Sysco (SYY) to Release Earnings on Tuesday

Sysco (NYSE:SYY) is scheduled to be releasing its earnings data before the market opens on Tuesday, April 30th. Analysts expect the company to announce earnings of $0.95 per share for the quarter. Sysco has set its FY24 guidance at $4.20-4.40 EPS and its FY 2024 guidance at 4.200-4.400 EPS.Investors interested in participating in the company’s conference call can do so using this link.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The firm had revenue of $19.29 billion during the quarter, compared to analyst estimates of $19.32 billion. During the same quarter in the previous year, the business earned $0.80 EPS. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, analysts expect Sysco to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Sysco Stock Up 0.8 %

NYSE:SYY opened at $77.33 on Tuesday. The stock’s fifty day simple moving average is $79.33 and its 200-day simple moving average is $74.55. The firm has a market capitalization of $38.50 billion, a P/E ratio of 18.91, a P/E/G ratio of 1.56 and a beta of 1.15. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 5.00. Sysco has a 12-month low of $62.24 and a 12-month high of $82.89.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Thursday, April 4th. Sysco’s payout ratio is presently 48.90%.

Analysts Set New Price Targets

Several brokerages have issued reports on SYY. Barclays increased their price target on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. BMO Capital Markets raised their target price on shares of Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Stephens upped their price target on shares of Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $85.38.

Insider Buying and Selling

In other Sysco news, CAO Neil Russell sold 1,722 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the transaction, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.58% of the stock is currently owned by corporate insiders.

About Sysco

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.