Convergys Corporation (CVG) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS
Convergys Corporation (NYSE:CVG) posted its quarterly earnings data on Tuesday. The business services provider reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.02), Bloomberg Earnings reports. The firm had revenue of $688.30 million during the quarter, compared to analyst estimates of $692.34 million. Convergys Corporation had a net margin of 4.90% and a return on equity of 14.46%. Convergys Corporation’s revenue was down 7.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 earnings per share.
Shares of Convergys Corporation (NYSE CVG) opened at $24.75 on Wednesday. The company has a quick ratio of 2.48, a current ratio of 2.48 and a debt-to-equity ratio of 0.26. Convergys Corporation has a fifty-two week low of $20.15 and a fifty-two week high of $29.11. The firm has a market capitalization of $2,369.31, a P/E ratio of 13.30, a PEG ratio of 1.42 and a beta of 1.11.
Several equities research analysts have recently weighed in on the company. Robert W. Baird reissued a “hold” rating and issued a $28.00 price objective on shares of Convergys Corporation in a report on Tuesday, October 24th. Barrington Research assumed coverage on Convergys Corporation in a report on Tuesday, October 17th. They issued a “market perform” rating for the company. SunTrust Banks, Inc. reissued a “hold” rating and issued a $26.00 price objective on shares of Convergys Corporation in a report on Monday, October 9th. Finally, BidaskClub raised Convergys Corporation from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $27.00.
In related news, Director Jeffrey H. Fox sold 43,609 shares of the stock in a transaction on Wednesday, September 6th. The stock was 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 of the company’s stock, valued at $7,972,058.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Andre S. Valentine sold 10,000 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $23.52, for a total value of $235,200.00. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
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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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