Conduent Inc (NYSE:CNDT) – Stock analysts at SunTrust Banks dropped their Q2 2018 earnings per share (EPS) estimates for Conduent in a research report issued on Monday, June 11th. SunTrust Banks analyst F. Atkins now anticipates that the company will post earnings per share of $0.23 for the quarter, down from their prior estimate of $0.24. SunTrust Banks has a “Buy” rating and a $22.00 price objective on the stock. SunTrust Banks also issued estimates for Conduent’s FY2019 earnings at $1.22 EPS.
A number of other brokerages have also issued reports on CNDT. BMO Capital Markets upped their price objective on shares of Conduent from $19.00 to $22.00 and gave the company a “market perform” rating in a report on Friday, April 27th. Zacks Investment Research lowered shares of Conduent from a “hold” rating to a “sell” rating in a report on Tuesday, May 1st. Susquehanna Bancshares started coverage on shares of Conduent in a report on Wednesday, March 7th. They issued a “positive” rating and a $23.00 price objective for the company. Morgan Stanley reissued an “equal weight” rating and issued a $20.00 price objective (up previously from $17.50) on shares of Conduent in a report on Thursday, February 22nd. Finally, Needham & Company LLC raised shares of Conduent from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Tuesday, March 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Conduent has an average rating of “Hold” and a consensus price target of $21.71.
Shares of CNDT opened at $20.85 on Thursday. 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 12-month low of $14.95 and a 12-month high of $21.06. The stock has a market capitalization of $4.37 billion, a P/E ratio of 24.53 and a beta of -0.74.
Conduent (NYSE:CNDT) last announced its quarterly earnings data on Wednesday, May 9th. The company reported $0.22 earnings per share (EPS) for the quarter, meeting the Zacks’ 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 analyst estimates of $1.42 billion. During the same quarter in the prior year, the firm posted $0.16 earnings per share. Conduent’s quarterly revenue was down 8.6% on a year-over-year basis.
Hedge funds and other institutional investors have recently bought and sold shares of the business. W.G. Shaheen & Associates DBA Whitney & Co acquired a new position in Conduent in the first quarter valued at about $121,000. Element Capital Management LLC acquired a new position in Conduent in the first quarter valued at about $212,000. Xact Kapitalforvaltning AB acquired a new position in Conduent in the fourth quarter valued at about $265,000. First Allied Advisory Services Inc. lifted its position in Conduent by 26.8% in the first quarter. First Allied Advisory Services Inc. now owns 14,475 shares of the company’s stock valued at $270,000 after buying an additional 3,063 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in Conduent by 61.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 16,147 shares of the company’s stock valued at $301,000 after buying an additional 6,139 shares during the last quarter. 92.46% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for Conduent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conduent and related companies with MarketBeat.com's FREE daily email newsletter.