Convergys Corp (CVG) Expected to Post Earnings of $0.45 Per Share

Brokerages expect that Convergys Corp (NYSE:CVG) will announce earnings per share (EPS) of $0.45 for the current quarter, according to Zacks. Four analysts have made estimates for Convergys’ earnings, with estimates ranging from $0.44 to $0.46. Convergys reported earnings of $0.47 per share in the same quarter last year, which indicates a negative year over year growth rate of 4.3%. The firm is scheduled to report its next quarterly earnings report after the market closes on Wednesday, February 21st.

According to Zacks, analysts expect that Convergys will report full year earnings of $1.85 per share for the current year, with EPS estimates ranging from $1.84 to $1.86. For the next fiscal year, analysts expect that the company will post earnings of $1.84 per share, with EPS estimates ranging from $1.74 to $1.89. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Convergys.

A number of research analysts have recently commented on the company. ValuEngine cut Convergys from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded Convergys from a “sell” rating to a “hold” rating in a research note on Monday, January 15th. Citigroup dropped their price target on Convergys from $25.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, November 10th. Robert W. Baird reiterated a “hold” rating and issued a $28.00 price target on shares of Convergys in a research note on Tuesday, October 24th. Finally, Barrington Research began coverage on Convergys in a report on Tuesday, October 17th. They issued a “market perform” rating for the company. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $26.00.

In related news, Director Jeffrey H. Fox sold 25,000 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $23.77, for a total value of $594,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrea J. Ayers sold 30,000 shares of the stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $24.15, for a total value of $724,500.00. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Balter Liquid Alternatives LLC acquired a new stake in Convergys in the fourth quarter valued at $130,000. Teacher Retirement System of Texas acquired a new stake in Convergys in the third quarter valued at $201,000. Crossmark Global Holdings Inc. acquired a new stake in Convergys during the 3rd quarter worth about $222,000. Victory Capital Management Inc. grew its holdings in Convergys by 27.0% during the 3rd quarter. Victory Capital Management Inc. now owns 9,526 shares of the business services provider’s stock worth $247,000 after acquiring an additional 2,028 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in Convergys during the 4th quarter worth about $256,000.

Convergys (NYSE:CVG) opened at $21.52 on Tuesday. Convergys has a 12 month low of $20.15 and a 12 month high of $26.66. The company has a market capitalization of $1,991.48, a price-to-earnings ratio of 16.55, a PEG ratio of 1.30 and a beta of 1.02. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.25.

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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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