Brokerages expect Conduent Inc (NYSE:CNDT) to report sales of $1.36 billion for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Conduent’s earnings. The highest sales estimate is $1.37 billion and the lowest is $1.34 billion. Conduent posted sales of $1.48 billion during the same quarter last year, which suggests a negative year over year growth rate of 8.1%. The company is scheduled to report its next quarterly earnings results on Wednesday, November 14th.

On average, analysts expect that Conduent will report full-year sales of $5.50 billion for the current fiscal year, with estimates ranging from $5.47 billion to $5.52 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $5.17 billion, with estimates ranging from $4.78 billion to $5.48 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Conduent.

Conduent (NYSE:CNDT) last announced its earnings results on Wednesday, August 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.07. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Conduent had a net margin of 2.63% and a return on equity of 6.53%. The firm’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.16 EPS.

Several research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Conduent from a “sell” rating to a “hold” rating in a research report on Thursday, June 14th. BMO Capital Markets boosted their price target on shares of Conduent from $21.00 to $22.00 and gave the company a “market perform” rating in a research report on Monday, June 11th. Morgan Stanley boosted their price target on shares of Conduent from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 12th. Finally, JPMorgan Chase & Co. raised shares of Conduent from a “neutral” rating to an “overweight” rating and set a $15.00 price target on the stock in a research report on Tuesday, August 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Conduent currently has a consensus rating of “Buy” and an average price target of $23.00.

In other news, President David Amoriell sold 33,903 shares of the business’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $21.30, for a total transaction of $722,133.90. Following the transaction, the president now owns 83,888 shares of the company’s stock, valued at approximately $1,786,814.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.39% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of CNDT. Point72 Hong Kong Ltd lifted its position in Conduent by 170.1% in the second quarter. Point72 Hong Kong Ltd now owns 5,997 shares of the company’s stock valued at $109,000 after buying an additional 3,777 shares during the last quarter. SG Americas Securities LLC acquired a new position in Conduent in the second quarter valued at about $142,000. BNP Paribas Arbitrage SA lifted its position in Conduent by 416.0% in the second quarter. BNP Paribas Arbitrage SA now owns 7,972 shares of the company’s stock valued at $145,000 after buying an additional 6,427 shares during the last quarter. US Bancorp DE lifted its position in Conduent by 67.1% in the second quarter. US Bancorp DE now owns 8,381 shares of the company’s stock valued at $153,000 after buying an additional 3,366 shares during the last quarter. Finally, Signition LP acquired a new position in Conduent in the second quarter valued at about $198,000. 93.62% of the stock is currently owned by institutional investors.

Shares of CNDT stock traded down $0.01 on Friday, hitting $21.17. 1,055,246 shares of the stock traded hands, compared to its average volume of 1,983,030. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.57. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 24.91 and a beta of -0.03. Conduent has a twelve month low of $14.95 and a twelve month high of $23.39.

About Conduent

Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and internationally. It operates in two segments, Commercial Industries and Public Sector. The Commercial Industries segment offers business process services and customized solutions to clients in various industries.

See Also: Intrinsic Value

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Earnings History and Estimates for Conduent (NYSE:CNDT)

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