Analysts forecast that Conduent Inc (NYSE:CNDT) will report $1.49 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Conduent’s earnings. The highest sales estimate is $1.51 billion and the lowest is $1.47 billion. Conduent posted sales of $1.51 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.3%. The firm is scheduled to issue its next 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 fiscal year, with estimates ranging from $6.00 billion to $6.04 billion. For the next financial 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’ sales averages are a mean average based on a survey of research firms that follow Conduent.
Conduent (NYSE:CNDT) last issued its quarterly earnings results on Wednesday, November 8th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.50 billion. Conduent had a negative net margin of 16.18% and a positive return on equity of 5.45%. The business’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 EPS.
A number of analysts have recently weighed in on CNDT shares. Cross Research raised shares of Conduent from a “hold” rating to a “buy” rating in a research note on Tuesday, November 7th. SunTrust Banks reaffirmed a “buy” rating and issued a $20.00 price target on shares of Conduent in a research note on Friday, November 10th. BMO Capital Markets reaffirmed a “hold” rating and issued a $18.00 price target on shares of Conduent in a research note on Thursday, September 28th. BidaskClub lowered shares of Conduent from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 21st. Finally, Zacks Investment Research upgraded shares of Conduent from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Thursday, November 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $19.60.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised 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 worth $251,165,000 after purchasing an additional 520,764 shares in the last quarter. Lord Abbett & CO. LLC raised 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 worth $95,228,000 after purchasing an additional 1,806,896 shares in the last quarter. Dimensional Fund Advisors LP raised 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 worth $63,151,000 after purchasing an additional 771,222 shares in the last quarter. State Street Corp raised 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 worth $40,035,000 after purchasing an additional 798,390 shares in the last quarter. Finally, Point72 Asset Management L.P. raised 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 worth $31,400,000 after purchasing an additional 313,500 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.
Shares of Conduent (NYSE:CNDT) traded up $0.20 during trading hours on Monday, hitting $16.91. 1,784,605 shares of the stock were exchanged, compared to its average volume of 2,225,533. The firm has a market cap of $3,557.48 and a price-to-earnings ratio of -3.49. Conduent has a 12 month low of $13.75 and a 12 month high of $18.15. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.60.
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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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