Zacks: Brokerages Expect Amdocs Limited (NASDAQ:DOX) Will Announce Quarterly Sales of $966.78 Million
Wall Street analysts expect Amdocs Limited (NASDAQ:DOX) to announce sales of $966.78 million for the current quarter, Zacks reports. Five analysts have issued estimates for Amdocs Limited’s earnings, with the highest sales estimate coming in at $970.00 million and the lowest estimate coming in at $964.85 million. Amdocs Limited reported sales of $930.13 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.9%. The company is expected to announce its next earnings results after the market closes on Wednesday, August 2nd.
According to Zacks, analysts expect that Amdocs Limited will report full-year sales of $966.78 million for the current financial year, with estimates ranging from $3.86 billion to $3.87 billion. For the next financial year, analysts expect that the business will report sales of $4.01 billion per share, with estimates ranging from $3.98 billion to $4.03 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Amdocs Limited.
Amdocs Limited (NASDAQ:DOX) last announced its quarterly earnings data on Tuesday, May 9th. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. The firm had revenue of $966 million during the quarter, compared to the consensus estimate of $960.58 million. Amdocs Limited had a return on equity of 14.46% and a net margin of 10.84%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 EPS.
Several analysts have issued reports on DOX shares. Zacks Investment Research raised Amdocs Limited from a “sell” rating to a “hold” rating in a report on Monday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Amdocs Limited in a research note on Wednesday, June 28th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $59.00 price objective on shares of Amdocs Limited in a research note on Friday, June 16th. BidaskClub lowered Amdocs Limited from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. Finally, Robert W. Baird upped their price objective on Amdocs Limited from $62.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $66.50.
Large investors have recently modified their holdings of the stock. KCG Holdings Inc. increased its stake in shares of Amdocs Limited by 118.7% in the first quarter. KCG Holdings Inc. now owns 15,275 shares of the technology company’s stock valued at $932,000 after buying an additional 8,292 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Amdocs Limited during the second quarter valued at $851,000. Legal & General Group Plc increased its stake in shares of Amdocs Limited by 14.2% in the first quarter. Legal & General Group Plc now owns 635,545 shares of the technology company’s stock valued at $38,763,000 after buying an additional 78,796 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Amdocs Limited by 12.6% in the first quarter. Bank of America Corp DE now owns 1,318,784 shares of the technology company’s stock valued at $80,433,000 after buying an additional 147,542 shares during the last quarter. Finally, New York State Teachers Retirement System increased its stake in shares of Amdocs Limited by 1.5% in the fourth quarter. New York State Teachers Retirement System now owns 13,200 shares of the technology company’s stock valued at $769,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.
Shares of Amdocs Limited (NASDAQ DOX) traded up 0.161% on Wednesday, reaching $65.235. The company’s stock had a trading volume of 89,618 shares. The company has a market cap of $9.55 billion, a price-to-earnings ratio of 23.644 and a beta of 0.54. The stock has a 50-day moving average of $64.88 and a 200 day moving average of $61.89. Amdocs Limited has a 52-week low of $54.91 and a 52-week high of $66.48.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were given a dividend of $0.22 per share. The ex-dividend date was Wednesday, June 28th. This represents a $0.88 dividend on an annualized basis and a yield of 1.35%. Amdocs Limited’s dividend payout ratio (DPR) is presently 31.88%.
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About Amdocs Limited
Amdocs Limited is a provider of software and services for communications, entertainment and media industry service providers. The Company develops, implements and manages software and services associated with business support systems (BSS), operational support systems (OSS) and network operations to enable service providers to introduce new products and services, process orders, monetize data, support new business models and enhance their understanding of their customers.
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