Conduent (NYSE:CNDT) is scheduled to be releasing its earnings data after the market closes on Thursday, August 8th. Analysts expect Conduent to post earnings of $0.17 per share for the quarter.
Conduent (NYSE:CNDT) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.03). Conduent had a negative net margin of 13.14% and a positive return on equity of 6.61%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the company earned $0.22 EPS. The firm’s revenue for the quarter was down 18.5% on a year-over-year basis. On average, analysts expect Conduent to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.
CNDT opened at $8.35 on Wednesday. The firm’s 50-day moving average is $9.23. Conduent has a 52 week low of $7.14 and a 52 week high of $23.39. The company has a market cap of $1.90 billion, a P/E ratio of 9.32 and a beta of 1.69. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.28 and a quick ratio of 1.28.
In other Conduent news, major shareholder Carl C. Icahn bought 565,424 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were purchased at an average cost of $8.85 per share, for a total transaction of $5,004,002.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Carl C. Icahn bought 3,915,417 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were acquired at an average price of $8.35 per share, for a total transaction of $32,693,731.95. The disclosure for this purchase can be found here. Insiders have bought a total of 7,001,674 shares of company stock worth $59,245,442 over the last 90 days. Corporate insiders own 0.92% of the company’s stock.
Several research firms have commented on CNDT. Cross Research downgraded shares of Conduent from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Citigroup downgraded shares of Conduent from a “buy” rating to a “neutral” rating and set a $9.50 price objective for the company. in a report on Thursday, May 9th. Needham & Company LLC dropped their price objective on shares of Conduent from $25.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, May 9th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Conduent from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. downgraded shares of Conduent from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $17.00 to $12.00 in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $13.93.
Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and Europe. It operates through three segments: Commercial Industries, Government Services, and Transportation. The Commercial Industries segment offers business process services and customized solutions to clients in various industries.
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