Sykes is an Excellent Outsourcing Stock Pick

Sykes Sykes Enterprises Inc. (NASDAQ: SYKE) is a global provider of Business Process Outsourcing (BPO) services. Based in Tampa Florida, it has operations in the Americas, Europe, the Middle East, Asia, and Australia. It is a leader in its market, serving numerous Global 2000 companies.

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The Coronavirus Pandemic has exposed vulnerabilities in some companies, making agile BPO services more appealing. Sykes surprised analysts in its most recent quarterly fiscal report. Earlier this month it reported earnings per share of $0.71, up from $0.41 a year ago. Revenue was reported at $416.83 million, showing significant growth from the $389.01 million reported a year ago.

Earnings have grown by 43% over the previous 12 months. For the entire 2020 fiscal year, earnings are expected to grow by 8.6%. This growth should attract new investment activity, which has the potential to send the stock price upwards. As it stands today, analysts expect the stock to hit $38.33 in the short term. For investors that buy now, this could mean a significant upside.

BPO services can help companies to decentralize, reduce costs, and maintain their operations during government-enforced lockdowns. This puts Sykes in an interesting position where it could capitalize on changing global business trends. For today’s unique social and economic conditions, Sykes is a strong investment opportunity.

Key Data:

  • 1 Year Price Growth: 48%
  • YTD Price Growth: -9.54%
  • 3 Month Price Growth: 84%

All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.

 

The reports, research and newsletter are based on current and historical market data, as well as publicly available financial data.They are intended to be a starting point for investors. They do not provide every material fact about a company or industry, nor are they recommendations to buy or sell. The writers and the company make no warranties or representations as to the accuracy of these reports.   You should NOT rely solely upon the information or opinions read in the content. Rather, you should use the content as a starting point for doing independent research on the independent analysis and trading methods in the content. The content is impersonal and does not provide individualized advice or recommendations for any specific reader or individual portfolio. By accessing this website you have agreed to our disclaimers and privacy policy.

 

 

The reports, research and newsletter are based on current and historical market data, as well as publicly available financial data.They are intended to be a starting point for investors. They do not provide every material fact about a company or industry, nor are they recommendations to buy or sell. The writers and the company make no warranties or representations as to the accuracy of these reports.   You should NOT rely solely upon the information or opinions read in the content. Rather, you should use the content as a starting point for doing independent research on the independent analysis and trading methods in the content. The content is impersonal and does not provide individualized advice or recommendations for any specific reader or individual portfolio. By accessing this website you have agreed to our disclaimers and privacy policy.

 

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