$1.51 Billion in Sales Expected for Conduent Inc (CNDT) This Quarter
Brokerages forecast that Conduent Inc (NASDAQ:CNDT) will announce sales of $1.51 billion for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Conduent’s earnings. The firm is expected to report its next earnings report on Wednesday, November 8th.
According to Zacks, analysts expect that Conduent will report full year sales of $1.51 billion for the current financial year, with estimates ranging from $6.07 billion to $6.11 billion. For the next financial year, analysts anticipate that the company will report sales of $6.01 billion per share, with estimates ranging from $5.93 billion to $6.12 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Conduent.
Conduent (NASDAQ:CNDT) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.16. Conduent had a negative net margin of 0.27% and a negative return on equity of 0.48%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the company earned $0.30 EPS. The firm’s revenue was down 7.3% on a year-over-year basis.
Several research firms recently commented on CNDT. Zacks Investment Research downgraded Conduent from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Cowen and Company reissued a “hold” rating and issued a $18.00 price objective on shares of Conduent in a research note on Friday, July 28th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $25.00 price objective (up from $17.00) on shares of Conduent in a research note on Friday, June 9th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $18.00.
Shares of Conduent (NASDAQ:CNDT) opened at 16.77 on Monday. Conduent has a 52 week low of $13.10 and a 52 week high of $18.15. The stock’s market cap is $3.51 billion. The stock has a 50 day moving average of $16.45 and a 200-day moving average of $16.17.
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In other Conduent news, EVP David Amoriell sold 106,500 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $17.01, for a total value of $1,811,565.00. Following the completion of the sale, the executive vice president now directly owns 120,630 shares of the company’s stock, valued at approximately $2,051,916.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Several hedge funds have recently modified their holdings of CNDT. Advisory Services Network LLC increased its stake in shares of Conduent by 173.9% in the second quarter. Advisory Services Network LLC now owns 10,913 shares of the company’s stock worth $174,000 after buying an additional 6,929 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Conduent during the second quarter worth about $347,000. Verition Fund Management LLC increased its stake in shares of Conduent by 47.7% in the second quarter. Verition Fund Management LLC now owns 26,353 shares of the company’s stock worth $420,000 after buying an additional 8,508 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Conduent by 6.6% in the second quarter. The Manufacturers Life Insurance Company now owns 8,463 shares of the company’s stock worth $135,000 after buying an additional 527 shares during the period. Finally, CNH Partners LLC increased its stake in shares of Conduent by 13.6% in the second quarter. CNH Partners LLC now owns 1,260,070 shares of the company’s stock worth $20,086,000 after buying an additional 151,105 shares during the period.
Conduent Company Profile
Conduent Incorporated is a provider of business process services, including transaction-intensive processing, analytics and automation services. The Company’s segments include Commercial Industries, Healthcare and Public Sector. The Commercial Industries segment provides business process services and customized solutions to clients in a range of industries (other than healthcare).
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