Wall Street brokerages expect Conduent (NYSE:CNDT) to report earnings per share of $0.23 for the current quarter, Zacks reports. Two analysts have provided estimates for Conduent’s earnings, with the lowest EPS estimate coming in at $0.23 and the highest estimate coming in at $0.24. Conduent reported earnings per share of $0.16 in the same quarter last year, which suggests a positive year-over-year growth rate of 43.8%. The firm is expected to issue its next quarterly earnings report on Wednesday, August 8th.
According to Zacks, analysts expect that Conduent will report full-year earnings of $1.04 per share for the current fiscal year, with EPS estimates ranging from $1.00 to $1.12. For the next year, analysts forecast that the business will post earnings of $1.19 per share, with EPS estimates ranging from $1.17 to $1.23. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Conduent.
Conduent (NYSE:CNDT) last announced its quarterly earnings results on Wednesday, May 9th. The company reported $0.22 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.22. Conduent had a net margin of 2.33% and a return on equity of 5.79%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the company posted $0.16 EPS. The company’s revenue was down 8.6% on a year-over-year basis.
Several equities analysts have issued reports on the stock. BMO Capital Markets upped their price target on shares of Conduent from $19.00 to $22.00 and gave the company a “market perform” rating in a research report on Friday, April 27th. Zacks Investment Research cut shares of Conduent from a “hold” rating to a “sell” rating in a research report on Tuesday, May 1st. Needham & Company LLC upgraded shares of Conduent from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Tuesday, March 6th. Cowen reiterated a “hold” rating on shares of Conduent in a research report on Tuesday, February 27th. Finally, Susquehanna Bancshares assumed coverage on shares of Conduent in a research report on Wednesday, March 7th. They set a “positive” rating and a $23.00 price objective for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. Conduent has a consensus rating of “Hold” and a consensus price target of $21.88.
Shares of NYSE CNDT opened at $19.08 on Friday. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.56. Conduent has a 52-week low of $18.97 and a 52-week high of $19.31. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 20.79 and a beta of -0.71.
A number of hedge funds and other institutional investors have recently modified their holdings of CNDT. W.G. Shaheen & Associates DBA Whitney & Co bought a new position in Conduent during the first quarter worth $121,000. Financial Consulate Inc. bought a new position in Conduent during the fourth quarter worth $181,000. State of Alaska Department of Revenue bought a new position in Conduent during the fourth quarter worth $215,000. Xact Kapitalforvaltning AB bought a new position in Conduent during the fourth quarter worth $265,000. Finally, First Allied Advisory Services Inc. boosted its stake in Conduent by 26.8% during the first quarter. First Allied Advisory Services Inc. now owns 14,475 shares of the company’s stock worth $270,000 after acquiring an additional 3,063 shares in the last quarter. 94.62% of the stock is currently owned by institutional investors and hedge funds.
Conduent Company Profile
Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and internationally. It operates in two segments, Commercial Industries and Public Sector. The Commercial Industries segment offers business process services and customized solutions to clients in various industries.
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