Conduent Inc. (CNDT) Expected to Announce Earnings of $0.26 Per Share

Equities research analysts expect that Conduent Inc. (NYSE:CNDT) will announce earnings of $0.26 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Conduent’s earnings, with the lowest EPS estimate coming in at $0.24 and the highest estimate coming in at $0.27. Conduent posted earnings per share of $0.29 during the same quarter last year, which indicates a negative year over year growth rate of 10.3%. The firm is expected to issue its next quarterly earnings report on Wednesday, February 28th.

According to Zacks, analysts expect that Conduent will report full year earnings of $0.81 per share for the current fiscal year, with EPS estimates ranging from $0.78 to $0.83. For the next fiscal year, analysts expect that the business will post earnings of $1.01 per share, with EPS estimates ranging from $0.95 to $1.08. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Conduent.

Conduent (NYSE:CNDT) last posted its earnings results on Wednesday, November 8th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the company posted $0.24 earnings per share. The business’s revenue for the quarter was down 7.3% compared to the same quarter last year.

Several analysts recently issued reports on CNDT shares. BidaskClub raised shares of Conduent from a “strong sell” rating to a “sell” rating in a report on Thursday, November 9th. Zacks Investment Research raised 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 Thursday, November 9th. SunTrust Banks reaffirmed a “buy” rating and issued a $20.00 price target on shares of Conduent in a report on Friday, November 10th. Cross Research raised shares of Conduent from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. Finally, BMO Capital Markets cut 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. Conduent presently has an average rating of “Hold” and a consensus target price of $18.43.

Conduent (NYSE CNDT) traded down $0.10 during midday trading on Friday, hitting $15.35. 2,502,600 shares of the stock were exchanged, compared to its average volume of 2,481,072. The firm has a market capitalization of $3,250.33 and a PE ratio of 18.61. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.60. Conduent has a twelve month low of $13.10 and a twelve month high of $18.15.

Several large investors have recently modified their holdings of CNDT. Sei Investments Co. raised its holdings in shares of Conduent by 20.7% during the second quarter. Sei Investments Co. now owns 14,787 shares of the company’s stock worth $235,000 after purchasing an additional 2,533 shares during the period. Trexquant Investment LP bought a new position in shares of Conduent during the second quarter worth about $204,000. Teacher Retirement System of Texas grew its position in shares of Conduent by 0.7% during the second quarter. Teacher Retirement System of Texas now owns 13,816 shares of the company’s stock worth $220,000 after acquiring an additional 98 shares during the last quarter. First Mercantile Trust Co. grew its position in shares of Conduent by 56.2% during the second quarter. First Mercantile Trust Co. now owns 14,845 shares of the company’s stock worth $237,000 after acquiring an additional 5,340 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of Conduent by 8.3% during the second quarter. Rhumbline Advisers now owns 179,102 shares of the company’s stock worth $2,855,000 after acquiring an additional 13,736 shares during the last quarter. 88.68% of the stock is currently owned by institutional investors.

WARNING: This report was originally posted by Week Herald and is owned by of Week Herald. If you are reading this report on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright law. The original version of this report can be viewed at https://weekherald.com/2017/12/13/conduent-inc-cndt-expected-to-announce-earnings-of-0-26-per-share.html.

About Conduent

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).

Get a free copy of the Zacks research report on Conduent (CNDT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Conduent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conduent and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply