Amdocs (NASDAQ:DOX) Issues Q3 Earnings Guidance

Amdocs (NASDAQ:DOX) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $1.57-1.63 for the period, compared to the consensus EPS estimate of $1.67. The company issued revenue guidance of $1.235-1.275 billion, compared to the consensus revenue estimate of $1.26 billion. Amdocs also updated its FY 2024 guidance to 6.320-6.560 EPS.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. StockNews.com lowered Amdocs from a strong-buy rating to a buy rating in a report on Friday, March 15th. Barclays increased their price objective on shares of Amdocs from $105.00 to $115.00 and gave the company an overweight rating in a research note on Thursday, February 8th. Finally, Citigroup lifted their target price on shares of Amdocs from $96.00 to $104.00 and gave the company a buy rating in a research report on Wednesday, January 17th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Amdocs has an average rating of Buy and an average price target of $108.60.

Amdocs Price Performance

Shares of NASDAQ DOX traded up $0.86 during midday trading on Wednesday, reaching $85.91. 743,750 shares of the company traded hands, compared to its average volume of 660,316. Amdocs has a 12 month low of $78.38 and a 12 month high of $99.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.29 and a current ratio of 1.29. The stock’s 50-day simple moving average is $88.59 and its 200-day simple moving average is $87.52. The firm has a market cap of $10.10 billion, a PE ratio of 18.40, a PEG ratio of 1.36 and a beta of 0.70.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.16. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.24 billion. Amdocs had a net margin of 11.30% and a return on equity of 17.79%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the firm posted $1.33 EPS. As a group, equities analysts anticipate that Amdocs will post 5.87 earnings per share for the current fiscal year.

Amdocs Company Profile

Amdocs Limited, through its subsidiaries, provides software and services worldwide. It designs, develops, operates, implements, supports, and markets open and modular cloud portfolio. The company provides CES23, a 5G and cloud-native microservices-based market-leading customer experience suite, that enables service providers to build, deliver, and monetize advanced services; Amdocs Subscription Marketplace, a software-as-a-service-based platform that includes an expansive network of pre-integrated digital services, such as media, gaming, eLearning, sports, and retail to security and business services; the monetization suite for charging, billing, policy, and revenue management; Intelligent networking suite with a set of modular, flexible, and open service lifecycle management capabilities for network automation journeys; amAIz, a telco GenAI framework; Amdocs Digital Brands Suite, a pre-integrated digital business suite; and Amdocs eSIM Cloud for service providers.