Wall Street analysts predict that Conduent Inc (NYSE:CNDT) will report earnings per share of $0.26 for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Conduent’s earnings, with the lowest EPS estimate coming in at $0.24 and the highest estimate coming in at $0.27. Conduent posted earnings per share of $0.29 in the same quarter last year, which would suggest a negative year-over-year growth rate of 10.3%. The firm is scheduled to report its next earnings report before the market opens on Wednesday, February 21st.
According to Zacks, analysts expect that Conduent will report full year earnings of $0.81 per share for the current financial year, with EPS estimates ranging from $0.78 to $0.83. For the next financial year, analysts expect that the company will post earnings of $1.01 per share, with EPS estimates ranging from $0.95 to $1.08. Zacks’ EPS calculations are an average based on a survey of research analysts that follow Conduent.
CNDT has been the subject of several research analyst reports. Zacks Investment Research upgraded Conduent from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Monday, January 1st. BidaskClub upgraded Conduent from a “strong sell” rating to a “sell” rating in a report on Thursday, November 9th. SunTrust Banks reiterated a “buy” rating and issued a $20.00 price objective on shares of Conduent in a report on Friday, November 10th. Cross Research upgraded Conduent from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. Finally, BMO Capital Markets dropped their price objective on Conduent from $18.00 to $17.00 and set a “market perform” rating for the company in a report on Thursday, November 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $19.60.
Shares of Conduent (CNDT) opened at $16.02 on Friday. Conduent has a fifty-two week low of $14.86 and a fifty-two week high of $18.15. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.74 and a quick ratio of 1.74. The firm has a market capitalization of $3,370.24 and a P/E ratio of -3.30.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rice Hall James & Associates LLC purchased a new stake in Conduent in the 4th quarter worth approximately $12,636,000. Boyar Asset Management Inc. purchased a new position in shares of Conduent in the 3rd quarter valued at approximately $1,898,000. Kirr Marbach & Co. LLC IN lifted its stake in shares of Conduent by 26.2% in the 3rd quarter. Kirr Marbach & Co. LLC IN now owns 706,337 shares of the company’s stock valued at $11,068,000 after purchasing an additional 146,588 shares during the period. Corbyn Investment Management Inc. MD lifted its stake in shares of Conduent by 77.8% in the 4th quarter. Corbyn Investment Management Inc. MD now owns 793,985 shares of the company’s stock valued at $12,831,000 after purchasing an additional 347,373 shares during the period. Finally, Dynamic Technology Lab Private Ltd lifted its stake in shares of Conduent by 448.0% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 119,557 shares of the company’s stock valued at $1,874,000 after purchasing an additional 97,741 shares during the period. Institutional investors and hedge funds own 97.94% of the company’s stock.
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Conduent Incorporated is a provider of business process services, including transaction-intensive processing, analytics and automation services. The Company’s segments include Commercial Industries, Healthcare and Public Sector. The Commercial Industries segment provides business process services and customized solutions to clients in a range of industries (other than healthcare).
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