Convergys Corporation (NYSE:CVG) – Equities research analysts at Barrington Research issued their Q3 2017 earnings per share (EPS) estimates for shares of Convergys Corporation in a note issued to investors on Tuesday. Barrington Research analyst V. Colicchio expects that the business services provider will earn $0.44 per share for the quarter. Barrington Research has a “Market Perform” rating on the stock. Barrington Research also issued estimates for Convergys Corporation’s Q4 2017 earnings at $0.46 EPS, FY2017 earnings at $1.88 EPS, Q1 2018 earnings at $0.48 EPS, Q2 2018 earnings at $0.45 EPS, Q3 2018 earnings at $0.50 EPS, Q4 2018 earnings at $0.52 EPS, FY2018 earnings at $1.94 EPS and FY2019 earnings at $2.14 EPS.
Convergys Corporation (NYSE:CVG) last released its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.07. Convergys Corporation had a net margin of 4.90% and a return on equity of 14.46%. The business had revenue of $686.80 million for the quarter, compared to analysts’ expectations of $687.91 million. During the same period last year, the business earned $0.41 EPS. The company’s revenue was down .8% compared to the same quarter last year. ILLEGAL ACTIVITY NOTICE: “Convergys Corporation to Post Q3 2017 Earnings of $0.44 Per Share, Barrington Research Forecasts (CVG)” was first reported by TrueBlueTribune and is the property of of TrueBlueTribune. If you are accessing this piece of content on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright legislation. The original version of this piece of content can be read at https://www.truebluetribune.com/2017/10/20/convergys-corporation-to-post-q3-2017-earnings-of-0-44-per-share-barrington-research-forecasts-cvg.html.
A number of other equities analysts also recently commented on the company. SunTrust Banks, Inc. reissued a “hold” rating and set a $26.00 price objective on shares of Convergys Corporation in a research report on Monday, October 9th. Robert W. Baird reissued a “hold” rating on shares of Convergys Corporation in a research report on Sunday, September 17th. Finally, BidaskClub raised Convergys Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $26.00.
Shares of Convergys Corporation (NYSE:CVG) opened at 25.71 on Thursday. The company has a market capitalization of $2.40 billion, a PE ratio of 18.16 and a beta of 1.06. The stock has a 50 day moving average of $25.16 and a 200-day moving average of $23.87. Convergys Corporation has a 12-month low of $20.15 and a 12-month high of $30.10.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its holdings in Convergys Corporation by 0.3% in the second quarter. PNC Financial Services Group Inc. now owns 37,296 shares of the business services provider’s stock valued at $886,000 after purchasing an additional 112 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in Convergys Corporation by 0.4% in the second quarter. Meeder Asset Management Inc. now owns 31,935 shares of the business services provider’s stock valued at $760,000 after purchasing an additional 126 shares in the last quarter. Advantus Capital Management Inc boosted its holdings in Convergys Corporation by 2.0% in the first quarter. Advantus Capital Management Inc now owns 12,094 shares of the business services provider’s stock valued at $256,000 after purchasing an additional 241 shares in the last quarter. BB&T Corp boosted its holdings in Convergys Corporation by 0.6% in the second quarter. BB&T Corp now owns 51,243 shares of the business services provider’s stock valued at $1,218,000 after purchasing an additional 317 shares in the last quarter. Finally, Texas Permanent School Fund boosted its holdings in Convergys Corporation by 0.5% in the second quarter. Texas Permanent School Fund now owns 68,723 shares of the business services provider’s stock valued at $1,634,000 after purchasing an additional 332 shares in the last quarter. 98.72% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Andre S. Valentine sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $23.52, for a total value of $235,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey H. Fox sold 43,609 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 338,804 shares of the company’s stock, valued at $7,972,058.12. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 6th. Investors of record on Friday, September 22nd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Thursday, September 21st. Convergys Corporation’s dividend payout ratio (DPR) is 28.37%.
About Convergys Corporation
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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