Wall Street analysts forecast that Convergys Corp (NYSE:CVG) will post earnings of $0.40 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Convergys’ earnings, with the highest EPS estimate coming in at $0.41 and the lowest estimate coming in at $0.37. Convergys reported earnings per share of $0.52 during the same quarter last year, which would indicate a negative year-over-year growth rate of 23.1%. The firm is scheduled to announce its next quarterly earnings results on Monday, May 14th.
On average, analysts expect that Convergys will report full-year earnings of $1.69 per share for the current financial year, with EPS estimates ranging from $1.68 to $1.69. For the next financial year, analysts expect that the firm will report earnings of $1.72 per share, with EPS estimates ranging from $1.62 to $1.79. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover Convergys.
Convergys (NYSE:CVG) last announced its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. The firm had revenue of $689.40 million during the quarter, compared to analysts’ expectations of $695.78 million. Convergys had a net margin of 4.35% and a return on equity of 13.71%. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.47 earnings per share.
A number of research firms have recently issued reports on CVG. Barrington Research restated a “hold” rating on shares of Convergys in a research note on Monday, February 26th. ValuEngine cut shares of Convergys from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Zacks Investment Research cut shares of Convergys from a “hold” rating to a “strong sell” rating in a research note on Monday, February 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $26.00.
In other news, CEO Andrea J. Ayers sold 30,000 shares of the firm’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $23.25, for a total transaction of $697,500.00. Following the completion of the sale, the chief executive officer now owns 396,239 shares in the company, valued at approximately $9,212,556.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.70% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of CVG. Boston Partners lifted its stake in shares of Convergys by 70.6% during the 4th quarter. Boston Partners now owns 912,525 shares of the business services provider’s stock worth $21,444,000 after buying an additional 377,481 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in Convergys in the 4th quarter worth about $7,050,000. Arrowstreet Capital Limited Partnership acquired a new stake in Convergys in the 4th quarter worth about $5,757,000. Royce & Associates LP raised its stake in Convergys by 28.2% in the 4th quarter. Royce & Associates LP now owns 970,643 shares of the business services provider’s stock worth $22,810,000 after purchasing an additional 213,608 shares in the last quarter. Finally, Macquarie Group Ltd. raised its stake in Convergys by 12.0% in the 3rd quarter. Macquarie Group Ltd. now owns 1,841,768 shares of the business services provider’s stock worth $47,684,000 after purchasing an additional 196,887 shares in the last quarter.
Shares of Convergys stock opened at $23.80 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.66 and a quick ratio of 2.66. The company has a market cap of $2,180.51, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 1.57 and a beta of 0.98. Convergys has a 12 month low of $20.15 and a 12 month high of $26.66.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 6th. Stockholders of record on Friday, March 23rd will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Thursday, March 22nd. Convergys’s dividend payout ratio is presently 32.79%.
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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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