Conduent Incorporated (NASDAQ:CNDT) Expected to Post Q3 2024 Earnings of ($0.22) Per Share

Conduent Incorporated (NASDAQ:CNDT) – Investment analysts at Sidoti Csr lowered their Q3 2024 earnings per share estimates for shares of Conduent in a research report issued to clients and investors on Tuesday, June 11th. Sidoti Csr analyst M. Riddick now forecasts that the company will post earnings per share of ($0.22) for the quarter, down from their prior forecast of ($0.18). The consensus estimate for Conduent’s current full-year earnings is ($0.72) per share. Sidoti Csr also issued estimates for Conduent’s Q4 2024 earnings at ($0.16) EPS, FY2024 earnings at ($0.72) EPS, Q1 2025 earnings at ($0.14) EPS, Q2 2025 earnings at ($0.17) EPS, Q3 2025 earnings at ($0.08) EPS and FY2025 earnings at ($0.34) EPS.

Conduent (NASDAQ:CNDT) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.06. Conduent had a negative return on equity of 2.50% and a negative net margin of 5.13%. The firm had revenue of $921.00 million for the quarter, compared to the consensus estimate of $896.00 million.

Several other research firms have also recently commented on CNDT. StockNews.com cut Conduent from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. Noble Financial began coverage on Conduent in a report on Thursday, March 14th. They set an “outperform” rating and a $9.00 price objective for the company.

Conduent Stock Down 2.5 %

Conduent stock opened at $3.07 on Thursday. Conduent has a twelve month low of $2.40 and a twelve month high of $4.08. The stock has a 50 day moving average of $3.45 and a two-hundred day moving average of $3.44. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of $628.06 million, a price-to-earnings ratio of -3.41 and a beta of 1.53.

Institutional Investors Weigh In On Conduent

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Guardian Capital LP acquired a new position in Conduent in the first quarter valued at $34,000. Dynamic Advisor Solutions LLC bought a new stake in Conduent in the fourth quarter valued at about $36,000. NewEdge Wealth LLC bought a new stake in Conduent in the fourth quarter valued at about $48,000. Vestmark Advisory Solutions Inc. bought a new stake in Conduent in the fourth quarter valued at about $48,000. Finally, Headlands Technologies LLC increased its holdings in Conduent by 1,084.3% in the first quarter. Headlands Technologies LLC now owns 14,366 shares of the company’s stock valued at $49,000 after buying an additional 13,153 shares during the last quarter. Hedge funds and other institutional investors own 77.28% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Carl C. Icahn sold 38,149,336 shares of Conduent stock in a transaction on Saturday, June 8th. The stock was sold at an average price of $3.47, for a total value of $132,378,195.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.84% of the stock is currently owned by company insiders.

Conduent Company Profile

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.