Convergys Corp’s “Hold” Rating Reaffirmed at Citigroup Inc. (CVG)
Convergys Corp (NYSE:CVG)‘s stock had its “hold” rating reiterated by equities research analysts at Citigroup Inc. in a research note issued to investors on Wednesday, Analyst Ratings News reports. They currently have a $23.00 price objective on the stock, up from their previous price objective of $21.00. Citigroup Inc.’s price objective indicates a potential upside of 1.77% from the company’s current price.
CVG has been the subject of a number of other recent research reports. Analysts at Sidoti initiated coverage on shares of Convergys Corp in a research note on Wednesday, April 9th. They set a “buy” rating on the stock. Separately, analysts at Zacks upgraded shares of Convergys Corp from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 8th. They now have a $24.00 price target on the stock. Finally, analysts at SunTrust initiated coverage on shares of Convergys Corp in a research note on Monday, March 24th. They set a “buy” rating and a $26.00 price target on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $22.75.
Convergys Corp (NYSE:CVG) traded down 2.21% during mid-day trading on Wednesday, hitting $22.10. The stock had a trading volume of 255,141 shares. Convergys Corp has a one year low of $17.16 and a one year high of $24.43. The stock’s 50-day moving average is $21.70 and its 200-day moving average is $20.80. The company has a market cap of $2.227 billion and a P/E ratio of 40.21.
Convergys Corp (NYSE:CVG) last issued its quarterly earnings data on Monday, May 12th. The company reported $0.32 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.28 by $0.04. The company had revenue of $606.00 million for the quarter, compared to the consensus estimate of $589.31 million. During the same quarter last year, the company posted $0.22 earnings per share. Convergys Corp’s revenue was up 22.6% compared to the same quarter last year. On average, analysts predict that Convergys Corp will post $1.44 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, July 3rd. Investors of record on Thursday, June 19th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Tuesday, June 17th. This is an increase from Convergys Corp’s previous quarterly dividend of $0.06.
Convergys Corporation (NYSE:CVG) is engaged in customer management.
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