Sysco (SYY) to Release Earnings on Tuesday

Sysco (NYSE:SYY) is scheduled to be posting its quarterly earnings results before the market opens on Tuesday, July 30th. Analysts expect Sysco to post earnings of $1.38 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 registering for the company’s earnings conference call can do so using this link.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The firm had revenue of $19.38 billion during the quarter, compared to analyst estimates of $19.74 billion. Sysco had a net margin of 2.66% and a return on equity of 99.88%. Sysco’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 earnings per share. 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 opened at $72.85 on Monday. The company has a market cap of $36.28 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 1.96 and a beta of 1.18. The firm’s fifty day moving average is $72.27 and its 200 day moving average is $76.08. The company has a quick ratio of 0.77, a current ratio of 1.34 and a debt-to-equity ratio of 5.77. Sysco has a 52-week low of $62.24 and a 52-week high of $82.89.

Analyst Upgrades and Downgrades

SYY has been the topic of a number of recent research reports. Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Tuesday, May 28th. JPMorgan Chase & Co. decreased their price target on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Morgan Stanley decreased their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Bank of America decreased their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Finally, BMO Capital Markets reduced their target price on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

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.