$0.71 EPS Expected for Sysco Corporation (NYSE:SYY) This Quarter

Equities research analysts expect Sysco Corporation (NYSE:SYY) to announce earnings per share (EPS) of $0.71 for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Sysco Corporation’s earnings, with the highest EPS estimate coming in at $0.73 and the lowest estimate coming in at $0.69. Sysco Corporation posted earnings per share of $0.64 during the same quarter last year, which indicates a positive year over year growth rate of 10.9%. The firm is scheduled to issue its next earnings results before the market opens on Monday, August 14th.

According to Zacks, analysts expect that Sysco Corporation will report full-year earnings of $2.47 per share for the current financial year, with EPS estimates ranging from $2.45 to $2.50. For the next fiscal year, analysts expect that the firm will report earnings of $2.75 per share, with EPS estimates ranging from $2.68 to $2.82. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Sysco Corporation.

Sysco Corporation (NYSE:SYY) last released its quarterly earnings data on Monday, May 8th. The company reported $0.51 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.51. The firm had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.14 billion. Sysco Corporation had a net margin of 1.93% and a return on equity of 47.28%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 EPS.

SYY has been the topic of several research reports. Wells Fargo & Company reissued a “buy” rating on shares of Sysco Corporation in a report on Friday, June 23rd. BMO Capital Markets reaffirmed a “buy” rating and set a $60.00 price target on shares of Sysco Corporation in a report on Tuesday, June 27th. Bank of America Corporation reaffirmed a “buy” rating and set a $61.00 price target on shares of Sysco Corporation in a report on Monday, June 26th. Zacks Investment Research downgraded Sysco Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $57.00 price target on shares of Sysco Corporation in a report on Friday, June 23rd. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $56.02.

COPYRIGHT VIOLATION NOTICE: “$0.71 EPS Expected for Sysco Corporation (NYSE:SYY) This Quarter” was originally published by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this article on another site, it was copied illegally and republished in violation of US and international copyright & trademark laws. The correct version of this article can be read at https://stocknewstimes.com/2017/08/12/0-71-eps-expected-for-sysco-corporation-nysesyy-this-quarter-updated-updated.html.

Shares of Sysco Corporation (SYY) traded up 0.81% during mid-day trading on Tuesday, reaching $51.97. 2,365,959 shares of the company’s stock were exchanged. The stock has a market cap of $27.81 billion, a price-to-earnings ratio of 27.40 and a beta of 0.52. Sysco Corporation has a 52-week low of $47.15 and a 52-week high of $57.07. The stock’s 50-day moving average is $51.97 and its 200-day moving average is $52.83.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, July 7th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Wednesday, July 5th. Sysco Corporation’s payout ratio is 69.47%.

In related news, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $55.55, for a total transaction of $1,666,500.00. Following the completion of the transaction, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at $22,593,573.75. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Wayne Shurts sold 15,600 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $54.25, for a total value of $846,300.00. Following the transaction, the insider now directly owns 58,776 shares of the company’s stock, valued at $3,188,598. The disclosure for this sale can be found here. In the last ninety days, insiders sold 152,400 shares of company stock valued at $8,121,300. Corporate insiders own 8.81% of the company’s stock.

A number of institutional investors have recently made changes to their positions in SYY. North Star Investment Management Corp. raised its stake in Sysco Corporation by 81.2% in the first quarter. North Star Investment Management Corp. now owns 1,944 shares of the company’s stock valued at $101,000 after buying an additional 871 shares during the last quarter. TrimTabs Asset Management LLC raised its stake in Sysco Corporation by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock valued at $112,000 after buying an additional 1,016 shares during the last quarter. Howe & Rusling Inc. raised its stake in Sysco Corporation by 81.1% in the first quarter. Howe & Rusling Inc. now owns 2,595 shares of the company’s stock valued at $135,000 after buying an additional 1,162 shares during the last quarter. Kistler Tiffany Companies LLC raised its stake in Sysco Corporation by 0.4% in the first quarter. Kistler Tiffany Companies LLC now owns 2,903 shares of the company’s stock valued at $151,000 after buying an additional 13 shares during the last quarter. Finally, Blue Chip Partners Inc. raised its stake in Sysco Corporation by 0.6% in the first quarter. Blue Chip Partners Inc. now owns 2,949 shares of the company’s stock valued at $153,000 after buying an additional 19 shares during the last quarter. 78.56% of the stock is owned by institutional investors.

Sysco Corporation Company Profile

Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.

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

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

Earnings History and Estimates for Sysco Corporation (NYSE:SYY)

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

Latest News

Leave a Reply