Barclays Maintains an 'Equalweight' on Sysco (SYY); 3Q11 Earnings Preview
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Price: $83.45 +0.47%
Rating Summary:
16 Buy, 13 Hold, 3 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
16 Buy, 13 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Equalweight' on Sysco (NYSE: SYY), PT $29.
Barclays analyst said, "SYY will report 3Q11 EPS on Monday, May 9th. We are forecasting 3Q11 EPS of $0.39, $0.02 below consensus. We expect total
sales to increase by 5.8%, with inflation of 4.0%, real sales growth of 1.2%, and growth from acquisitions of 0.6%."
"We have yet to see signs of a sustainable improvement in the food service industry or SYY's business. Restaurant traffic remains weak, competition is still intense, food inflation has been difficult to pass along, and SYY's expenses are rising faster than sales. We think the stock is fully valued at 15.1x our calendarized 2011 EPS estimate of $1.94."
For more ratings news on Sysco click here and for the rating history of Sysco click here.
Shares of Sysco closed at $29.27 yesterday.
Barclays analyst said, "SYY will report 3Q11 EPS on Monday, May 9th. We are forecasting 3Q11 EPS of $0.39, $0.02 below consensus. We expect total
sales to increase by 5.8%, with inflation of 4.0%, real sales growth of 1.2%, and growth from acquisitions of 0.6%."
"We have yet to see signs of a sustainable improvement in the food service industry or SYY's business. Restaurant traffic remains weak, competition is still intense, food inflation has been difficult to pass along, and SYY's expenses are rising faster than sales. We think the stock is fully valued at 15.1x our calendarized 2011 EPS estimate of $1.94."
For more ratings news on Sysco click here and for the rating history of Sysco click here.
Shares of Sysco closed at $29.27 yesterday.
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