Food distributor Sysco Corporation ( SYY ) on Monday posted fiscal fourth quarter earnings that met analyst expectations.
The Houston-based company reported fiscal fourth quarter net income of $336.31 million, or 57 cents per share, compared with $337.78 million or 57 cents per share, in the year-ago period.
Sales rose less than 1% from last year to $10.42 billion.
On average, Wall Street analysts expected a matching profit of 57 cents per share, on slightly lower revenue of $10.36 billion.
Sysco shares rose 24 cents, or +0.8%, in premarket trading Monday.
The Bottom Line
Shares of Sysco Corporation ( SYY ) have a 3.56% dividend yield, based on Friday's closing stock price of $29.25. The stock has technical support in the $27-$28 price area. If the shares can firm up, we see overhead resistance around the $31-$33 price levels.
Sysco Corporation ( SYY ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
