Sysco Co. (NYSE:SYY) Expected to Post Earnings of $0.86 Per Share

Equities analysts forecast that Sysco Co. (NYSE:SYY) will report earnings per share of $0.86 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Sysco’s earnings, with estimates ranging from $0.70 to $1.01. Sysco reported earnings per share of $0.34 during the same quarter last year, which suggests a positive year-over-year growth rate of 152.9%. The business is expected to issue its next quarterly earnings results on Tuesday, November 2nd.

On average, analysts expect that Sysco will report full year earnings of $3.49 per share for the current financial year, with EPS estimates ranging from $3.45 to $3.55. For the next year, analysts expect that the company will post earnings of $4.19 per share, with EPS estimates ranging from $3.85 to $4.39. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Sysco.

Sysco (NYSE:SYY) last announced its earnings results on Monday, August 9th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. The firm had revenue of $16.14 billion during the quarter, compared to analysts’ expectations of $14.65 billion. Sysco had a return on equity of 52.19% and a net margin of 1.02%. The company’s revenue was up 82.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.29) earnings per share.

A number of research analysts recently commented on the company. Morgan Stanley upped their target price on Sysco from $88.00 to $89.00 and gave the company an “equal weight” rating in a research note on Monday, May 24th. Barclays upped their target price on Sysco from $80.00 to $83.00 and gave the company an “equal weight” rating in a research note on Friday, May 21st. UBS Group started coverage on Sysco in a research report on Thursday, July 29th. They issued a “buy” rating and a $89.00 price target on the stock. Finally, TheStreet upgraded Sysco from a “c” rating to a “b-” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $85.78.

In related news, EVP Greg D. Bertrand sold 7,230 shares of the business’s stock in a transaction on Friday, August 27th. The stock was sold at an average price of $80.00, for a total transaction of $578,400.00. Following the sale, the executive vice president now owns 32,238 shares in the company, valued at approximately $2,579,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.17% of the company’s stock.

A number of hedge funds have recently bought and sold shares of SYY. Parametric Portfolio Associates LLC grew its holdings in shares of Sysco by 11.2% in the second quarter. Parametric Portfolio Associates LLC now owns 2,178,015 shares of the company’s stock valued at $169,341,000 after acquiring an additional 219,472 shares in the last quarter. BDO Wealth Advisors LLC grew its holdings in Sysco by 24.2% during the second quarter. BDO Wealth Advisors LLC now owns 5,137 shares of the company’s stock valued at $399,000 after purchasing an additional 1,000 shares during the period. Sawtooth Solutions LLC bought a new position in Sysco during the second quarter valued at $235,000. Leelyn Smith LLC grew its holdings in Sysco by 1.8% during the second quarter. Leelyn Smith LLC now owns 26,502 shares of the company’s stock valued at $2,061,000 after purchasing an additional 470 shares during the period. Finally, Headinvest LLC grew its holdings in Sysco by 13.2% during the second quarter. Headinvest LLC now owns 6,606 shares of the company’s stock valued at $513,000 after purchasing an additional 770 shares during the period. 79.81% of the stock is currently owned by institutional investors and hedge funds.

Shares of SYY stock opened at $76.09 on Wednesday. Sysco has a 12 month low of $53.85 and a 12 month high of $86.73. The firm has a market cap of $38.96 billion, a PE ratio of 75.34, a price-to-earnings-growth ratio of 2.44 and a beta of 1.45. The stock has a 50 day moving average of $75.85 and a 200-day moving average of $78.70. The company has a quick ratio of 0.96, a current ratio of 1.47 and a debt-to-equity ratio of 6.82.

The firm also recently declared a dividend, which will be paid on Thursday, September 30th. Stockholders of record on Thursday, September 16th will be issued a dividend of $0.47 per share. The ex-dividend date is Wednesday, September 15th. This represents a dividend yield of 2.4%. Sysco’s dividend payout ratio (DPR) is currently 130.56%.

Sysco Company Profile

Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.

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Earnings History and Estimates for Sysco (NYSE:SYY)

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