Brokerages expect that Convergys Corp (NYSE:CVG) will announce $0.46 earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have made estimates for Convergys Corp’s earnings, with the lowest EPS estimate coming in at $0.44 and the highest estimate coming in at $0.47. Convergys Corp posted earnings per share of $0.50 in the same quarter last year, which indicates a negative year over year growth rate of 8%. The firm is expected to report its next earnings results after the market closes on Monday, May 8th.
On average, analysts expect that Convergys Corp will report full year earnings of $1.84 per share for the current year, with EPS estimates ranging from $1.82 to $1.85. For the next fiscal year, analysts forecast that the firm will report earnings of $1.91 per share, with EPS estimates ranging from $1.84 to $1.95. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Convergys Corp.
Convergys Corp (NYSE:CVG) last issued its quarterly earnings results on Wednesday, February 22nd. The business services provider reported $0.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by $0.01. The business had revenue of $757.90 million for the quarter, compared to the consensus estimate of $767.69 million. Convergys Corp had a net margin of 5.78% and a return on equity of 14.87%. The business’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS.
CVG has been the subject of several analyst reports. Zacks Investment Research raised Convergys Corp from a “sell” rating to a “hold” rating in a research note on Tuesday, February 14th. SunTrust Banks, Inc. lowered Convergys Corp from a “buy” rating to a “hold” rating in a research note on Wednesday, February 15th. Sidoti reissued a “buy” rating on shares of Convergys Corp in a research note on Monday, March 27th. Finally, TheStreet lowered Convergys Corp from a “b-” rating to a “c” rating in a research note on Monday, April 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $31.50.
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Shares of Convergys Corp (NYSE:CVG) traded down 0.63% during mid-day trading on Friday, hitting $22.01. The stock had a trading volume of 762,613 shares. Convergys Corp has a 12 month low of $20.15 and a 12 month high of $30.92. The stock’s 50-day moving average is $21.15 and its 200 day moving average is $24.84. The company has a market cap of $2.08 billion, a PE ratio of 15.74 and a beta of 0.93.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 7th. Investors of record on Friday, March 24th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Wednesday, March 22nd. Convergys Corp’s dividend payout ratio is currently 22.22%.
In other Convergys Corp news, CEO Andrea J. Ayers sold 30,000 shares of the firm’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $21.24, for a total transaction of $637,200.00. Following the transaction, the chief executive officer now directly owns 370,536 shares in the company, valued at approximately $7,870,184.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clark Estates Inc. NY purchased a new position in Convergys Corp during the first quarter valued at approximately $2,623,000. Louisiana State Employees Retirement System increased its position in Convergys Corp by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 23,900 shares of the business services provider’s stock valued at $505,000 after buying an additional 300 shares during the last quarter. Bank of Montreal Can increased its position in Convergys Corp by 333.5% in the first quarter. Bank of Montreal Can now owns 973,688 shares of the business services provider’s stock valued at $20,594,000 after buying an additional 749,097 shares during the last quarter. Foundry Partners LLC increased its position in Convergys Corp by 15.2% in the first quarter. Foundry Partners LLC now owns 203,151 shares of the business services provider’s stock valued at $4,297,000 after buying an additional 26,786 shares during the last quarter. Finally, Macquarie Group Ltd. increased its position in Convergys Corp by 44.2% in the fourth quarter. Macquarie Group Ltd. now owns 1,086,223 shares of the business services provider’s stock valued at $26,678,000 after buying an additional 332,795 shares during the last quarter. Institutional investors own 97.42% of the company’s stock.
Convergys Corp 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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