Genpact (NYSE:G) Issues FY24 Earnings Guidance

Genpact (NYSE:G) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.01-3.04 for the period, compared to the consensus estimate of $3.01. The company issued revenue guidance of $4.59-4.63 billion, compared to the consensus revenue estimate of $4.59 billion.

Genpact Stock Performance

G stock traded down $0.33 during midday trading on Thursday, reaching $32.05. The stock had a trading volume of 1,988,364 shares, compared to its average volume of 1,539,963. The firm has a fifty day simple moving average of $32.38 and a two-hundred day simple moving average of $33.85. The stock has a market cap of $5.78 billion, a PE ratio of 9.44, a P/E/G ratio of 1.47 and a beta of 1.07. Genpact has a 52-week low of $29.41 and a 52-week high of $39.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.44 and a current ratio of 1.44.

Genpact (NYSE:G) last announced its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.12 billion. Genpact had a net margin of 14.10% and a return on equity of 23.19%. As a group, equities research analysts anticipate that Genpact will post 2.7 EPS for the current year.

Genpact Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Monday, June 10th will be paid a $0.153 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.61 dividend on an annualized basis and a yield of 1.91%. Genpact’s dividend payout ratio is currently 17.78%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on G shares. JPMorgan Chase & Co. raised their price target on shares of Genpact from $42.00 to $43.00 and gave the company an underweight rating in a research note on Friday, February 9th. StockNews.com cut shares of Genpact from a strong-buy rating to a buy rating in a research note on Friday, April 5th. Mizuho initiated coverage on shares of Genpact in a research report on Tuesday, January 30th. They issued a neutral rating and a $40.00 target price for the company. Needham & Company LLC reissued a buy rating and issued a $40.00 target price on shares of Genpact in a research note on Friday, February 9th. Finally, Citigroup dropped their price target on Genpact from $36.00 to $33.00 and set a neutral rating for the company in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Genpact currently has a consensus rating of Hold and a consensus price target of $39.78.

About Genpact

Genpact Limited provides business process outsourcing and information technology services in India, rest of Asia, North and Latin America, and Europe. It operates through three segments: Financial services; Consumer and Healthcare; and High Tech and Manufacturing. The Financial Services segment offers retail customer onboarding, customer service, collections, card servicing operations, loan and payment operations, commercial loan, equipment and auto loan, mortgage origination, compliance services, reporting and monitoring, and wealth management operations support; financial crime and risk management services; and underwriting support, new business processing, policy administration, claims management, catastrophe modeling and actuarial services, as well as property and casualty claims.