Longs Suggested on SYSCO Corporation on Positive Earnings Report Prospects

SYSCO Corporation is due to report earnings on August 15th  before the open after positive results for investors since the beginning of 2016. Year to date, the stock has jumped 30.00% and investors are hopeful that the uptrend can extend into the second half. Analysts forecast earnings per share of $0.60 on $337.75 million profit. Sysco’s most recent EPS was $0.46 for the period ending on March 31.

Economists have a consensus rating of 2.41 points on the stock in terms of Buy/Sell recommendations, based on a scale where 1 represents a Strong Buy and 5 a Strong Sell recommendation. The stock closed up at $52.89 on Friday, above both the 50-day moving average of $51.39 and a 200-day moving average of $47.62.

Trade suggestion

Buy Stop at 52.90, Take profit at 53.50, Stop loss at 52.50

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