Zacks: Analysts Anticipate Convergys (CVG) to Announce $0.40 Earnings Per Share

Wall Street brokerages predict that Convergys (NYSE:CVG) will announce $0.40 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Convergys’ earnings, with estimates ranging from $0.37 to $0.41. Convergys posted earnings of $0.52 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 23.1%. The business is expected to announce its next quarterly earnings results on Monday, May 14th.

According to Zacks, analysts expect that Convergys will report full year earnings of $1.69 per share for the current year, with EPS estimates ranging from $1.68 to $1.69. For the next year, analysts expect that the firm will report earnings of $1.72 per share, with EPS estimates ranging from $1.62 to $1.79. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Convergys.

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Convergys (NYSE:CVG) last issued its earnings results on Wednesday, February 21st. The business services provider reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The firm had revenue of $689.40 million for the quarter, compared to analysts’ expectations of $695.78 million. Convergys had a net margin of 4.35% and a return on equity of 13.71%. The firm’s revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 earnings per share.

Several brokerages recently weighed in on CVG. ValuEngine cut shares of Convergys from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research upgraded shares of Convergys from a “sell” rating to a “hold” rating in a research note on Monday, January 15th. Finally, Barrington Research reiterated a “hold” rating on shares of Convergys in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $26.00.

NYSE:CVG traded down $0.15 during mid-day trading on Thursday, hitting $22.60. The stock had a trading volume of 570,846 shares, compared to its average volume of 659,818. The stock has a market cap of $2,070.57, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 1.49 and a beta of 0.98. Convergys has a twelve month low of $21.03 and a twelve month high of $26.66. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.24.

The business also recently declared a quarterly dividend, which was paid on Friday, April 6th. Shareholders of record on Friday, March 23rd were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, March 22nd. This represents a $0.40 annualized dividend and a yield of 1.77%. Convergys’s dividend payout ratio is currently 21.39%.

In other Convergys news, CEO Andrea J. Ayers sold 30,000 shares of the stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $23.25, for a total value of $697,500.00. Following the transaction, the chief executive officer now directly owns 396,239 shares in the company, valued at $9,212,556.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Macquarie Group Ltd. grew its position in shares of Convergys by 10.2% during the fourth quarter. Macquarie Group Ltd. now owns 2,029,993 shares of the business services provider’s stock worth $47,705,000 after acquiring an additional 188,225 shares during the last quarter. Royce & Associates LP grew its position in shares of Convergys by 28.2% during the fourth quarter. Royce & Associates LP now owns 970,643 shares of the business services provider’s stock worth $22,810,000 after acquiring an additional 213,608 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Convergys by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 968,730 shares of the business services provider’s stock worth $22,764,000 after acquiring an additional 51,234 shares during the last quarter. Boston Partners grew its position in shares of Convergys by 70.6% during the fourth quarter. Boston Partners now owns 912,525 shares of the business services provider’s stock worth $21,444,000 after acquiring an additional 377,481 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Convergys by 6.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 860,308 shares of the business services provider’s stock worth $20,218,000 after acquiring an additional 48,332 shares during the last quarter.

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Convergys Company Profile

Convergys Corporation provides customer management services to communications and media, technology, financial services, retail, healthcare, government, travel and hospitality, and other vertical markets worldwide. The company offers solutions across the customer lifecycle, including sales, customer service, technical support, customer retention, and collection, as well as security, compliance, and fraud solutions; and solutions in contact center technology comprising omni-channel interaction, cross-channel integration framework, real-time decisioning engine, robotic process automation, intelligent notification, campaign management, personalized care, personalized selling, agent productivity, and retention solutions.

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