Sysco (NYSE:SYY) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Sysco (NYSE:SYY) announced its earnings results on Tuesday. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.01, Briefing.com reports. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The business had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. During the same quarter in the prior year, the firm earned $1.34 earnings per share. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. Sysco updated its FY25 guidance to $4.57-4.65 EPS.

Sysco Trading Up 0.6 %

SYY stock traded up $0.43 during midday trading on Friday, hitting $76.24. The stock had a trading volume of 1,315,605 shares, compared to its average volume of 3,131,724. The firm has a market cap of $37.97 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 2.06 and a beta of 1.18. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.77. Sysco has a 12-month low of $62.24 and a 12-month high of $82.89. The company’s 50-day moving average price is $72.39 and its 200 day moving average price is $76.07.

Analyst Upgrades and Downgrades

SYY has been the subject of several recent research reports. Truist Financial decreased their target price on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Piper Sandler reduced their price objective on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. JPMorgan Chase & Co. dropped their target price on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. UBS Group dropped their target price on shares of Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a report on Tuesday, May 28th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Sysco presently has an average rating of “Moderate Buy” and a consensus price target of $85.27.

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.