Wall Street analysts expect Conduent Inc (NYSE:CNDT) to report sales of $1.49 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Conduent’s earnings. The highest sales estimate is $1.51 billion and the lowest is $1.47 billion. Conduent reported sales of $1.51 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 1.3%. The firm is expected to report its next earnings results before the market opens on Wednesday, February 21st.
On average, analysts expect that Conduent will report full year sales of $1.49 billion for the current fiscal year, with estimates ranging from $6.00 billion to $6.04 billion. For the next year, analysts anticipate that the firm will report sales of $5.93 billion per share, with estimates ranging from $5.80 billion to $6.04 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Conduent.
Conduent (NYSE:CNDT) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. Conduent had a positive return on equity of 5.45% and a negative net margin of 16.18%. The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the firm earned $0.29 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis.
CNDT has been the subject of a number of recent research reports. Cross Research raised Conduent from a “hold” rating to a “buy” rating in a research report on Tuesday, November 7th. Zacks Investment Research raised Conduent from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Monday, January 1st. BidaskClub raised Conduent from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 9th. BMO Capital Markets cut their target price on Conduent from $18.00 to $17.00 and set a “market perform” rating for the company in a research note on Thursday, November 9th. Finally, SunTrust Banks reissued a “buy” rating and set a $20.00 target price on shares of Conduent in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $19.60.
Conduent (NYSE:CNDT) traded up $1.87 during trading on Friday, reaching $17.86. The company’s stock had a trading volume of 7,256,380 shares, compared to its average volume of 2,759,917. Conduent has a 52 week low of $14.95 and a 52 week high of $18.15. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.60. The firm has a market cap of $3,370.24 and a PE ratio of -3.30.
Several hedge funds have recently modified their holdings of CNDT. Investec Asset Management LTD purchased a new position in shares of Conduent during the 4th quarter worth approximately $50,741,000. Two Sigma Advisers LP raised its stake in shares of Conduent by 191.6% during the 4th quarter. Two Sigma Advisers LP now owns 2,667,300 shares of the company’s stock worth $43,104,000 after buying an additional 1,752,570 shares in the last quarter. Governors Lane LP raised its stake in shares of Conduent by 19.5% during the 4th quarter. Governors Lane LP now owns 6,285,294 shares of the company’s stock worth $101,570,000 after buying an additional 1,023,871 shares in the last quarter. Altrinsic Global Advisors LLC raised its stake in shares of Conduent by 68.8% during the 4th quarter. Altrinsic Global Advisors LLC now owns 2,472,258 shares of the company’s stock worth $39,951,000 after buying an additional 1,007,775 shares in the last quarter. Finally, St. James Investment Company LLC raised its stake in shares of Conduent by 91.8% during the 4th quarter. St. James Investment Company LLC now owns 1,791,108 shares of the company’s stock worth $28,944,000 after buying an additional 857,258 shares in the last quarter. 97.94% of the stock is owned by institutional investors and hedge funds.
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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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