Analysts Anticipate Convergys Corp (CVG) Will Announce Quarterly Sales of $687.04 Million

Analysts expect that Convergys Corp (NYSE:CVG) will announce $687.04 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Convergys Corp’s earnings, with estimates ranging from $686.42 million to $687.60 million. Convergys Corp reported sales of $692.30 million in the same quarter last year, which indicates a negative year-over-year growth rate of 0.8%. The business is expected to report its next quarterly earnings results on Monday, August 14th.

On average, analysts expect that Convergys Corp will report full-year sales of $687.04 million for the current financial year, with estimates ranging from $2.87 billion to $2.90 billion. For the next financial year, analysts expect that the company will post sales of $2.92 billion per share, with estimates ranging from $2.86 billion to $2.95 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Convergys Corp.

Convergys Corp (NYSE:CVG) last posted its quarterly earnings data on Monday, May 8th. The business services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. The company had revenue of $727.60 million for the quarter, compared to the consensus estimate of $719.96 million. Convergys Corp had a net margin of 5.21% and a return on equity of 11.47%. The firm’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 earnings per share.

A number of equities research analysts recently commented on CVG shares. TheStreet upgraded Convergys Corp from a “c+” rating to a “b-” rating in a research report on Tuesday, May 23rd. Sidoti reiterated a “buy” rating on shares of Convergys Corp in a research report on Monday, March 27th. ValuEngine lowered Convergys Corp from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded Convergys Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, April 25th. Finally, SunTrust Banks, Inc. lowered Convergys Corp from a “buy” rating to a “hold” rating in a research report on Wednesday, February 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $31.50.

In related news, insider Taylor C. Greenwald sold 6,412 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $24.24, for a total value of $155,426.88. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeffrey H. Fox sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $24.84, for a total value of $248,400.00. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Flinton Capital Management LLC raised its stake in Convergys Corp by 7.2% in the first quarter. Flinton Capital Management LLC now owns 4,984 shares of the business services provider’s stock valued at $106,000 after buying an additional 336 shares in the last quarter. Neuburgh Advisers LLC raised its stake in Convergys Corp by 7.2% in the first quarter. Neuburgh Advisers LLC now owns 6,052 shares of the business services provider’s stock valued at $128,000 after buying an additional 408 shares in the last quarter. Victory Capital Management Inc. raised its stake in Convergys Corp by 53.9% in the first quarter. Victory Capital Management Inc. now owns 6,373 shares of the business services provider’s stock valued at $135,000 after buying an additional 2,233 shares in the last quarter. Bartlett & Co. LLC raised its stake in Convergys Corp by 19.8% in the first quarter. Bartlett & Co. LLC now owns 6,612 shares of the business services provider’s stock valued at $140,000 after buying an additional 1,093 shares in the last quarter. Finally, Strategic Investment Management LLC bought a new stake in Convergys Corp during the fourth quarter valued at approximately $183,000. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Convergys Corp (CVG) opened at 24.28 on Friday. Convergys Corp has a 12-month low of $20.15 and a 12-month high of $30.92. The company has a 50 day moving average of $23.58 and a 200-day moving average of $23.64. The stock has a market cap of $2.29 billion, a P/E ratio of 18.04 and a beta of 0.93.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 7th. Investors of record on Friday, June 23rd will be given a $0.10 dividend. The ex-dividend date is Wednesday, June 21st. This represents a $0.40 dividend on an annualized basis and a yield of 1.65%. This is a positive change from Convergys Corp’s previous quarterly dividend of $0.09. Convergys Corp’s dividend payout ratio is currently 22.22%.

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Convergys Corp 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.

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