Convergys Corp. (NYSE:CVG) – Investment analysts at SunTrust Banks dropped their FY2016 earnings estimates for Convergys Corp. in a report released on Thursday. SunTrust Banks analyst F. Atkins now forecasts that the firm will post earnings of $1.85 per share for the year, down from their prior forecast of $1.91. SunTrust Banks also issued estimates for Convergys Corp.’s FY2017 earnings at $1.95 EPS.

Several other analysts also recently commented on the company. Zacks Investment Research downgraded Convergys Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, October 11th. Citigroup Inc. increased their target price on Convergys Corp. from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $31.00.

Earnings History and Estimates for Convergys Corp. (NYSE:CVG)

Convergys Corp. (NYSE:CVG) opened at 23.98 on Monday. The stock has a 50 day moving average price of $28.76 and a 200 day moving average price of $27.97. Convergys Corp. has a 12 month low of $22.53 and a 12 month high of $30.92. The stock has a market capitalization of $2.29 billion, a PE ratio of 14.92 and a beta of 0.96.

Convergys Corp. (NYSE:CVG) last announced its quarterly earnings results on Tuesday, November 8th. The company reported $0.46 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.46. The company earned $741 million during the quarter, compared to analysts’ expectations of $760.53 million. Convergys Corp. had a return on equity of 14.87% and a net margin of 5.78%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 earnings per share.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 6th. Stockholders of record on Friday, December 23rd will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, December 21st. This represents a $0.36 annualized dividend and a dividend yield of 1.50%. Convergys Corp.’s payout ratio is 22.22%.

In related news, Director Jeffrey H. Fox sold 10,000 shares of the firm’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $29.96, for a total value of $299,600.00. Following the transaction, the director now directly owns 318,610 shares of the company’s stock, valued at approximately $9,545,555.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Andre S. Valentine sold 9,000 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $29.56, for a total value of $266,040.00. Following the completion of the transaction, the chief financial officer now directly owns 80,137 shares in the company, valued at $2,368,849.72. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the company. MSI Financial Services Inc boosted its position in shares of Convergys Corp. by 37.5% in the third quarter. MSI Financial Services Inc now owns 3,364 shares of the company’s stock worth $102,000 after buying an additional 918 shares in the last quarter. BlackRock Japan Co. Ltd bought a new position in shares of Convergys Corp. during the third quarter worth approximately $108,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Convergys Corp. by 11.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,558 shares of the company’s stock worth $108,000 after buying an additional 372 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Convergys Corp. by 16.7% in the third quarter. Victory Capital Management Inc. now owns 4,241 shares of the company’s stock worth $129,000 after buying an additional 608 shares in the last quarter. Finally, Advisor Group Inc. bought a new position in shares of Convergys Corp. during the second quarter worth approximately $109,000. 98.99% of the stock is currently owned by institutional investors.

Convergys Corp. Company Profile

Convergys Corporation is engaged in providing customer management services. The Company’s primary focus is on growth with multinational corporations and other companies in communications and media, financial services, technology, healthcare, retail and other vertical markets. Its segments include North America and Rest of World.

5 Day Chart for NYSE:CVG

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