Barclays Adjusts Estimates on Sysco (SYY); Is the Difficult Environment the New Norm?
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Price: $81.85 -1.37%
Rating Summary:
16 Buy, 13 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 2 | Down: 6 | New: 5
Rating Summary:
16 Buy, 13 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 2 | Down: 6 | New: 5
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Barclays maintains an 'Equalweight' on Sysco (NYSE: SYY) price target of $28.00.
Analyst, Meredith Adler, said, "On its 3Q12 EPS conference call, SYY once again provided a very cautious outlook for the industry and its own future results, as restaurants deal with a price sensitive and demanding consumer and still-high inflation."
Some specific negatives included gross margin declines, aggressive pricing vs. competition, and slowdown in business transformation.
"We are raising our 4Q12 EPS to $0.56 from $0.52 due to delay in the ERP rollout, but lowering our FY13 to $1.93 from $2.02. We may be too optimistic, however, about the gross margin drop and the cost of the BTP for next year."
For an analyst ratings summary and ratings history on Sysco click here. For more ratings news on Sysco click here.
Shares of Sysco closed at $28.29 yesterday.
Analyst, Meredith Adler, said, "On its 3Q12 EPS conference call, SYY once again provided a very cautious outlook for the industry and its own future results, as restaurants deal with a price sensitive and demanding consumer and still-high inflation."
Some specific negatives included gross margin declines, aggressive pricing vs. competition, and slowdown in business transformation.
"We are raising our 4Q12 EPS to $0.56 from $0.52 due to delay in the ERP rollout, but lowering our FY13 to $1.93 from $2.02. We may be too optimistic, however, about the gross margin drop and the cost of the BTP for next year."
For an analyst ratings summary and ratings history on Sysco click here. For more ratings news on Sysco click here.
Shares of Sysco closed at $28.29 yesterday.
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