Analysts Expect Convergys Corporation (CVG) Will Post Earnings of $0.44 Per Share
Equities research analysts expect Convergys Corporation (NYSE:CVG) to report earnings per share of $0.44 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Convergys Corporation’s earnings. The highest EPS estimate is $0.45 and the lowest is $0.43. Convergys Corporation reported earnings of $0.46 per share during the same quarter last year, which indicates a negative year over year growth rate of 4.3%. The business is scheduled to issue its next earnings report on Tuesday, November 14th.
On average, analysts expect that Convergys Corporation will report full-year earnings of $1.88 per share for the current financial year, with EPS estimates ranging from $1.86 to $1.89. For the next year, analysts anticipate that the business will report earnings of $1.91 per share, with EPS estimates ranging from $1.82 to $1.98. Zacks’ EPS calculations are an average based on a survey of analysts that cover Convergys Corporation.
Convergys Corporation (NYSE:CVG) last posted its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.07. The business had revenue of $686.80 million during the quarter, compared to the consensus estimate of $687.91 million. Convergys Corporation had a net margin of 4.90% and a return on equity of 14.46%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 earnings per share.
A number of equities analysts have recently commented on CVG shares. Robert W. Baird reissued a “hold” rating on shares of Convergys Corporation in a research note on Sunday, September 17th. BidaskClub raised shares of Convergys Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Finally, SunTrust Banks, Inc. reissued a “hold” rating and issued a $26.00 target price on shares of Convergys Corporation in a research note on Monday. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Convergys Corporation currently has a consensus rating of “Hold” and a consensus target price of $26.00.
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Convergys Corporation (CVG) traded up 0.39% during trading on Tuesday, hitting $25.95. 382,854 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $24.58 and its 200 day moving average price is $23.62. Convergys Corporation has a 12-month low of $20.15 and a 12-month high of $30.34. The stock has a market cap of $2.42 billion, a P/E ratio of 18.33 and a beta of 1.05.
The company also recently declared a quarterly dividend, which was paid on Friday, October 6th. Investors of record on Friday, September 22nd were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Thursday, September 21st. Convergys Corporation’s payout ratio is 28.37%.
In related news, CFO Andre S. Valentine sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $23.52, for a total transaction of $235,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey H. Fox sold 43,609 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $23.53, for a total transaction of $1,026,119.77. Following the sale, the director now directly owns 338,804 shares of the company’s stock, valued at $7,972,058.12. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wayne Hummer Investments L.L.C. acquired a new stake in Convergys Corporation during the 2nd quarter valued at $206,000. AQR Capital Management LLC grew its holdings in Convergys Corporation by 20.5% during the 1st quarter. AQR Capital Management LLC now owns 2,968,936 shares of the business services provider’s stock valued at $62,793,000 after purchasing an additional 505,311 shares in the last quarter. State Street Corp grew its holdings in Convergys Corporation by 3.5% during the 1st quarter. State Street Corp now owns 3,181,333 shares of the business services provider’s stock valued at $67,284,000 after purchasing an additional 108,814 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Convergys Corporation by 4.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,056,927 shares of the business services provider’s stock valued at $64,654,000 after purchasing an additional 141,399 shares in the last quarter. Finally, Foundry Partners LLC grew its holdings in Convergys Corporation by 11.4% during the 2nd quarter. Foundry Partners LLC now owns 226,348 shares of the business services provider’s stock valued at $5,383,000 after purchasing an additional 23,197 shares in the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.
Convergys Corporation Company Profile
Convergys Corporation is engaged in customer experience outsourcing. The Company’s geographical segments include North America and Rest of World. The Company offers services across industries, including communications and media, technology, financial services, retail, government and healthcare. The Company helps businesses to create customer experiences across multiple interaction channels, such as voice, chat, e-mail and interactive voice response.
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