $369,100.00. Following the sale, the director now directly owns 66,137 shares of the company’s stock, valued at $4,882,233.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Brian R. Todd sold 9,147 shares of SYSCO stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $73.82, for a total value of $675,231.54. Following the completion of the sale, the senior vice president now directly owns 11,747 shares in the company, valued at $867,163.54. The disclosure for this sale can be found here. Insiders sold 3,969,811 shares of company stock worth $297,370,093 over the last 90 days. Company insiders own 7.88% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Blue Chip Partners Inc. bought a new stake in shares of SYSCO in the second quarter worth about $104,000. Quad Cities Investment Group LLC bought a new stake in shares of SYSCO in the second quarter worth about $111,000. Flagship Harbor Advisors LLC bought a new stake in shares of SYSCO in the second quarter worth about $121,000. Fort L.P. bought a new stake in shares of SYSCO in the second quarter worth about $123,000. Finally, Daiwa SB Investments Ltd. bought a new stake in shares of SYSCO in the third quarter worth about $132,000. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

NYSE SYY traded up $2.24 on Friday, hitting $66.69. 345,894 shares of the company traded hands, compared to its average volume of 2,381,205. The company has a market capitalization of $37.12 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 1.93 and a beta of 0.56. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.74 and a current ratio of 1.21. SYSCO has a 52-week low of $52.30 and a 52-week high of $75.98.

About SYSCO

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.

Further Reading: How dollar cost averaging works

Get a free copy of the Zacks research report on SYSCO (SYY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for SYSCO (NYSE:SYY)

Receive News & Ratings for SYSCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SYSCO and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply