Wall Street brokerages expect Conduent Inc (NYSE:CNDT) to post $0.28 earnings per share for the current quarter, according to Zacks. Two analysts have issued estimates for Conduent’s earnings, with estimates ranging from $0.24 to $0.30. Conduent reported earnings per share of $0.22 in the same quarter last year, which suggests a positive year over year growth rate of 27.3%. The company is expected to announce its next earnings report on Wednesday, November 14th.
On average, analysts expect that Conduent will report full year earnings of $1.08 per share for the current financial year, with EPS estimates ranging from $1.00 to $1.17. For the next financial year, analysts expect that the company will post earnings of $1.28 per share, with EPS estimates ranging from $1.17 to $1.35. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover Conduent.
Conduent (NYSE:CNDT) last released its quarterly earnings results on Wednesday, August 8th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.07. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Conduent had a return on equity of 6.53% and a net margin of 2.63%. The firm’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 EPS.
A number of brokerages have recently commented on CNDT. BMO Capital Markets lifted their target price on Conduent from $22.00 to $23.00 and gave the stock a “market perform” rating in a report on Thursday. Zacks Investment Research upgraded Conduent from a “sell” rating to a “hold” rating in a report on Thursday, June 14th. Finally, Morgan Stanley lifted their target price on Conduent from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $22.50.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. First Allied Advisory Services Inc. boosted its holdings in Conduent by 26.8% during the 1st quarter. First Allied Advisory Services Inc. now owns 14,475 shares of the company’s stock valued at $270,000 after acquiring an additional 3,063 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Conduent by 19.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 19,289 shares of the company’s stock valued at $350,000 after acquiring an additional 3,142 shares during the period. US Bancorp DE boosted its holdings in Conduent by 67.1% during the 2nd quarter. US Bancorp DE now owns 8,381 shares of the company’s stock valued at $153,000 after acquiring an additional 3,366 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Conduent by 3.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 121,240 shares of the company’s stock valued at $2,260,000 after acquiring an additional 3,710 shares during the period. Finally, First Republic Investment Management Inc. boosted its holdings in Conduent by 14.8% during the 1st quarter. First Republic Investment Management Inc. now owns 37,168 shares of the company’s stock valued at $693,000 after acquiring an additional 4,804 shares during the period. Institutional investors own 92.61% of the company’s stock.
Shares of Conduent stock traded up $0.09 on Tuesday, reaching $20.03. The company had a trading volume of 1,741,548 shares, compared to its average volume of 1,723,058. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of 19.17 and a beta of -0.70. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.91 and a current ratio of 2.03. Conduent has a 1 year low of $14.95 and a 1 year high of $21.06.
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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