Amdocs’s Neutral Rating Reaffirmed at Zacks (DOX)
Amdocs (NYSE:DOX)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued on Thursday, Stock Ratings News reports. They currently have a $46.00 price objective on the stock. Zacks‘ price objective indicates a potential upside of 4.93% from the stock’s previous close.
Zacks‘ analyst wrote, ” We reiterate our long-term Neutral recommendation on Amdocs following its first-quarter fiscal 2014 results reported by the company. Amdocs’ business opportunity in the U.S. is more visible after stabilization of businesses with its major customer AT&T and renewal of long-term contracts with several leading telecom and cable TV operators. The company has also won significant managed service contracts in Europe despite economic volatility in the region. We believe that the long-term fundamentals of the company are intriguing due to the transition of the telecom industry to converged IP solutions. However, high customer concentration level coupled with continuous consolidation trend in the U.S. telecom industry may act as headwinds going forward. Meanwhile, the stock price of Amdocs is currently trading at the 52-week high range.”
DOX has been the subject of a number of other recent research reports. Analysts at Jefferies Group raised their price target on shares of Amdocs from $40.00 to $43.00 in a research note on Monday, February 3rd. They now have a “hold” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Amdocs from $40.00 to $44.00 in a research note on Friday, January 31st. They now have an “outperform” rating on the stock. Finally, analysts at Oppenheimer upgraded shares of Amdocs from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. They now have a $47.00 price target on the stock. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $43.75.
Shares of Amdocs (NYSE:DOX) traded up 0.52% during mid-day trading on Thursday, hitting $44.07. The stock had a trading volume of 227,404 shares. Amdocs has a one year low of $34.07 and a one year high of $44.62. The stock has a 50-day moving average of $42.44 and a 200-day moving average of $39.56. The company has a market cap of $7.034 billion and a P/E ratio of 17.19.
Amdocs (NYSE:DOX) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.01. The company had revenue of $864.00 million for the quarter, compared to the consensus estimate of $860.36 million. During the same quarter in the previous year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. Analysts expect that Amdocs will post $3.16 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, April 17th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Thursday, March 27th. This is a positive change from Amdocs’s previous quarterly dividend of $0.13.
Amdocs Limited is a provider of software and services for communications, media and entertainment industry service providers.
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