Sysco (NYSE:SYY) Releases FY 2022 Earnings Guidance

Sysco (NYSE:SYY) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $3.330-$3.530 for the period, compared to the Thomson Reuters consensus estimate of $3.510. The company issued revenue guidance of -.

NYSE:SYY traded down $0.18 on Thursday, hitting $76.33. The stock had a trading volume of 1,684,491 shares, compared to its average volume of 2,288,663. The stock has a market cap of $39.13 billion, a price-to-earnings ratio of 57.83, a price-to-earnings-growth ratio of 2.06 and a beta of 1.36. The company has a quick ratio of 0.96, a current ratio of 1.38 and a debt-to-equity ratio of 6.36. The business’s 50-day simple moving average is $78.88 and its two-hundred day simple moving average is $77.97. Sysco has a 52-week low of $68.90 and a 52-week high of $86.73.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, November 9th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.03). The firm had revenue of $16.46 billion during the quarter, compared to analysts’ expectations of $15.85 billion. Sysco had a return on equity of 65.93% and a net margin of 1.22%. The company’s revenue for the quarter was up 39.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.34 earnings per share. As a group, equities research analysts anticipate that Sysco will post 3.43 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 28th. Shareholders of record on Tuesday, December 7th will be given a $0.47 dividend. The ex-dividend date is Thursday, January 6th. This represents a $1.88 annualized dividend and a yield of 2.46%. Sysco’s payout ratio is 142.43%.

Several research analysts have issued reports on SYY shares. UBS Group started coverage on Sysco in a research report on Thursday, July 29th. They issued a buy rating and a $89.00 target price on the stock. Morgan Stanley dropped their target price on Sysco from $91.00 to $90.00 and set an equal weight rating on the stock in a research report on Wednesday, October 13th. Finally, TheStreet raised Sysco from a c rating to a b- rating in a research report on Wednesday, September 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $86.43.

In related news, CAO Anita A. Zielinski sold 34,737 shares of Sysco stock in a transaction that occurred on Monday, September 27th. The stock was sold at an average price of $81.83, for a total transaction of $2,842,528.71. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Cathy Marie Robinson sold 7,101 shares of Sysco stock in a transaction that occurred on Thursday, September 23rd. The stock was sold at an average price of $80.00, for a total value of $568,080.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,602 shares of company stock worth $6,932,109. Insiders own 0.31% of the company’s stock.

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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