Conduent (NYSE:CNDT) Issues Quarterly Earnings Results

Conduent (NYSE:CNDT) posted its earnings results on Wednesday. The company reported $0.16 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.16, Briefing.com reports. Conduent had a positive return on equity of 6.35% and a negative net margin of 35.30%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm earned $0.28 earnings per share. The company’s revenue was down 15.8% on a year-over-year basis.

CNDT stock traded down $0.38 during midday trading on Friday, reaching $7.00. The company had a trading volume of 1,549,498 shares, compared to its average volume of 2,709,050. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 6.67 and a beta of 1.83. The stock has a 50 day moving average price of $6.10 and a 200-day moving average price of $8.16. Conduent has a 1-year low of $5.26 and a 1-year high of $15.48. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.32 and a quick ratio of 1.32.

A number of equities research analysts have recently weighed in on CNDT shares. JPMorgan Chase & Co. raised Conduent from a “neutral” rating to an “overweight” rating and set a $8.00 target price for the company in a report on Friday, August 9th. Cowen set a $8.00 target price on Conduent and gave the stock a “hold” rating in a report on Friday, August 9th. Zacks Investment Research raised Conduent from a “sell” rating to a “hold” rating in a report on Monday, October 14th. ValuEngine downgraded Conduent from a “hold” rating to a “sell” rating in a report on Friday. Finally, Needham & Company LLC set a $9.00 target price on Conduent and gave the stock a “buy” rating in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $10.08.

In related news, major shareholder Carl C. Icahn purchased 3,076,378 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $6.43 per share, with a total value of $19,781,110.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Carl C. Icahn purchased 1,941,101 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was bought at an average cost of $6.57 per share, with a total value of $12,753,033.57. The disclosure for this purchase can be found here. 0.92% of the stock is owned by insiders.

Conduent Company Profile

Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and Europe. It operates through three segments: Commercial Industries, Government Services, and Transportation. The Commercial Industries segment offers business process services and customized solutions to clients in various industries.

See Also: Net Asset Value

Earnings History for Conduent (NYSE:CNDT)

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