Convergys Corporation (NYSE:CVG) – Investment analysts at Barrington Research decreased their FY2018 earnings per share estimates for shares of Convergys Corporation in a report issued on Monday. Barrington Research analyst V. Colicchio now forecasts that the business services provider will post earnings per share of $1.88 for the year, down from their previous estimate of $1.94. Barrington Research has a “Market Perform” rating on the stock.

Convergys Corporation (NYSE:CVG) last issued its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.02). The firm had revenue of $688.30 million during the quarter, compared to analysts’ expectations of $692.34 million. Convergys Corporation had a return on equity of 13.92% and a net margin of 4.54%. Convergys Corporation’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 earnings per share. WARNING: This story was published by American Banking News and is owned by of American Banking News. If you are reading this story on another publication, it was stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this story can be read at https://www.americanbankingnews.com/2017/11/15/barrington-research-comments-on-convergys-corporations-fy2018-earnings-cvg.html.

Several other equities research analysts have also recently weighed in on the company. Robert W. Baird reaffirmed a “hold” rating on shares of Convergys Corporation in a research note on Sunday, September 17th. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $26.00 price target on shares of Convergys Corporation in a research note on Monday, October 9th. BidaskClub raised Convergys Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Zacks Investment Research cut Convergys Corporation from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. Finally, Citigroup Inc. reduced their price target on Convergys Corporation from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, November 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. Convergys Corporation currently has a consensus rating of “Hold” and an average price target of $26.00.

Shares of Convergys Corporation (NYSE CVG) traded up $0.14 during mid-day trading on Wednesday, reaching $23.45. The company had a trading volume of 569,400 shares, compared to its average volume of 752,630. The stock has a market capitalization of $2,154.13, a PE ratio of 12.47, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11. Convergys Corporation has a 12 month low of $20.15 and a 12 month high of $26.66. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.60 and a current ratio of 2.60.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 22nd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Thursday, December 21st. Convergys Corporation’s dividend payout ratio (DPR) is 30.77%.

In other Convergys Corporation news, Director Jeffrey H. Fox sold 43,609 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $23.53, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.70% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in CVG. LS Investment Advisors LLC boosted its holdings in Convergys Corporation by 17.8% in the second quarter. LS Investment Advisors LLC now owns 7,453 shares of the business services provider’s stock worth $177,000 after acquiring an additional 1,125 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Convergys Corporation by 17.7% in the second quarter. Victory Capital Management Inc. now owns 7,498 shares of the business services provider’s stock worth $178,000 after acquiring an additional 1,125 shares in the last quarter. Riverhead Capital Management LLC boosted its holdings in Convergys Corporation by 71.0% in the second quarter. Riverhead Capital Management LLC now owns 7,525 shares of the business services provider’s stock worth $179,000 after acquiring an additional 3,125 shares in the last quarter. Flinton Capital Management LLC boosted its holdings in Convergys Corporation by 69.1% in the second quarter. Flinton Capital Management LLC now owns 8,428 shares of the business services provider’s stock worth $200,000 after acquiring an additional 3,444 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in Convergys Corporation in the third quarter worth $201,000. 94.06% of the stock is currently 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.

Earnings History and Estimates for Convergys Corporation (NYSE:CVG)

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