Genpact Downgraded to Sell at Goldman Sachs Group Inc. (G)
Genpact (NYSE:G) was downgraded by Goldman Sachs Group Inc. from a “neutral” rating to a “sell” rating in a research note issued on Thursday, TheFlyOnTheWall.com reports. They currently have a $15.00 target price on the stock, down from their previous target price of $18.00. Goldman Sachs Group Inc.’s price objective suggests a potential downside of 11.50% from the company’s current price.
Genpact (NYSE:G) traded down 2.87% during mid-day trading on Thursday, hitting $16.95. The stock had a trading volume of 2,767,832 shares. Genpact has a 52-week low of $16.00 and a 52-week high of $21.30. The stock’s 50-day moving average is $17.97 and its 200-day moving average is $19.15. The company has a market cap of $3.902 billion and a P/E ratio of 17.45.
Genpact (NYSE:G) last released its earnings data on Wednesday, November 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.07. The company had revenue of $534.90 million for the quarter, compared to the consensus estimate of $560.34 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, analysts predict that Genpact will post $1.13 earnings per share for the current fiscal year.
A number of other firms have also recently commented on G. Analysts at Morgan Stanley upgraded shares of Genpact to an “overweight” rating in a research note to investors on Wednesday, November 13th. Separately, analysts at BMO Capital Markets cut their price target on shares of Genpact from $21.00 to $19.00 in a research note to investors on Thursday, November 7th. They now have a “market perform” rating on the stock. Finally, analysts at Oppenheimer raised their price target on shares of Genpact from $21.00 to $23.00 in a research note to investors on Monday, November 4th. They now have an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $19.40.
Genpact Limited (NYSE:G) is engaged in business process management and information technology services, leveraging the power of processes, analytics and technology to help its clients drive intelligence across their enterprises.
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