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In the Premarket trading session on Monday, Sysco Corp’s stock was trading at 80.91-lower by 1.50% as compared to its previous close.
The foodservice company reported its fiscal second-quarter earnings before the market open on Monday. Sysco generated an adjusted EPS (excluding non-recurring items) of 85 cents for the second quarter. The EPS was above the market expectation of 83 cents. The food distributor has topped the median forecast for earnings per share four times over the last four quarters.
The company’s revenue rose 1.8% to $15.03 billion in the second quarter. The revenue was, however, below the consensus estimates of 15.08 billion. Sysco reported lower-than-expected Q2 revenue, as its U.S. foodservice sales rose 3.2% while international food service sales were flat at $2.9 billion. The food service company has not been able to beat the market expectation for revenue over the last four quarters. Stocks of Sysco have risen 1.1% over the past three months.
On the technical front, the current price is below the MA5 and the MA20. The current price is below the lower band of the Bollinger Bands and is heading downwards. The stock is expected to trade lower today.
TRADE SUGGESTION- LIMIT SELL AT 81.10 TAKE PROFIT AT 80.35 STOP LOSS AT 81.45