Brokerages expect Conduent Inc (NYSE:CNDT) to post $1.49 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Conduent’s earnings. The highest sales estimate is $1.51 billion and the lowest is $1.47 billion. Conduent reported sales of $1.51 billion during the same quarter last year, which would suggest a negative year over year growth rate of 1.3%. The business is expected to announce its next quarterly earnings report on Wednesday, February 28th.
According to Zacks, analysts expect that Conduent will report full-year sales of $1.49 billion for the current financial year, with estimates ranging from $6.00 billion to $6.04 billion. For the next year, analysts expect that the company will post sales of $5.93 billion per share, with estimates ranging from $5.80 billion to $6.04 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Conduent.
Conduent (NYSE:CNDT) last announced its earnings results on Wednesday, November 8th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.01. Conduent had a negative net margin of 16.18% and a positive return on equity of 5.45%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the business earned $0.24 earnings per share. Conduent’s revenue was down 7.3% compared to the same quarter last year.
A number of analysts recently issued reports on the stock. BidaskClub upgraded shares of Conduent from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 9th. Zacks Investment Research upgraded shares of Conduent from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Monday, January 1st. Cowen reiterated a “hold” rating on shares of Conduent in a report on Friday, October 6th. BMO Capital Markets decreased their price target on shares of Conduent from $18.00 to $17.00 and set a “market perform” rating on the stock in a report on Thursday, November 9th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $20.00 price target on shares of Conduent in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Conduent presently has an average rating of “Hold” and a consensus target price of $19.60.
Shares of Conduent (NYSE CNDT) traded up $0.20 during midday trading on Monday, reaching $16.91. 1,784,605 shares of the company were exchanged, compared to its average volume of 2,225,533. Conduent has a 1 year low of $13.75 and a 1 year high of $18.15. The firm has a market capitalization of $3,557.48 and a price-to-earnings ratio of -3.49. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.74 and a current ratio of 1.74.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Conduent by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 15,756,920 shares of the company’s stock valued at $251,165,000 after purchasing an additional 520,764 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of Conduent by 43.4% in the 2nd quarter. Lord Abbett & CO. LLC now owns 5,974,165 shares of the company’s stock valued at $95,228,000 after purchasing an additional 1,806,896 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Conduent by 23.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,030,034 shares of the company’s stock valued at $63,151,000 after purchasing an additional 771,222 shares during the last quarter. State Street Corp boosted its holdings in shares of Conduent by 46.6% in the 2nd quarter. State Street Corp now owns 2,511,213 shares of the company’s stock valued at $40,035,000 after purchasing an additional 798,390 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Conduent by 18.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,003,800 shares of the company’s stock valued at $31,400,000 after purchasing an additional 313,500 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.
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Conduent Company Profile
Conduent Incorporated is a provider of business process services, including transaction-intensive processing, analytics and automation services. The Company’s segments include Commercial Industries, Healthcare and Public Sector. The Commercial Industries segment provides business process services and customized solutions to clients in a range of industries (other than healthcare).
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