Genpact (NYSE:G) Issues FY 2024 Earnings Guidance

Genpact (NYSE:G) issued an update on its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 3.010-3.040 for the period, compared to the consensus EPS estimate of 3.010. The company issued revenue guidance of $4.6 billion-$4.6 billion, compared to the consensus revenue estimate of $4.6 billion. Genpact also updated its FY24 guidance to $3.01-3.04 EPS.

Analyst Upgrades and Downgrades

G has been the topic of several analyst reports. Needham & Company LLC reaffirmed a buy rating and issued a $40.00 target price on shares of Genpact in a research note on Friday, February 9th. StockNews.com downgraded Genpact from a strong-buy rating to a buy rating in a report on Friday, April 5th. JPMorgan Chase & Co. upped their price target on shares of Genpact from $42.00 to $43.00 and gave the stock an underweight rating in a research report on Friday, February 9th. Mizuho assumed coverage on Genpact in a research note on Tuesday, January 30th. They issued a neutral rating and a $40.00 price objective on the stock. Finally, Citigroup decreased their price objective on Genpact from $36.00 to $33.00 and set a neutral rating on the stock in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $39.78.

Genpact Stock Performance

G traded down $0.33 on Thursday, reaching $32.05. 1,994,977 shares of the stock were exchanged, compared to its average volume of 1,540,036. The firm has a market capitalization of $5.78 billion, a PE ratio of 9.34, a PEG ratio of 1.47 and a beta of 1.07. The company’s 50-day moving average price is $32.38 and its 200 day moving average price is $33.85. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.44 and a quick ratio of 1.44. Genpact has a fifty-two week low of $29.41 and a fifty-two week high of $39.95.

Genpact (NYSE:G) last posted its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.68 EPS for the quarter, beating the consensus estimate of $0.65 by $0.03. Genpact had a return on equity of 23.19% and a net margin of 14.10%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.12 billion. As a group, sell-side analysts forecast that Genpact will post 2.7 EPS for the current fiscal year.

Genpact Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Monday, June 10th will be issued a $0.153 dividend. This represents a $0.61 annualized dividend and a yield of 1.91%. The ex-dividend date is Monday, June 10th. Genpact’s payout ratio is currently 17.78%.

About Genpact

Genpact Limited provides business process outsourcing and information technology services in India, rest of Asia, North and Latin America, and Europe. It operates through three segments: Financial services; Consumer and Healthcare; and High Tech and Manufacturing. The Financial Services segment offers retail customer onboarding, customer service, collections, card servicing operations, loan and payment operations, commercial loan, equipment and auto loan, mortgage origination, compliance services, reporting and monitoring, and wealth management operations support; financial crime and risk management services; and underwriting support, new business processing, policy administration, claims management, catastrophe modeling and actuarial services, as well as property and casualty claims.