Zacks: Analysts Anticipate Convergys Corp (CVG) Will Post Quarterly Sales of $695.78 Million

Brokerages expect Convergys Corp (NYSE:CVG) to post $695.78 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Convergys’ earnings. The highest sales estimate is $700.20 million and the lowest is $689.03 million. Convergys posted sales of $757.90 million in the same quarter last year, which suggests a negative year over year growth rate of 8.2%. The firm is scheduled to report its next earnings results on Wednesday, February 28th.

According to Zacks, analysts expect that Convergys will report full year sales of $695.78 million for the current year, with estimates ranging from $2.79 billion to $2.80 billion. For the next year, analysts anticipate that the business will report sales of $2.72 billion per share, with estimates ranging from $2.67 billion to $2.77 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Convergys.

Convergys (NYSE:CVG) last posted its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.02). Convergys had a return on equity of 13.92% and a net margin of 4.54%. The firm had revenue of $688.30 million for the quarter, compared to the consensus estimate of $692.34 million. During the same period last year, the company posted $0.46 earnings per share. The business’s revenue was down 7.1% compared to the same quarter last year.

Several analysts have issued reports on the stock. Citigroup dropped their price target on shares of Convergys from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, November 10th. Barrington Research assumed coverage on shares of Convergys in a research report on Tuesday, October 17th. They set a “market perform” rating on the stock. ValuEngine lowered shares of Convergys from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. SunTrust Banks reaffirmed a “hold” rating and set a $26.00 price target on shares of Convergys in a research report on Monday, October 9th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $28.00 price target on shares of Convergys in a research report on Tuesday, October 24th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Convergys currently has a consensus rating of “Hold” and a consensus price target of $26.00.

Shares of Convergys (NYSE CVG) opened at $23.00 on Monday. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.25. Convergys has a 1 year low of $20.15 and a 1 year high of $26.66. The stock has a market cap of $2,125.48, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 1.39 and a beta of 1.08.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Friday, December 22nd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Thursday, December 21st. Convergys’s payout ratio is presently 30.77%.

In other news, CEO Andrea J. Ayers sold 30,000 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $24.15, for a total value of $724,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey H. Fox sold 25,000 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $23.77, for a total transaction of $594,250.00. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of CVG. Wells Fargo & Company MN raised its position in shares of Convergys by 32.8% in the second quarter. Wells Fargo & Company MN now owns 325,661 shares of the business services provider’s stock valued at $7,745,000 after purchasing an additional 80,436 shares during the period. Riverhead Capital Management LLC raised its position in shares of Convergys by 71.0% in the second quarter. Riverhead Capital Management LLC now owns 7,525 shares of the business services provider’s stock valued at $179,000 after purchasing an additional 3,125 shares during the period. Teachers Advisors LLC raised its position in shares of Convergys by 12.4% in the second quarter. Teachers Advisors LLC now owns 184,131 shares of the business services provider’s stock valued at $4,379,000 after purchasing an additional 20,374 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of Convergys by 7.8% in the second quarter. TIAA CREF Investment Management LLC now owns 448,912 shares of the business services provider’s stock valued at $10,675,000 after purchasing an additional 32,614 shares during the period. Finally, Amalgamated Bank raised its position in shares of Convergys by 6.7% in the second quarter. Amalgamated Bank now owns 13,288 shares of the business services provider’s stock valued at $316,000 after purchasing an additional 835 shares during the period.

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About Convergys

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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