Zacks: Brokerages Expect Conduent Inc (CNDT) Will Announce Quarterly Sales of $1.51 Billion
Wall Street brokerages expect that Conduent Inc (NASDAQ:CNDT) will announce sales of $1.51 billion for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Conduent’s earnings. The company is scheduled to announce its next quarterly earnings report on Wednesday, November 8th.
On average, analysts expect that Conduent will report full year sales of $1.51 billion for the current financial year, with estimates ranging from $6.07 billion to $6.11 billion. For the next year, analysts forecast that the business will post sales of $6.01 billion per share, with estimates ranging from $5.93 billion to $6.12 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Conduent.
Conduent (NASDAQ:CNDT) last released its quarterly earnings data on Wednesday, August 9th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Conduent had a negative return on equity of 0.48% and a negative net margin of 0.27%. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 earnings per share.
Several equities research analysts recently issued reports on CNDT shares. Cowen and Company started coverage on shares of Conduent in a research note on Friday, May 19th. They issued a “market perform” rating and a $18.00 target price for the company. Citigroup Inc. reissued a “buy” rating and issued a $25.00 price target (up from $17.00) on shares of Conduent in a report on Friday, June 9th. Finally, Zacks Investment Research cut shares of Conduent from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $18.00.
In other news, EVP David Amoriell sold 106,500 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $17.01, for a total transaction of $1,811,565.00. Following the completion of the sale, the executive vice president now directly owns 120,630 shares of the company’s stock, valued at $2,051,916.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
A number of institutional investors have recently added to or reduced their stakes in the stock. Community Financial Services Group LLC purchased a new position in Conduent in the first quarter valued at about $202,000. Cohen Capital Management Inc. bought a new stake in Conduent during the 2nd quarter worth approximately $1,881,000. Nisa Investment Advisors LLC increased its holdings in Conduent by 7.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 30,135 shares of the company’s stock worth $483,000 after acquiring an additional 2,000 shares during the period. Alpha Windward LLC increased its holdings in Conduent by 1.5% during the 2nd quarter. Alpha Windward LLC now owns 34,916 shares of the company’s stock worth $557,000 after acquiring an additional 524 shares during the period. Finally, Kirr Marbach & Co. LLC IN bought a new stake in Conduent during the 2nd quarter worth approximately $8,922,000.
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Conduent (NASDAQ:CNDT) traded up 1.38% during trading on Friday, reaching $16.18. The company’s stock had a trading volume of 1,517,490 shares. The company’s market cap is $3.40 billion. The company’s 50 day moving average price is $16.64 and its 200 day moving average price is $16.35. Conduent has a 52 week low of $13.10 and a 52 week high of $18.15.
Conduent Company Profile
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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