Convergys Corp (CVG) Releases FY14 Earnings Guidance
Convergys Corp (NYSE:CVG) issued an update on its FY14 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $1.45-1.50 for the period, compared to the Thomson Reuters consensus estimate of $1.47, StockRatingsNetwork.com reports. The company issued revenue guidance of above $2.85 billion, compared to the consensus revenue estimate of $2.92 billion.
Convergys Corp (NYSE:CVG) traded up 1.62% on Monday, hitting $19.40. 417,385 shares of the company’s stock traded hands. Convergys Corp has a 52-week low of $17.16 and a 52-week high of $24.43. The stock’s 50-day moving average is $20.46 and its 200-day moving average is $21.01. The company has a market cap of $1.969 billion and a P/E ratio of 40.44.
Convergys Corp (NYSE:CVG) last released its earnings data on Monday, August 11th. The company reported $0.34 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.32 by $0.02. The company had revenue of $736.00 million for the quarter, compared to the consensus estimate of $732.69 million. During the same quarter last year, the company posted $0.25 earnings per share. Convergys Corp’s revenue was up 46.0% compared to the same quarter last year. Analysts expect that Convergys Corp will post $1.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 3rd. Investors of record on Friday, September 19th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.45%.
A number of research firms have recently commented on CVG. Analysts at Macquarie raised their price target on shares of Convergys Corp from $20.00 to $25.00 in a research note on Thursday, May 15th. Analysts at Citigroup Inc. reiterated a hold rating on shares of Convergys Corp in a research note on Wednesday, May 14th. They now have a $23.00 price target on the stock, up previously from $21.00. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $24.67.
Convergys Corporation (NYSE:CVG) is engaged in customer management.
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