Analysts expect Conduent Inc. (NYSE:CNDT) to announce earnings per share (EPS) of $0.26 for the current quarter, Zacks reports. Two analysts have issued estimates for Conduent’s earnings, with the lowest EPS estimate coming in at $0.24 and the highest estimate coming in at $0.27. Conduent reported earnings of $0.29 per share during the same quarter last year, which suggests a negative year over year growth rate of 10.3%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, February 28th.
On average, analysts expect that Conduent will report full-year earnings of $0.81 per share for the current financial year, with EPS estimates ranging from $0.78 to $0.83. For the next fiscal year, analysts anticipate that the business will post earnings of $1.01 per share, with EPS estimates ranging from $0.95 to $1.08. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Conduent.
Conduent (NYSE:CNDT) last posted its earnings results on Wednesday, November 8th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.50 billion. Conduent had a positive return on equity of 5.45% and a negative net margin of 16.18%. Conduent’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share.
CNDT has been the topic of several analyst reports. Cross Research raised Conduent from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. BidaskClub lowered Conduent from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 18th. Needham & Company LLC initiated coverage on Conduent in a report on Wednesday, September 13th. They set a “hold” rating on the stock. Cowen and Company reaffirmed a “hold” rating and set a $18.00 target price on shares of Conduent in a report on Friday, July 28th. Finally, Zacks Investment Research raised Conduent from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $18.43.
A number of hedge funds have recently modified their holdings of the business. Yellowstone Partners LLC purchased a new position in Conduent during the third quarter worth approximately $228,000. Neuberger Berman Group LLC boosted its position in Conduent by 2.0% during the third quarter. Neuberger Berman Group LLC now owns 1,782,785 shares of the company’s stock worth $27,936,000 after purchasing an additional 34,394 shares in the last quarter. California Public Employees Retirement System boosted its position in Conduent by 1.5% during the third quarter. California Public Employees Retirement System now owns 370,820 shares of the company’s stock worth $5,811,000 after purchasing an additional 5,600 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in Conduent by 3,640.6% during the third quarter. Cubist Systematic Strategies LLC now owns 104,288 shares of the company’s stock worth $1,634,000 after purchasing an additional 101,500 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in Conduent by 18.5% during the third quarter. Point72 Asset Management L.P. now owns 2,003,800 shares of the company’s stock worth $31,400,000 after purchasing an additional 313,500 shares in the last quarter. Institutional investors own 84.08% of the company’s stock.
Shares of Conduent (CNDT) opened at $15.40 on Wednesday. The company has a market capitalization of $3,252.43 and a PE ratio of 18.63. Conduent has a 1-year low of $13.10 and a 1-year high of $18.15. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.60.
Conduent Company Profile
Conduent Incorporated is a provider of business process services, including transaction-intensive processing, analytics and automation services. The Company’s segments include Commercial Industries, Healthcare and Public Sector. The Commercial Industries segment provides business process services and customized solutions to clients in a range of industries (other than healthcare).
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