Sysco (SYY) Scheduled to Post Earnings on Tuesday

Sysco (NYSE:SYY - Get Free Report) is set to issue its quarterly 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.Individual interested in listening to the company's earnings conference call can do so using this link.

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

Sysco Price Performance

Sysco stock traded down $0.38 during midday trading on Tuesday, hitting $76.94. 2,129,608 shares of the company's stock were exchanged, compared to its average volume of 2,916,517. Sysco has a 52-week low of $62.24 and a 52-week high of $82.89. The stock has a 50-day moving average price of $79.33 and a two-hundred day moving average price of $74.55. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.80 and a current ratio of 1.37. The company has a market cap of $38.30 billion, a P/E ratio of 18.91, a PEG ratio of 1.56 and a beta of 1.15.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, April 4th. Sysco's payout ratio is currently 48.90%.

Insider Activity

In other 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 value of $137,760.00. Following the sale, the chief accounting officer now directly owns 24,082 shares of the company's stock, valued at approximately $1,926,560. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.58% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SYY. StockNews.com cut Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 1st. BMO Capital Markets upped their price objective on Sysco from $85.00 to $90.00 and gave the stock an "outperform" rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. increased their target price on Sysco from $84.00 to $87.00 and gave the company an "overweight" rating in a report on Tuesday, March 19th. Barclays increased their target price on Sysco from $85.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, January 31st. Finally, Stephens increased their target price on Sysco from $80.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, January 31st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $85.38.

Sysco Company Profile

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.