Zacks: Analysts Expect Amdocs Limited (DOX) Will Announce Quarterly Sales of $977.54 Million
Wall Street brokerages expect Amdocs Limited (NASDAQ:DOX) to announce sales of $977.54 million for the current quarter, Zacks reports. Five analysts have issued estimates for Amdocs Limited’s earnings. The highest sales estimate is $982.57 million and the lowest is $974.94 million. Amdocs Limited posted sales of $940.66 million in the same quarter last year, which suggests a positive year over year growth rate of 3.9%. The company is scheduled to report its next quarterly earnings results on Tuesday, November 14th.
According to Zacks, analysts expect that Amdocs Limited will report full year sales of $977.54 million for the current fiscal year, with estimates ranging from $3.86 billion to $3.87 billion. For the next financial year, analysts anticipate that the business will post sales of $4.00 billion per share, with estimates ranging from $3.98 billion to $4.03 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Amdocs Limited.
Amdocs Limited (NASDAQ:DOX) last released its earnings results on Wednesday, August 2nd. The technology company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.06. Amdocs Limited had a return on equity of 14.75% and a net margin of 11.11%. The business had revenue of $967 million during the quarter, compared to the consensus estimate of $967.04 million. During the same period last year, the company earned $0.90 earnings per share. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year.
A number of brokerages have commented on DOX. BidaskClub upgraded Amdocs Limited from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Barclays PLC restated a “hold” rating and set a $68.00 price objective on shares of Amdocs Limited in a research note on Friday, August 4th. Stifel Nicolaus restated a “buy” rating and set a $72.00 price objective (up previously from $68.00) on shares of Amdocs Limited in a research note on Thursday, August 3rd. Zacks Investment Research upgraded Amdocs Limited from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Friday, August 4th. Finally, Jefferies Group LLC restated a “hold” rating and set a $59.00 price objective on shares of Amdocs Limited in a research note on Friday, June 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $67.63.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in DOX. OLD National Bancorp IN boosted its position in Amdocs Limited by 0.6% in the second quarter. OLD National Bancorp IN now owns 4,358 shares of the technology company’s stock valued at $281,000 after buying an additional 25 shares during the period. Smith Moore & CO. boosted its position in Amdocs Limited by 1.0% in the first quarter. Smith Moore & CO. now owns 5,371 shares of the technology company’s stock valued at $328,000 after buying an additional 53 shares during the period. CWA Asset Management Group LLC boosted its position in Amdocs Limited by 1.8% in the second quarter. CWA Asset Management Group LLC now owns 3,536 shares of the technology company’s stock valued at $228,000 after buying an additional 61 shares during the period. Financial Counselors Inc. boosted its position in Amdocs Limited by 1.4% in the first quarter. Financial Counselors Inc. now owns 5,127 shares of the technology company’s stock valued at $313,000 after buying an additional 70 shares during the period. Finally, Huntington National Bank boosted its position in Amdocs Limited by 2.6% in the second quarter. Huntington National Bank now owns 4,565 shares of the technology company’s stock valued at $295,000 after buying an additional 117 shares during the period. Institutional investors and hedge funds own 89.31% of the company’s stock.
Shares of Amdocs Limited (NASDAQ:DOX) traded up 0.42% during trading on Friday, hitting $64.18. The stock had a trading volume of 808,242 shares. Amdocs Limited has a 12 month low of $54.91 and a 12 month high of $67.98. The stock has a market cap of $9.33 billion, a price-to-earnings ratio of 22.35 and a beta of 0.54. The company’s 50 day moving average price is $64.97 and its 200 day moving average price is $63.03.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, September 29th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Thursday, September 28th. Amdocs Limited’s dividend payout ratio (DPR) is 30.66%.
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Amdocs Limited Company Profile
Amdocs Limited is a provider of software and services for communications, entertainment and media industry service providers. The Company develops, implements and manages software and services associated with business support systems (BSS), operational support systems (OSS) and network operations to enable service providers to introduce new products and services, process orders, monetize data, support new business models and enhance their understanding of their customers.
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