Brokerages predict that Conduent Inc (NYSE:CNDT) will report earnings of $0.24 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Conduent’s earnings, with estimates ranging from $0.23 to $0.24. Conduent reported earnings per share of $0.16 during the same quarter last year, which indicates a positive year over year growth rate of 50%. The business is expected to report its next quarterly earnings results on Wednesday, August 8th.
On average, analysts expect that Conduent will report full year earnings of $1.02 per share for the current fiscal year, with EPS estimates ranging from $1.00 to $1.03. For the next fiscal year, analysts anticipate that the company will post earnings of $1.26 per share, with EPS estimates ranging from $1.18 to $1.35. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Conduent.
Conduent (NYSE:CNDT) last released its earnings results on Wednesday, May 9th. The company reported $0.22 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.22. Conduent had a net margin of 2.33% and a return on equity of 5.79%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the company earned $0.16 earnings per share. The firm’s revenue was down 8.6% on a year-over-year basis.
CNDT has been the subject of several research reports. Zacks Investment Research cut shares of Conduent from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 19th. BMO Capital Markets reiterated a “hold” rating on shares of Conduent in a research note on Wednesday, June 13th. Finally, Morgan Stanley increased their target price on shares of Conduent from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Conduent currently has a consensus rating of “Hold” and an average price target of $21.71.
Shares of Conduent traded up $0.22, hitting $18.59, during mid-day trading on Tuesday, according to MarketBeat.com. The company had a trading volume of 1,516,015 shares, compared to its average volume of 2,349,205. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.91 and a current ratio of 1.91. Conduent has a 12 month low of $14.95 and a 12 month high of $21.06. The stock has a market cap of $3.91 billion, a PE ratio of 20.43 and a beta of -0.68.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. increased its stake in shares of Conduent by 9.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 601,557 shares of the company’s stock worth $9,722,000 after purchasing an additional 53,295 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Conduent by 315.1% in the 4th quarter. Teacher Retirement System of Texas now owns 60,979 shares of the company’s stock valued at $985,000 after acquiring an additional 46,289 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Conduent by 3.2% in the 4th quarter. California Public Employees Retirement System now owns 382,820 shares of the company’s stock valued at $6,186,000 after acquiring an additional 12,000 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Conduent by 1.4% in the 4th quarter. BlackRock Inc. now owns 7,905,473 shares of the company’s stock valued at $127,753,000 after acquiring an additional 108,503 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of Conduent by 12.9% in the 4th quarter. UBS Asset Management Americas Inc. now owns 182,315 shares of the company’s stock valued at $2,946,000 after acquiring an additional 20,825 shares during the last quarter. Hedge funds and other institutional investors own 92.30% of the company’s stock.
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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