Genpact Limited Stock Rating Upgraded by Zacks (G)
Genpact Limited (NYSE:G) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, Analyst Ratings Network.com reports. The firm currently has a $18.50 target price on the stock. Zacks‘s target price suggests a potential upside of 8.50% from the stock’s previous close.
Genpact Limited (NYSE:G) traded up 0.65% during mid-day trading on Tuesday, hitting $17.05. 782,929 shares of the company’s stock traded hands. Genpact Limited has a 1-year low of $13.68 and a 1-year high of $21.30. The stock’s 50-day moving average is $17.05 and its 200-day moving average is $17.41. The company has a market cap of $3.979 billion and a price-to-earnings ratio of 17.30. Genpact Limited also was the target of a significant decline in short interest in the month of April. As of April 30th, there was short interest totalling 2,467,333 shares, a decline of 54.4% from the April 15th total of 5,412,777 shares. Based on an average daily trading volume, of 545,132 shares, the short-interest ratio is presently 4.5 days. Currently, 1.4% of the shares of the stock are short sold.
Genpact Limited (NYSE:G) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.24 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.23 by $0.01. The company had revenue of $528.20 million for the quarter, compared to the consensus estimate of $527.07 million. During the same quarter last year, the company posted $0.23 earnings per share. Genpact Limited’s revenue was up 4.8% compared to the same quarter last year. On average, analysts predict that Genpact Limited will post $1.04 earnings per share for the current fiscal year.
A number of other firms have also recently commented on G. Analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Genpact Limited in a research note on Tuesday, May 6th. They now have a $18.00 price target on the stock. Separately, analysts at BMO Capital Markets upgraded shares of Genpact Limited from a “market perform” rating to an “outperform” rating in a research note on Monday, February 24th. They now have a $18.00 price target on the stock. Finally, analysts at Piper Jaffray initiated coverage on shares of Genpact Limited in a research note on Thursday, February 20th. They set an “overweight” rating and a $18.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $17.79.
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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