Convergys Corporation (CVG) to Post FY2017 Earnings of $1.86 Per Share, Barrington Research Forecasts
Convergys Corporation (NYSE:CVG) – Stock analysts at Barrington Research cut their FY2017 EPS estimates for shares of Convergys Corporation in a research note issued to investors on Monday. Barrington Research analyst V. Colicchio now anticipates that the business services provider will earn $1.86 per share for the year, down from their prior estimate of $1.88. Barrington Research currently has a “Market Perform” rating on the stock. Barrington Research also issued estimates for Convergys Corporation’s Q1 2018 earnings at $0.44 EPS, Q2 2018 earnings at $0.44 EPS, Q3 2018 earnings at $0.49 EPS, Q4 2018 earnings at $0.51 EPS and FY2019 earnings at $2.04 EPS.
A number of other equities analysts have also weighed in on CVG. BidaskClub lowered shares of Convergys Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Robert W. Baird restated a “hold” rating on shares of Convergys Corporation in a research report on Sunday, September 17th. SunTrust Banks, Inc. restated a “hold” rating and issued a $26.00 price objective on shares of Convergys Corporation in a research report on Monday, October 9th. Citigroup Inc. cut their price objective on shares of Convergys Corporation from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Zacks Investment Research lowered shares of Convergys Corporation from a “hold” rating to a “sell” rating in a research report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $26.00.
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Convergys Corporation (NYSE:CVG) opened at $23.31 on Tuesday. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.25. The firm has a market cap of $2,170.00, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.33 and a beta of 1.11. Convergys Corporation has a 1 year low of $20.15 and a 1 year high of $26.66.
Convergys Corporation (NYSE:CVG) last issued its earnings results on Tuesday, November 7th. The business services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The business had revenue of $688.30 million for the quarter, compared to the consensus estimate of $692.34 million. Convergys Corporation had a return on equity of 13.92% and a net margin of 4.54%. Convergys Corporation’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 EPS.
Several hedge funds have recently bought and sold shares of the business. Sirios Capital Management L P raised its stake in shares of Convergys Corporation by 5.5% during the third quarter. Sirios Capital Management L P now owns 517,827 shares of the business services provider’s stock worth $13,406,000 after acquiring an additional 26,771 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Convergys Corporation by 13.5% during the third quarter. Stifel Financial Corp now owns 325,141 shares of the business services provider’s stock worth $8,408,000 after acquiring an additional 38,780 shares in the last quarter. OxFORD Asset Management LLP purchased a new position in shares of Convergys Corporation during the third quarter worth approximately $637,000. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Convergys Corporation by 51.4% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 197,600 shares of the business services provider’s stock worth $5,116,000 after acquiring an additional 67,100 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Convergys Corporation by 4.6% during the third quarter. KBC Group NV now owns 181,041 shares of the business services provider’s stock worth $4,687,000 after acquiring an additional 7,907 shares in the last quarter. 94.06% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Jeffrey H. Fox sold 43,609 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $23.53, for a total value of $1,026,119.77. Following 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.70% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 22nd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Thursday, December 21st. Convergys Corporation’s dividend payout ratio is currently 30.77%.
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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