Analysts forecast that Conduent Inc (NYSE:CNDT) will report earnings per share (EPS) of $0.27 for the current quarter, Zacks reports. Two analysts have issued estimates for Conduent’s earnings, with estimates ranging from $0.26 to $0.31. Conduent reported earnings per share of $0.31 in the same quarter last year, which would suggest a negative year-over-year growth rate of 12.9%. The company is scheduled to issue its next earnings results on Wednesday, February 20th.
On average, analysts expect that Conduent will report full year earnings of $1.07 per share for the current year, with EPS estimates ranging from $1.05 to $1.10. For the next financial year, analysts forecast that the company will report earnings of $1.14 per share, with EPS estimates ranging from $1.09 to $1.23. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Conduent.
Conduent (NYSE:CNDT) last posted its quarterly earnings results on Wednesday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Conduent had a positive return on equity of 6.88% and a negative net margin of 1.21%. The company’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.22 earnings per share.
CNDT has been the subject of several analyst reports. BMO Capital Markets reissued a “hold” rating on shares of Conduent in a report on Wednesday, August 8th. Zacks Investment Research raised shares of Conduent from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a report on Monday, August 13th. JPMorgan Chase & Co. raised shares of Conduent from a “neutral” rating to an “overweight” rating and set a $15.00 price target for the company in a report on Tuesday, August 14th. SunTrust Banks cut their price target on shares of Conduent to $18.00 and set a “buy” rating for the company in a report on Thursday, November 8th. Finally, Morgan Stanley set a $16.00 price target on shares of Conduent and gave the stock a “hold” rating in a report on Thursday, November 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Conduent presently has a consensus rating of “Hold” and a consensus price target of $21.57.
Institutional investors and hedge funds have recently modified their holdings of the business. Point72 Hong Kong Ltd grew its position in Conduent by 170.1% during the second quarter. Point72 Hong Kong Ltd now owns 5,997 shares of the company’s stock worth $109,000 after buying an additional 3,777 shares during the period. Group One Trading L.P. grew its position in Conduent by 673.6% during the third quarter. Group One Trading L.P. now owns 6,046 shares of the company’s stock worth $136,000 after buying an additional 7,100 shares during the period. ClariVest Asset Management LLC acquired a new position in Conduent during the third quarter worth about $157,000. SG Americas Securities LLC acquired a new position in Conduent during the second quarter worth about $142,000. Finally, BNP Paribas Arbitrage SA grew its position in Conduent by 416.0% during the second quarter. BNP Paribas Arbitrage SA now owns 7,972 shares of the company’s stock worth $145,000 after buying an additional 6,427 shares during the period. Institutional investors own 87.78% of the company’s stock.
NYSE CNDT traded down $0.69 during trading hours on Friday, hitting $12.30. 2,611,369 shares of the stock were exchanged, compared to its average volume of 2,052,338. The stock has a market capitalization of $2.74 billion, a P/E ratio of 14.47 and a beta of 0.66. Conduent has a 12-month low of $12.16 and a 12-month high of $23.39. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.45.
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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