Sykes Enterprises, Incorporated Upgraded to “Buy” by TheStreet (SYKE)

Sykes Enterprises, Incorporated (NASDAQ: SYKE) was upgraded by TheStreet from a “hold” rating to a “buy” rating in a research note issued on Thursday, AnalystRatings.Net reports.

The analysts wrote, “Sykes (SYKE) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, increase in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.”

A number of other analysts have also recently weighed in on SYKE. Analysts at Wells Fargo upgraded shares of Sykes Enterprises, Incorporated from a “market perform” rating to an “outperform” rating in a research note to investors on Wednesday, March 27th. Analysts at Zacks downgraded shares of Sykes Enterprises, Incorporated from a “neutral” rating to an “underperform” rating in a research note to investors on Monday, March 4th. They now have a $14.20 price target on the stock.

Shares of Sykes Enterprises, Incorporated (NASDAQ: SYKE) opened at 15.57 on Thursday. Sykes Enterprises, Incorporated has a 52 week low of $12.81 and a 52 week high of $16.52. The stock’s 50-day moving average is currently $15.28. The company has a market cap of $670.4 million and a P/E ratio of 23.63.

Sykes Enterprises, Incorporated (NASDAQ: SYKE) last announced its earnings results on Monday, February 25th. The company reported $0.39 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.31 by $0.08. The company had revenue of $304.30 million for the quarter, compared to the consensus estimate of $302.93 million. During the same quarter last year, the company posted $0.34 earnings per share. Sykes Enterprises, Incorporated’s revenue was up 10.2% compared to the same quarter last year. Sykes Enterprises, Incorporated has set its Q1 guidance at $0.18-0.20 EPS. Analysts expect that Sykes Enterprises, Incorporated will post $1.21 EPS for the current fiscal year.

Sykes Enterprises, Incorporated (NASDAQ: SYKE) is engaged in providing outsourced customer contact management solutions and services in the business process outsourcing (BPO) arena.

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