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.
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.
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