Will Strong Earnings Drive Sysco Higher?

Last Updated: Friday, November 1, 2019 4:38 PM | Michael Fowlkes

What's Happening with syy

Sysco (SYY) reports fiscal first-quarter numbers November 4. Analysts expect the company to post earnings of $0.97 for the period. During the same period last year the company earned $0.91. The stock has risen 29.7% year to date.

Technical Analysis

SYY was recently trading at $81.25 down $0.34 from its 12-month high and $21.81 above its 12-month low. InvestorsObserver's Stock Score Report gives SYY a 79 long-term technical score and a 83 short-term technical score. The stock has recent support above $78 and recent resistance below $81.5. Of the 7 analysts who cover the stock 2 rate it Strong Buy, 0 rate it Buy, 5 rate it Hold, 0 rate it Sell, and 0 rate it Strong Sell, SYY gets a score of 67 from InvestorsObserver's Stock Score Report.

Analysts' Thoughts

SYY has enjoyed steady gains over the last twelve months, but as the stock has risen, so has its valuation. SYY is currently trading at 25 times earnings, which prices the stock for perfection when it reports its next set of numbers. Analysts expect $0.97 with the street expecting a small earnings beat with a $0.99 whisper. Sysco has reported better than expected profits the last three quarters, and needs another earnings beat for the stock to build on its recent gains. Earnings are expected to rise 10.5% annually over the next five years, which is strong enough to keep the stock trending higher as long as the company is able to consistently post better than expected profits moving forward. Analysts have a $74.10 average price target on the stock.

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