Amdocs Limited Earns “Neutral” Rating from Zacks (DOX)
Amdocs Limited (NYSE:DOX)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Tuesday. They currently have a $48.00 target price on the stock. Zacks‘s target price would suggest a potential upside of 4.30% from the company’s current price.
Zacks’ analyst wrote, “Amdocs reported third-quarter 2014 results wherein the bottom line surpassed the Zacks Consensus Estimate while the top line was in line with the same. Amdocs’ opportunities in the U.S. are more visible after business stabilization 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 the economically volatile Europe. We believe that the long-term fundamentals of the company are intriguing owing to the gradual adoption of converged IP solutions by the telecom industry. However, high customer concentration coupled with the continuous consolidation trend in the U.S. telecom industry may act as headwinds going forward. Meanwhile, the stock is trading at a 52-week high price range. We, thus, maintain our long-term Neutral recommendation on Amdocs.”
A number of other firms have also recently commented on DOX. Analysts at RBC Capital raised their price target on shares of Amdocs Limited from $48.00 to $52.00 in a research note on Wednesday, July 30th. They now have an “outperform” rating on the stock. Analysts at Wells Fargo & Co. downgraded shares of Amdocs Limited from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 18th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $44.00.
Shares of Amdocs Limited (NYSE:DOX) traded up 0.39% on Tuesday, hitting $46.20. 214,491 shares of the company’s stock traded hands. Amdocs Limited has a one year low of $36.39 and a one year high of $48.99. The stock’s 50-day moving average is $46.49 and its 200-day moving average is $46.3. The company has a market cap of $7.325 billion and a price-to-earnings ratio of 18.13.
Amdocs Limited (NYSE:DOX) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.02. The company had revenue of $902.50 million for the quarter, compared to the consensus estimate of $900.71 million. During the same quarter in the previous year, the company posted $0.83 earnings per share. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. Analysts expect that Amdocs Limited will post $3.17 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 17th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.35%.
Amdocs Limited is a provider of software and services for communications, media and entertainment industry service providers.
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