Analysts Expect Convergys Corp (CVG) to Post $0.45 EPS

Wall Street brokerages forecast that Convergys Corp (NYSE:CVG) will announce earnings per share (EPS) of $0.45 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Convergys’ earnings. The lowest EPS estimate is $0.44 and the highest is $0.46. Convergys posted earnings of $0.47 per share during the same quarter last year, which would indicate a negative year over year growth rate of 4.3%. The business is expected to report its next earnings results on Wednesday, February 28th.

According to Zacks, analysts expect that Convergys will report full-year earnings of $1.85 per share for the current financial year, with EPS estimates ranging from $1.84 to $1.86. For the next financial year, analysts anticipate that the firm will report earnings of $1.84 per share, with EPS estimates ranging from $1.74 to $1.89. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow Convergys.

Convergys (NYSE:CVG) last issued its earnings results on Tuesday, November 7th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.02). Convergys had a return on equity of 13.92% and a net margin of 4.54%. The business had revenue of $688.30 million during the quarter, compared to the consensus estimate of $692.34 million. During the same period in the prior year, the business earned $0.46 EPS. The business’s revenue was down 7.1% on a year-over-year basis.

A number of equities analysts have issued reports on the stock. ValuEngine cut shares of Convergys from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Citigroup cut their price target on Convergys from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, November 10th. Barrington Research assumed coverage on Convergys in a report on Tuesday, October 17th. They set a “market perform” rating on the stock. SunTrust Banks reaffirmed a “hold” rating and set a $26.00 price target on shares of Convergys in a report on Monday, October 9th. Finally, Robert W. Baird reaffirmed a “hold” rating on shares of Convergys in a report on Sunday, September 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $26.00.

Shares of Convergys (NYSE CVG) traded down $0.45 during midday trading on Wednesday, reaching $22.99. 514,300 shares of the company’s stock were exchanged, compared to its average volume of 710,517. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.25. Convergys has a 1 year low of $20.15 and a 1 year high of $26.66. The company has a market capitalization of $2,190.00, a PE ratio of 17.68, a P/E/G ratio of 1.42 and a beta of 1.08.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Friday, December 22nd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, December 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.74%. Convergys’s dividend payout ratio (DPR) is presently 30.77%.

In related news, Director Jeffrey H. Fox sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $23.77, for a total transaction of $594,250.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Andrea J. Ayers sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $24.15, for a total transaction of $724,500.00. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of CVG. Victory Capital Management Inc. increased its stake in shares of Convergys by 17.7% during the second quarter. Victory Capital Management Inc. now owns 7,498 shares of the business services provider’s stock valued at $178,000 after acquiring an additional 1,125 shares during the period. Riverhead Capital Management LLC increased its stake in shares of Convergys by 71.0% during the second quarter. Riverhead Capital Management LLC now owns 7,525 shares of the business services provider’s stock valued at $179,000 after acquiring an additional 3,125 shares during the period. Flinton Capital Management LLC increased its stake in shares of Convergys by 69.1% during the second quarter. Flinton Capital Management LLC now owns 8,428 shares of the business services provider’s stock valued at $200,000 after acquiring an additional 3,444 shares during the period. Teacher Retirement System of Texas acquired a new position in shares of Convergys during the third quarter valued at approximately $201,000. Finally, Crossmark Global Holdings Inc. acquired a new position in Convergys in the third quarter worth approximately $222,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

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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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