Convergys (CVG) Expected to Announce Earnings of $0.40 Per Share

Brokerages expect Convergys (NYSE:CVG) to post earnings per share (EPS) of $0.40 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Convergys’ earnings. The lowest EPS estimate is $0.37 and the highest is $0.41. Convergys reported earnings per share of $0.52 during the same quarter last year, which indicates a negative year over year growth rate of 23.1%. The firm is scheduled to announce its next earnings results after the market closes on Tuesday, May 8th.

On average, analysts expect that Convergys will report full-year earnings of $1.69 per share for the current fiscal year, with EPS estimates ranging from $1.68 to $1.69. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.72 per share, with EPS estimates ranging from $1.62 to $1.79. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Convergys.

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Convergys (NYSE:CVG) last issued its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.02. Convergys had a return on equity of 13.71% and a net margin of 4.35%. The firm had revenue of $689.40 million during the quarter, compared to analyst estimates of $695.78 million. During the same period last year, the company earned $0.47 EPS. Convergys’s quarterly revenue was down 9.0% compared to the same quarter last year.

A number of brokerages have weighed in on CVG. ValuEngine raised Convergys from a “hold” rating to a “buy” rating in a research report on Thursday, April 19th. Barrington Research reaffirmed a “hold” rating on shares of Convergys in a research report on Monday, February 26th. Finally, Zacks Investment Research lowered Convergys from a “hold” rating to a “strong sell” rating in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $26.00.

In other news, CEO Andrea J. Ayers sold 30,000 shares of Convergys stock in a transaction on Monday, March 5th. The stock was sold at an average price of $23.25, for a total value of $697,500.00. Following the transaction, the chief executive officer now directly owns 396,239 shares in the company, valued at approximately $9,212,556.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.70% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. ING Groep NV lifted its position in Convergys by 22.1% during the 4th quarter. ING Groep NV now owns 13,944 shares of the business services provider’s stock worth $328,000 after acquiring an additional 2,520 shares during the period. First Trust Advisors LP lifted its position in Convergys by 4.2% during the 4th quarter. First Trust Advisors LP now owns 90,948 shares of the business services provider’s stock worth $2,137,000 after acquiring an additional 3,652 shares during the period. UBS Asset Management Americas Inc. lifted its position in Convergys by 5.8% during the 4th quarter. UBS Asset Management Americas Inc. now owns 68,372 shares of the business services provider’s stock worth $1,607,000 after acquiring an additional 3,725 shares during the period. OppenheimerFunds Inc. lifted its position in Convergys by 14.3% during the 4th quarter. OppenheimerFunds Inc. now owns 38,009 shares of the business services provider’s stock worth $893,000 after acquiring an additional 4,751 shares during the period. Finally, Crossmark Global Holdings Inc. lifted its position in Convergys by 63.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 14,024 shares of the business services provider’s stock worth $330,000 after acquiring an additional 5,442 shares during the period.

Shares of CVG stock traded down $0.14 on Friday, reaching $23.58. 66,438 shares of the company’s stock were exchanged, compared to its average volume of 1,003,163. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.66 and a current ratio of 2.66. The firm has a market capitalization of $2,163.11, a P/E ratio of 12.64, a P/E/G ratio of 1.56 and a beta of 0.98. Convergys has a 52 week low of $21.13 and a 52 week high of $26.66.

The business also recently declared a quarterly dividend, which was paid on Friday, April 6th. Stockholders of record on Friday, March 23rd were issued a $0.10 dividend. The ex-dividend date was Thursday, March 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.70%. Convergys’s dividend payout ratio is presently 21.39%.

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Convergys Company Profile

Convergys Corporation provides customer management services to communications and media, technology, financial services, retail, healthcare, government, travel and hospitality, and other vertical markets worldwide. The company offers solutions across the customer lifecycle, including sales, customer service, technical support, customer retention, and collection, as well as security, compliance, and fraud solutions; and solutions in contact center technology comprising omni-channel interaction, cross-channel integration framework, real-time decisioning engine, robotic process automation, intelligent notification, campaign management, personalized care, personalized selling, agent productivity, and retention solutions.

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