Cantor Fitzgerald reiterated their buy rating on shares of Genpact (NYSE:G) in a research report released on Wednesday. They currently have a $36.00 price target on the business services provider’s stock.
“. We maintain our Overweight rating and our 12-month PT of $36 on shares of G. Quarterly top-line results came in below expectations, but EPS beat estimates. GE (Not Covered) revenues saw growth as management stated it is starting to see GE stabilize. The company maintained revenue guidance for 2018 due to recent acquisitions. More importantly there is optimism around 2019 as global client growth is expected to improve and GE accelerate. We remain optimistic about the company due to the healthy demand backdrop for BPO and the increased client activity brought about by digital engagements.”,” the firm’s analyst wrote.
G has been the subject of a number of other research reports. JPMorgan Chase & Co. lowered shares of Genpact from a neutral rating to an underweight rating and set a $37.00 price target for the company. in a research note on Tuesday, August 14th. SunTrust Banks restated a buy rating and set a $37.00 price target on shares of Genpact in a research note on Thursday, August 9th. Finally, Zacks Investment Research lowered shares of Genpact from a buy rating to a hold rating in a research note on Monday, September 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $35.28.
Genpact (NYSE:G) last released its quarterly earnings data on Tuesday, November 6th. The business services provider reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. The company had revenue of $747.98 million during the quarter, compared to analyst estimates of $754.93 million. Genpact had a net margin of 9.31% and a return on equity of 21.95%. Genpact’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 EPS. On average, analysts anticipate that Genpact will post 1.56 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Monday, December 10th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, December 7th. This represents a $0.30 dividend on an annualized basis and a yield of 1.00%. Genpact’s dividend payout ratio (DPR) is presently 20.13%.
In other Genpact news, Director Carol Lindstrom sold 2,630 shares of the business’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $30.44, for a total transaction of $80,057.20. Following the completion of the sale, the director now owns 17,141 shares in the company, valued at approximately $521,772.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.41% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. First Hawaiian Bank purchased a new position in shares of Genpact in the 3rd quarter worth about $109,000. Fort L.P. purchased a new position in shares of Genpact in the 2nd quarter worth about $116,000. PNC Financial Services Group Inc. boosted its holdings in shares of Genpact by 108.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,887 shares of the business services provider’s stock worth $120,000 after buying an additional 2,026 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in shares of Genpact in the 2nd quarter worth about $130,000. Finally, SRS Capital Advisors Inc. boosted its holdings in shares of Genpact by 88.6% in the 2nd quarter. SRS Capital Advisors Inc. now owns 4,820 shares of the business services provider’s stock worth $139,000 after buying an additional 2,264 shares during the last quarter. Hedge funds and other institutional investors own 88.59% of the company’s stock.
Genpact Limited provides business process outsourcing and information technology (IT) services North and Latin America, India, rest of Asia, and Europe. Its finance and accounting services include accounts payable, such as document management, invoice processing, approval and resolution management, and travel and expense processing; over-the counter services, including customer master data management, credit and contract management, fulfillment, billing, collections, and dispute management services; record to report services comprising accounting, treasury, tax, product cost accounting, and closing and reporting services; enterprise performance management consisting of budgeting, forecasting, and business performance reporting; and enterprise risk and compliance services, including operational risks and controls.
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