Brokerages Anticipate Convergys Corp (CVG) Will Announce Quarterly Sales of $695.78 Million

Equities analysts predict that Convergys Corp (NYSE:CVG) will report sales of $695.78 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Convergys’ earnings, with the lowest sales estimate coming in at $689.03 million and the highest estimate coming in at $700.20 million. Convergys posted sales of $757.90 million in the same quarter last year, which suggests a negative year over year growth rate of 8.2%. The firm is expected to report its next earnings results after the market closes on Wednesday, February 21st.

According to Zacks, analysts expect that Convergys will report full-year sales of $695.78 million for the current fiscal year, with estimates ranging from $2.79 billion to $2.80 billion. For the next year, analysts forecast that the business will post sales of $2.72 billion per share, with estimates ranging from $2.67 billion to $2.77 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Convergys.

Several research firms have recently commented on CVG. Robert W. Baird restated a “hold” rating and set a $28.00 price target on shares of Convergys in a research report on Tuesday, October 24th. ValuEngine lowered Convergys from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Zacks Investment Research lowered Convergys from a “hold” rating to a “sell” rating in a research report on Friday, November 10th. Finally, Citigroup decreased their target price on Convergys from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, November 10th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $26.00.

Convergys (NYSE:CVG) opened at $21.75 on Thursday. Convergys has a 52-week low of $20.15 and a 52-week high of $26.66. The company has a market capitalization of $1,988.71, a price-to-earnings ratio of 11.51, a PEG ratio of 1.30 and a beta of 1.02. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.60 and a current ratio of 2.60.

In related news, CEO Andrea J. Ayers sold 30,000 shares of Convergys stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $24.15, for a total value of $724,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in CVG. Balter Liquid Alternatives LLC purchased a new position in Convergys in the fourth quarter valued at $130,000. Teacher Retirement System of Texas purchased a new position in Convergys in the third quarter valued at $201,000. Crossmark Global Holdings Inc. purchased a new position in Convergys in the third quarter valued at $222,000. Victory Capital Management Inc. boosted its holdings in Convergys by 27.0% in the third quarter. Victory Capital Management Inc. now owns 9,526 shares of the business services provider’s stock valued at $247,000 after purchasing an additional 2,028 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in Convergys in the fourth quarter valued at $256,000.

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About Convergys

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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