Sidoti Csr Has Positive Outlook of Conduent FY2024 Earnings

Conduent Incorporated (NASDAQ:CNDT) – Sidoti Csr upped their FY2024 earnings per share (EPS) estimates for Conduent in a note issued to investors on Thursday, November 7th. Sidoti Csr analyst M. Riddick now expects that the company will post earnings of ($0.45) per share for the year, up from their prior forecast of ($0.53). The consensus estimate for Conduent’s current full-year earnings is ($0.45) per share. Sidoti Csr also issued estimates for Conduent’s Q4 2024 earnings at ($0.09) EPS, Q1 2025 earnings at ($0.08) EPS, Q2 2025 earnings at ($0.06) EPS, Q3 2025 earnings at $0.01 EPS, Q4 2025 earnings at $0.11 EPS and FY2025 earnings at ($0.02) EPS.

Conduent (NASDAQ:CNDT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.01. Conduent had a negative return on equity of 7.94% and a net margin of 12.65%. The firm had revenue of $807.00 million for the quarter, compared to the consensus estimate of $817.33 million. During the same quarter in the previous year, the business earned ($0.09) EPS. The company’s quarterly revenue was down 13.4% compared to the same quarter last year.

Conduent Stock Down 0.5 %

Shares of CNDT opened at $4.27 on Monday. The company’s 50-day simple moving average is $3.86 and its 200-day simple moving average is $3.66. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.65 and a current ratio of 1.75. Conduent has a 1 year low of $2.46 and a 1 year high of $4.38. The stock has a market capitalization of $682.73 million, a PE ratio of 1.88 and a beta of 1.48.

Institutional Investors Weigh In On Conduent

Large investors have recently added to or reduced their stakes in the business. Factorial Partners LLC acquired a new position in shares of Conduent in the second quarter worth $3,295,000. Ancora Advisors LLC purchased a new stake in Conduent during the 1st quarter worth about $1,957,000. Renaissance Technologies LLC raised its position in Conduent by 27.7% in the 2nd quarter. Renaissance Technologies LLC now owns 2,393,900 shares of the company’s stock valued at $7,804,000 after purchasing an additional 520,000 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in Conduent by 198.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 763,916 shares of the company’s stock valued at $2,582,000 after purchasing an additional 508,012 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its stake in shares of Conduent by 25.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 970,758 shares of the company’s stock valued at $3,165,000 after buying an additional 194,250 shares during the period. 77.28% of the stock is owned by hedge funds and other institutional investors.

About Conduent

Conduent Incorporated provides digital business solutions and services for the commercial, government, and transportation spectrum in the United States, Europe, and internationally. It operates through three segments: Commercial, Government Services, and Transportation. The Commercial segment offers business process services and customized solutions to clients in various industries; and customer experience management, business operations, healthcare claims and administration, and human capital solutions.