Sysco (SYY) Expected to Announce Earnings of $0.64 Per Share

Equities analysts predict that Sysco (NYSE:SYY) will report earnings per share (EPS) of $0.64 for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Sysco’s earnings. The lowest EPS estimate is $0.61 and the highest is $0.67. Sysco reported earnings per share of $0.51 during the same quarter last year, which indicates a positive year over year growth rate of 25.5%. The company is scheduled to announce its next earnings report before the market opens on Monday, May 7th.

According to Zacks, analysts expect that Sysco will report full-year earnings of $2.92 per share for the current financial year, with EPS estimates ranging from $2.85 to $3.02. For the next fiscal year, analysts anticipate that the firm will post earnings of $3.53 per share, with EPS estimates ranging from $3.45 to $3.65. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Sysco.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Monday, February 5th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The firm had revenue of $14.41 billion for the quarter, compared to the consensus estimate of $14.15 billion. Sysco had a return on equity of 61.02% and a net margin of 2.10%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.58 EPS.



Several analysts have issued reports on the company. Loop Capital boosted their price objective on Sysco from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Credit Suisse Group assumed coverage on Sysco in a report on Tuesday, April 17th. They set an “outperform” rating and a $68.00 price objective on the stock. Morgan Stanley upgraded Sysco from an “underweight” rating to an “equal weight” rating and set a $64.00 price objective on the stock in a report on Tuesday, January 16th. Zacks Investment Research upgraded Sysco from a “hold” rating to a “strong-buy” rating and set a $71.00 price objective on the stock in a report on Wednesday, January 10th. Finally, Citigroup boosted their price objective on Sysco from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, March 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $65.25.

NYSE SYY traded up $0.50 on Thursday, hitting $62.95. 2,054,825 shares of the company were exchanged, compared to its average volume of 2,785,254. The company has a current ratio of 1.38, a quick ratio of 0.85 and a debt-to-equity ratio of 3.66. The company has a market cap of $32,322.43, a PE ratio of 25.38, a PEG ratio of 2.09 and a beta of 0.55. Sysco has a twelve month low of $48.85 and a twelve month high of $64.27.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 6th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, April 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.29%. Sysco’s dividend payout ratio is 58.06%.

In other news, insider Paul T. Moskowitz sold 30,667 shares of the company’s stock in a transaction dated Wednesday, April 18th. The stock was sold at an average price of $62.50, for a total value of $1,916,687.50. Following the transaction, the insider now owns 58,329 shares in the company, valued at approximately $3,645,562.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Wayne Shurts sold 7,800 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $58.98, for a total value of $460,044.00. Following the completion of the transaction, the executive vice president now owns 55,235 shares in the company, valued at approximately $3,257,760.30. The disclosure for this sale can be found here. Insiders sold a total of 79,076 shares of company stock worth $4,838,936 in the last quarter. 9.60% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Summit X LLC grew its stake in shares of Sysco by 9.5% in the 4th quarter. Summit X LLC now owns 9,077 shares of the company’s stock valued at $551,000 after buying an additional 790 shares in the last quarter. Fiduciary Trust Co. grew its stake in shares of Sysco by 1.3% in the 4th quarter. Fiduciary Trust Co. now owns 62,376 shares of the company’s stock valued at $3,788,000 after buying an additional 824 shares in the last quarter. Redmond Asset Management LLC grew its stake in shares of Sysco by 13.8% in the 4th quarter. Redmond Asset Management LLC now owns 7,123 shares of the company’s stock valued at $433,000 after buying an additional 863 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Sysco by 7.6% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 12,315 shares of the company’s stock valued at $748,000 after buying an additional 866 shares in the last quarter. Finally, Cognios Capital LLC grew its stake in shares of Sysco by 2.3% in the 4th quarter. Cognios Capital LLC now owns 38,935 shares of the company’s stock valued at $2,362,000 after buying an additional 867 shares in the last quarter. 79.29% of the stock is owned by institutional investors and hedge funds.

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 in the United States, Canada, Bahamas, Mexico, Costa Rica, Panama, the United Kingdom, France, Sweden, Ireland, Belgium, Spain, and Luxembourg.

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Earnings History and Estimates for Sysco (NYSE:SYY)

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