Convergys Corporation (CVG) To Go Ex-Dividend on September 21st
Convergys Corporation (NYSE:CVG) declared a quarterly dividend on Thursday, August 10th, Wall Street Journal reports. Stockholders of record on Friday, September 22nd will be paid a dividend of 0.10 per share by the business services provider on Friday, October 6th. This represents a $0.40 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, September 21st.
Convergys Corporation has increased its dividend payment by an average of 13.9% annually over the last three years and has raised its dividend every year for the last 4 years. Convergys Corporation has a payout ratio of 21.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Convergys Corporation to earn $1.91 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 20.9%.
Convergys Corporation (NYSE CVG) opened at 24.62 on Friday. The stock’s 50 day moving average is $23.64 and its 200 day moving average is $23.08. The company has a market capitalization of $2.30 billion, a P/E ratio of 17.39 and a beta of 1.03. Convergys Corporation has a 52 week low of $20.15 and a 52 week high of $30.57.
Convergys Corporation (NYSE:CVG) last released its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.46 EPS for the quarter, topping 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 firm had revenue of $686.80 million during the quarter, compared to analysts’ expectations of $687.91 million. During the same period in the previous year, the company earned $0.41 EPS. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. On average, equities research analysts expect that Convergys Corporation will post $1.88 earnings per share for the current year.
In related news, Director Jeffrey H. Fox sold 43,609 shares of Convergys Corporation stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $23.53, for a total transaction of $1,026,119.77. Following the completion of the sale, the director now owns 338,804 shares in the company, valued at approximately $7,972,058.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Andre S. Valentine sold 10,000 shares of Convergys Corporation stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $23.52, for a total transaction of $235,200.00. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
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A number of equities analysts recently commented on the stock. ValuEngine cut shares of Convergys Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. TheStreet upgraded shares of Convergys Corporation from a “c+” rating to a “b-” rating in a report on Tuesday, May 23rd. Finally, BidaskClub lowered shares of Convergys Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $33.00.
Convergys Corporation Company Profile
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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