Equities analysts expect Conduent Inc (NYSE:CNDT) to post $1.32 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Conduent’s earnings. The lowest sales estimate is $1.27 billion and the highest is $1.37 billion. Conduent reported sales of $1.49 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 11.4%. The company is expected to announce its next quarterly earnings report on Wednesday, February 20th.
On average, analysts expect that Conduent will report full-year sales of $5.42 billion for the current financial year, with estimates ranging from $5.37 billion to $5.52 billion. For the next year, analysts forecast that the company will post sales of $5.15 billion, with estimates ranging from $4.74 billion to $5.48 billion. Zacks’ sales averages are a mean 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, November 7th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.01). The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.34 billion. Conduent had a return on equity of 6.53% and a net margin of 2.63%. Conduent’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 earnings per share.
CNDT has been the topic of several analyst reports. BMO Capital Markets reaffirmed a “hold” rating on shares of Conduent in a research report on Wednesday, August 8th. Zacks Investment Research raised Conduent from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Monday, August 13th. JPMorgan Chase & Co. upgraded Conduent from a “neutral” rating to an “overweight” rating and set a $15.00 target price on the stock in a research report on Tuesday, August 14th. SunTrust Banks dropped their target price on Conduent to $18.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Morgan Stanley set a $16.00 target price on Conduent and gave the company a “hold” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Conduent currently has a consensus rating of “Hold” and an average price target of $21.57.
In other news, President David Amoriell sold 33,903 shares of the firm’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $21.30, for a total transaction of $722,133.90. Following the sale, the president now directly owns 83,888 shares in the company, valued at approximately $1,786,814.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.04% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of CNDT. Iridian Asset Management LLC CT acquired a new stake in Conduent in the 3rd quarter worth about $152,788,000. FMR LLC boosted its holdings in Conduent by 7.8% in the 3rd quarter. FMR LLC now owns 23,719,861 shares of the company’s stock worth $534,171,000 after buying an additional 1,711,445 shares during the last quarter. First Trust Advisors LP boosted its holdings in Conduent by 303.2% in the 3rd quarter. First Trust Advisors LP now owns 1,615,391 shares of the company’s stock worth $36,379,000 after buying an additional 1,214,772 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in Conduent in the 3rd quarter worth about $27,137,000. Finally, Point72 Asset Management L.P. boosted its holdings in Conduent by 204.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,618,547 shares of the company’s stock worth $29,409,000 after buying an additional 1,087,447 shares during the last quarter. Institutional investors own 91.37% of the company’s stock.
Shares of CNDT opened at $13.04 on Friday. The stock has a market cap of $4.06 billion, a price-to-earnings ratio of 15.34 and a beta of 0.88. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.03 and a current ratio of 2.03. Conduent has a fifty-two week low of $12.18 and a fifty-two week high of $23.39.
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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