Analysts expect Conduent Inc (NYSE:CNDT) to report $1.32 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Conduent’s earnings, with the lowest sales estimate coming in at $1.27 billion and the highest estimate coming in at $1.37 billion. Conduent reported sales of $1.49 billion during the same quarter last year, which indicates a negative year over year growth rate of 11.4%. The firm is scheduled to announce its next earnings report on Wednesday, February 20th.
According to Zacks, analysts expect that Conduent will report full-year sales of $5.42 billion for the current fiscal year, with estimates ranging from $5.37 billion to $5.52 billion. For the next financial year, analysts anticipate that the firm will report sales of $5.15 billion, with estimates ranging from $4.74 billion to $5.48 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Conduent.
Conduent (NYSE:CNDT) last announced its earnings results on Wednesday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). Conduent had a return on equity of 6.53% and a net margin of 2.63%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the company posted $0.22 EPS. The firm’s revenue was down 11.9% on a year-over-year basis.
A number of research analysts recently weighed in on CNDT shares. JPMorgan Chase & Co. lowered Conduent to a “buy” rating and set a $24.00 price objective for the company. in a research report on Wednesday, August 15th. Zacks Investment Research raised Conduent from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Monday, August 13th. SunTrust Banks reduced their price objective on Conduent to $18.00 and set a “buy” rating for the company in a research report on Thursday. Morgan Stanley set a $16.00 price objective on Conduent and gave the company a “hold” rating in a research report on Thursday. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of Conduent in a research report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $21.57.
In related news, President David Amoriell sold 33,903 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $21.30, for a total transaction of $722,133.90. Following the completion of the transaction, the president now owns 83,888 shares of the company’s stock, valued at approximately $1,786,814.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.04% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC boosted its stake in Conduent by 7.8% during the 3rd quarter. FMR LLC now owns 23,719,861 shares of the company’s stock valued at $534,171,000 after purchasing an additional 1,711,445 shares during the last quarter. BlackRock Inc. boosted its stake in Conduent by 1.3% during the 3rd quarter. BlackRock Inc. now owns 8,173,854 shares of the company’s stock valued at $184,074,000 after purchasing an additional 104,690 shares during the last quarter. Iridian Asset Management LLC CT purchased a new stake in Conduent during the 3rd quarter valued at $152,788,000. Dimensional Fund Advisors LP boosted its stake in Conduent by 7.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,076,536 shares of the company’s stock valued at $92,238,000 after purchasing an additional 373,651 shares during the last quarter. Finally, Anchor Capital Advisors LLC boosted its stake in Conduent by 8.1% during the 3rd quarter. Anchor Capital Advisors LLC now owns 2,662,651 shares of the company’s stock valued at $59,963,000 after purchasing an additional 198,800 shares during the last quarter. Institutional investors and hedge funds own 91.37% of the company’s stock.
CNDT stock opened at $13.04 on Friday. Conduent has a twelve month low of $12.18 and a twelve month high of $23.39. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.03 and a quick ratio of 2.03. The company has a market cap of $4.06 billion, a P/E ratio of 15.34 and a beta of 0.88.
Conduent Company Profile
Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and internationally. It operates in two segments, Commercial Industries and Public Sector. The Commercial Industries segment offers business process services and customized solutions to clients in various industries.
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