Convergys Corporation (CVG) Expected to Earn Q3 2017 Earnings of $0.44 Per Share
Convergys Corporation (NYSE:CVG) – Analysts at Barrington Research issued their Q3 2017 earnings per share (EPS) estimates for Convergys Corporation in a note issued to investors on Tuesday. Barrington Research analyst V. Colicchio expects that the business services provider will post earnings per share of $0.44 for the quarter. Barrington Research currently 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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 analyst estimates of $687.91 million. During the same period in the previous year, the company earned $0.41 earnings per share. The business’s revenue for the quarter was down .8% on a year-over-year basis. COPYRIGHT VIOLATION NOTICE: “Convergys Corporation (CVG) Expected to Earn Q3 2017 Earnings of $0.44 Per Share” was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another site, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this story can be read at https://www.thecerbatgem.com/2017/10/21/convergys-corporation-cvg-expected-to-earn-q3-2017-earnings-of-0-44-per-share.html.
A number of other research firms also recently commented on CVG. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $26.00 target price on shares of Convergys Corporation in a research report on Monday, October 9th. BidaskClub cut shares of Convergys Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, Robert W. Baird restated a “hold” rating on shares of Convergys Corporation in a research note on Sunday, September 17th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $26.00.
Convergys Corporation (NYSE CVG) opened at 26.02 on Thursday. The firm has a 50-day moving average of $25.24 and a 200 day moving average of $23.91. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 18.38 and a beta of 1.06. Convergys Corporation has a 12-month low of $20.15 and a 12-month high of $30.10.
The company also recently declared a quarterly dividend, which was paid on Friday, October 6th. Stockholders of record on Friday, September 22nd were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, September 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.54%. Convergys Corporation’s dividend payout ratio (DPR) is presently 28.37%.
In other Convergys Corporation news, Director Jeffrey H. Fox sold 43,609 shares of the business’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 transaction of $1,026,119.77. Following the completion of the sale, the director now directly owns 338,804 shares in the company, valued at $7,972,058.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Andre S. Valentine sold 10,000 shares of the business’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 transaction of $235,200.00. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wayne Hummer Investments L.L.C. acquired a new position in shares of Convergys Corporation during the second quarter worth $206,000. AQR Capital Management LLC raised its holdings in Convergys Corporation by 20.5% in the first quarter. AQR Capital Management LLC now owns 2,968,936 shares of the business services provider’s stock valued at $62,793,000 after acquiring an additional 505,311 shares in the last quarter. State Street Corp raised its holdings in Convergys Corporation by 3.5% in the first quarter. State Street Corp now owns 3,181,333 shares of the business services provider’s stock valued at $67,284,000 after acquiring an additional 108,814 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Convergys Corporation by 4.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,056,927 shares of the business services provider’s stock valued at $64,654,000 after acquiring an additional 141,399 shares in the last quarter. Finally, Foundry Partners LLC raised its holdings in Convergys Corporation by 11.4% in the second quarter. Foundry Partners LLC now owns 226,348 shares of the business services provider’s stock valued at $5,383,000 after acquiring an additional 23,197 shares in the last quarter. Institutional investors own 98.72% of the company’s stock.
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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