Genpact Limited (G) Expected to Announce Quarterly Sales of $685.59 Million
Equities research analysts forecast that Genpact Limited (NYSE:G) will announce sales of $685.59 million for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Genpact Limited’s earnings. The highest sales estimate is $689.89 million and the lowest is $682.14 million. Genpact Limited reported sales of $648.78 million in the same quarter last year, which suggests a positive year over year growth rate of 5.7%. The business is scheduled to report its next quarterly earnings report on Wednesday, November 1st.
On average, analysts expect that Genpact Limited will report full year sales of $685.59 million for the current fiscal year, with estimates ranging from $2.67 billion to $2.70 billion. For the next financial year, analysts anticipate that the company will report sales of $2.87 billion per share, with estimates ranging from $2.81 billion to $2.92 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Genpact Limited.
Genpact Limited (NYSE:G) last posted its earnings results on Wednesday, August 2nd. The business services provider reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.10. Genpact Limited had a return on equity of 23.33% and a net margin of 10.22%. The company had revenue of $670.70 million during the quarter, compared to the consensus estimate of $642.68 million. During the same quarter last year, the firm earned $0.36 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis.
A number of analysts recently issued reports on G shares. Zacks Investment Research raised Genpact Limited from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Tuesday, August 8th. BidaskClub cut Genpact Limited from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 16th. Cowen and Company set a $33.00 price objective on Genpact Limited and gave the stock a “buy” rating in a report on Tuesday, August 15th. Deutsche Bank AG increased their price objective on Genpact Limited from $26.00 to $28.00 and gave the stock a “hold” rating in a report on Thursday, August 3rd. Finally, BMO Capital Markets increased their price objective on Genpact Limited from $26.00 to $30.00 and gave the stock a “market perform” rating in a report on Thursday, August 3rd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Genpact Limited currently has a consensus rating of “Buy” and an average target price of $31.14.
Shares of Genpact Limited (NYSE G) opened at 27.97 on Friday. The stock’s 50 day moving average price is $28.75 and its 200-day moving average price is $26.47. Genpact Limited has a 12-month low of $22.58 and a 12-month high of $31.93. The firm has a market cap of $5.40 billion, a P/E ratio of 21.13 and a beta of 0.50.
The firm also recently declared a special dividend, which will be paid on Thursday, September 21st. Shareholders of record on Friday, September 8th will be issued a $0.06 dividend. The ex-dividend date is Thursday, September 7th. This represents a dividend yield of 0.84%. Genpact Limited’s payout ratio is currently 18.05%.
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In other Genpact Limited news, insider Private Ltd Gic sold 1,501,126 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $28.72, for a total value of $43,112,338.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mohit Thukral sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $28.37, for a total value of $709,250.00. Following the completion of the sale, the insider now directly owns 85,305 shares in the company, valued at approximately $2,420,102.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,358,442 shares of company stock worth $297,475,276. Insiders own 1.55% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the business. Verition Fund Management LLC purchased a new stake in shares of Genpact Limited in the 2nd quarter valued at about $210,000. Susquehanna International Group LLP raised its holdings in shares of Genpact Limited by 105.6% in the 2nd quarter. Susquehanna International Group LLP now owns 108,817 shares of the business services provider’s stock valued at $3,028,000 after acquiring an additional 55,897 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Genpact Limited by 619.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,332 shares of the business services provider’s stock valued at $259,000 after acquiring an additional 8,034 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Genpact Limited by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,508 shares of the business services provider’s stock valued at $181,000 after acquiring an additional 455 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Genpact Limited in the 2nd quarter valued at about $335,000. 92.16% of the stock is currently owned by hedge funds and other institutional investors.
About Genpact Limited
Genpact Limited is engaged in providing digitally powered business process management and services. The Company is also engaged in designing, transforming and running a combination of processes, as well as providing solutions that combine elements of its service offerings. The Company’s segments include Business process outsourcing and Information technology services.
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