Wall Street brokerages forecast that Conduent Inc (NYSE:CNDT) will announce $1.26 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Conduent’s earnings, with the lowest sales estimate coming in at $1.26 billion and the highest estimate coming in at $1.27 billion. Conduent posted sales of $1.49 billion during the same quarter last year, which suggests a negative year over year growth rate of 15.4%. The firm is expected to report its next earnings results on Wednesday, February 20th.
On average, analysts expect that Conduent will report full-year sales of $5.37 billion for the current financial year, with estimates ranging from $5.37 billion to $5.38 billion. For the next financial year, analysts expect that the business will report sales of $4.66 billion, with estimates ranging from $4.54 billion to $4.74 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Conduent.
Conduent (NYSE:CNDT) last posted its earnings results on Wednesday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.34 billion. Conduent had a positive return on equity of 6.88% and a negative net margin of 1.21%. The business’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.22 EPS.
CNDT has been the subject of a number of research reports. BMO Capital Markets restated a “hold” rating on shares of Conduent in a research note on Wednesday, August 8th. Zacks Investment Research upgraded shares of Conduent from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Monday, August 13th. JPMorgan Chase & Co. upgraded shares of Conduent from a “neutral” rating to an “overweight” rating and set a $15.00 price objective for the company in a research note on Tuesday, August 14th. SunTrust Banks dropped their price objective on shares of Conduent to $18.00 and set a “buy” rating for the company in a research note on Thursday, November 8th. Finally, Morgan Stanley set a $16.00 price objective on shares of Conduent and gave the stock a “hold” rating in a research note on Thursday, November 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. Conduent presently has an average rating of “Hold” and an average target price of $21.57.
NYSE CNDT opened at $12.82 on Monday. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.45. The stock has a market cap of $2.71 billion, a PE ratio of 11.65 and a beta of 0.72. Conduent has a 52-week low of $12.18 and a 52-week high of $23.39.
Several institutional investors have recently made changes to their positions in CNDT. Iridian Asset Management LLC CT bought a new stake in shares of Conduent during the 3rd quarter valued at approximately $152,788,000. FMR LLC grew its holdings in shares of 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. First Trust Advisors LP grew its holdings in shares of Conduent by 303.2% during the 3rd quarter. First Trust Advisors LP now owns 1,615,391 shares of the company’s stock valued at $36,379,000 after purchasing an additional 1,214,772 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Conduent during the 3rd quarter valued at approximately $27,137,000. Finally, Point72 Asset Management L.P. grew its holdings in shares of Conduent by 204.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,618,547 shares of the company’s stock valued at $29,409,000 after purchasing an additional 1,087,447 shares during the last quarter. 87.78% of the stock is currently owned by institutional investors.
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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