$0.45 EPS Expected for Convergys Corp (CVG) This Quarter

Wall Street analysts predict that Convergys Corp (NYSE:CVG) will post earnings of $0.45 per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Convergys’ earnings. The lowest EPS estimate is $0.44 and the highest is $0.46. Convergys posted earnings of $0.47 per share during the same quarter last year, which suggests a negative year over year growth rate of 4.3%. The business is expected to report its next quarterly earnings results on Wednesday, February 28th.

According to Zacks, analysts expect that Convergys will report full year earnings of $1.85 per share for the current financial year, with EPS estimates ranging from $1.84 to $1.86. For the next fiscal year, analysts anticipate that the company will report earnings of $1.84 per share, with EPS estimates ranging from $1.74 to $1.89. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Convergys.

Convergys (NYSE:CVG) last issued its earnings results on Tuesday, November 7th. The business services provider reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.02). The firm had revenue of $688.30 million during the quarter, compared to analysts’ expectations of $692.34 million. Convergys had a net margin of 4.54% and a return on equity of 13.92%. Convergys’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 EPS.

Several equities research analysts have commented on CVG shares. Robert W. Baird restated a “hold” rating on shares of Convergys in a research report on Sunday, September 17th. SunTrust Banks restated a “hold” rating and issued a $26.00 price objective on shares of Convergys in a research report on Monday, October 9th. Barrington Research started coverage on Convergys in a research report on Tuesday, October 17th. They issued a “market perform” rating on the stock. Citigroup lowered their price objective on Convergys from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, November 10th. Finally, Zacks Investment Research lowered Convergys from a “hold” rating to a “sell” rating in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. Convergys currently has an average rating of “Hold” and a consensus target price of $26.00.

In other news, CEO Andrea J. Ayers sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $24.15, for a total transaction of $724,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey H. Fox sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $23.77, for a total value of $594,250.00. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in Convergys by 0.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 37,296 shares of the business services provider’s stock valued at $886,000 after purchasing an additional 112 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its stake in Convergys by 2.4% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 16,664 shares of the business services provider’s stock valued at $417,000 after purchasing an additional 385 shares during the last quarter. Arizona State Retirement System raised its stake in Convergys by 1.0% in the 2nd quarter. Arizona State Retirement System now owns 39,700 shares of the business services provider’s stock valued at $944,000 after purchasing an additional 400 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in Convergys by 1.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 36,097 shares of the business services provider’s stock valued at $858,000 after purchasing an additional 567 shares during the last quarter. Finally, Virginia Retirement Systems ET AL raised its stake in Convergys by 2.6% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 27,200 shares of the business services provider’s stock valued at $647,000 after purchasing an additional 700 shares during the last quarter. 98.72% of the stock is owned by institutional investors and hedge funds.

Convergys (CVG) traded down $0.31 during trading on Friday, reaching $23.83. The company’s stock had a trading volume of 464,393 shares, compared to its average volume of 1,009,159. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.25. Convergys has a 1-year low of $20.15 and a 1-year high of $26.66. The stock has a market cap of $2,230.83, a price-to-earnings ratio of 18.33, a PEG ratio of 1.45 and a beta of 1.07.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 22nd will be given a $0.10 dividend. The ex-dividend date is Thursday, December 21st. This represents a $0.40 annualized dividend and a yield of 1.68%. Convergys’s dividend payout ratio is presently 30.77%.

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Convergys Company Profile

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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Earnings History and Estimates for Convergys (NYSE:CVG)

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