Conduent Inc (CNDT) Expected to Post Earnings of $0.28 Per Share

Wall Street analysts expect Conduent Inc (NYSE:CNDT) to report earnings of $0.28 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Conduent’s earnings. The highest EPS estimate is $0.30 and the lowest is $0.24. Conduent posted earnings of $0.22 per share in the same quarter last year, which would suggest a positive year over year growth rate of 27.3%. The firm is expected to announce its next quarterly earnings report on Wednesday, November 14th.

On average, analysts expect that Conduent will report full-year earnings of $1.08 per share for the current year, with EPS estimates ranging from $1.00 to $1.17. For the next fiscal year, analysts forecast that the company will report earnings of $1.28 per share, with EPS estimates ranging from $1.17 to $1.35. Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for Conduent.

Conduent (NYSE:CNDT) last released its earnings results on Wednesday, August 8th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.22 by $0.07. Conduent had a net margin of 2.63% and a return on equity of 6.53%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the business earned $0.16 earnings per share. The business’s quarterly revenue was down 7.3% on a year-over-year basis.



Several analysts recently commented on CNDT shares. Zacks Investment Research lowered shares of Conduent from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 19th. BMO Capital Markets restated a “hold” rating on shares of Conduent in a research report on Wednesday, June 13th. Finally, Morgan Stanley upped their price target on shares of Conduent from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $22.50.

Several large investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. lifted its position in shares of Conduent by 11.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 102,471 shares of the company’s stock valued at $1,862,000 after acquiring an additional 10,294 shares in the last quarter. NumerixS Investment Technologies Inc lifted its position in Conduent by 369.2% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 50,200 shares of the company’s stock worth $895,000 after buying an additional 39,500 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in Conduent by 19.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 19,289 shares of the company’s stock worth $350,000 after buying an additional 3,142 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Conduent by 7.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,076,536 shares of the company’s stock worth $92,238,000 after buying an additional 373,651 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in Conduent in the 2nd quarter worth approximately $1,294,000. Institutional investors and hedge funds own 92.61% of the company’s stock.

CNDT stock traded up $0.09 on Tuesday, hitting $20.03. 1,741,548 shares of the company’s stock traded hands, compared to its average volume of 1,723,058. Conduent has a 1-year low of $14.95 and a 1-year high of $21.06. The firm has a market cap of $4.21 billion, a PE ratio of 19.17 and a beta of -0.70. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.03 and a quick ratio of 1.91.

Conduent Company Profile

Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and internationally. It operates in two segments, Commercial Industries and Public Sector. The Commercial Industries segment offers business process services and customized solutions to clients in various industries.

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Earnings History and Estimates for Conduent (NYSE:CNDT)

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