NEW YORK (TheStreet) --Shares of Sysco Corp. (SYY) are lower by 2.72% to $37.49 in early afternoon trading on Monday, after the company reported a decline in its fiscal 2015 first quarter net earnings of $279 million, or 47 cents per diluted share, compared to $285.5 million, or 48 cents per diluted share for the year ago quarter.
The food and related products distributor said adjusted net earnings were 52 cents per share for the most recent quarter.
Analysts polled by Thomson Reuters expected the company to post earnings per share of 51 cents for the quarter.
Sysco's sales for the fiscal 2015 first quarter grew by 6.2% to $12.4 billion, compared to $11.7 billion for the first quarter of fiscal 204.
Analysts were expecting revenue of $12.36 billion for the quarter.
Separately, TheStreet Ratings team rates SYSCO CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate SYSCO CORP (SYY) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
You can view the full analysis from the report here: SYY Ratings Report