Convergys Corporation (NYSE:CVG) – Investment analysts at Barrington Research dropped their FY2017 earnings per share (EPS) estimates for Convergys Corporation in a research note issued to investors on Monday. Barrington Research analyst V. Colicchio now forecasts that the business services provider will post earnings per share of $1.86 for the year, down from their prior estimate of $1.88. Barrington Research currently has a “Market Perform” rating on the stock. Barrington Research also issued estimates for Convergys Corporation’s Q1 2018 earnings at $0.44 EPS, Q2 2018 earnings at $0.44 EPS, Q3 2018 earnings at $0.49 EPS, Q4 2018 earnings at $0.51 EPS and FY2019 earnings at $2.04 EPS.
Convergys Corporation (NYSE:CVG) last announced its quarterly earnings data on Tuesday, November 7th. The business services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The company had revenue of $688.30 million for the quarter, compared to analysts’ expectations of $692.34 million. Convergys Corporation had a net margin of 4.54% and a return on equity of 13.92%. Convergys Corporation’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period last year, the firm earned $0.46 earnings per share.
A number of other equities research analysts have also weighed in on CVG. Citigroup Inc. dropped their price objective on shares of Convergys Corporation from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, November 10th. Zacks Investment Research lowered shares of Convergys Corporation from a “hold” rating to a “sell” rating in a report on Friday, November 10th. BidaskClub lowered shares of Convergys Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Robert W. Baird reissued a “hold” rating and set a $28.00 price objective on shares of Convergys Corporation in a report on Tuesday, October 24th. Finally, SunTrust Banks, Inc. reissued a “hold” rating and set a $26.00 price objective on shares of Convergys Corporation in a report on Monday, October 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $26.00.
Shares of Convergys Corporation (CVG) opened at $23.45 on Tuesday. The firm has a market cap of $2,170.00, a price-to-earnings ratio of 12.48, a PEG ratio of 1.33 and a beta of 1.11. 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 Corporation has a 1-year low of $20.15 and a 1-year high of $26.66.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 22nd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.71%. The ex-dividend date is Thursday, December 21st. Convergys Corporation’s payout ratio is 30.77%.
In other Convergys Corporation news, Director Jeffrey H. Fox sold 43,609 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $23.53, for a total value of $1,026,119.77. Following the sale, the director now directly owns 338,804 shares of the company’s stock, valued at $7,972,058.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.70% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. LS Investment Advisors LLC raised its position in shares of Convergys Corporation by 17.8% in the second quarter. LS Investment Advisors LLC now owns 7,453 shares of the business services provider’s stock worth $177,000 after acquiring an additional 1,125 shares during the period. Victory Capital Management Inc. raised its position in shares of Convergys Corporation by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 7,498 shares of the business services provider’s stock worth $178,000 after purchasing an additional 1,125 shares during the last quarter. Riverhead Capital Management LLC raised its position in shares of Convergys Corporation by 71.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 7,525 shares of the business services provider’s stock worth $179,000 after purchasing an additional 3,125 shares during the last quarter. Flinton Capital Management LLC raised its position in shares of Convergys Corporation by 69.1% during the 2nd quarter. Flinton Capital Management LLC now owns 8,428 shares of the business services provider’s stock worth $200,000 after purchasing an additional 3,444 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of Convergys Corporation during the 3rd quarter worth about $201,000. Institutional investors and hedge funds own 94.06% of the company’s stock.
Convergys Corporation 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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