Conduent (NASDAQ:CNDT) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Key Points

• Conduent missed quarterly earnings expectations: The company reported a loss of $0.18 per share, $0.01 below consensus, while revenue of $395 million fell well short of the $702 million estimate. Conduent also posted negative net margins and return on equity.
• The stock remains under pressure: Shares opened at $1.70, with a market capitalization of approximately $264 million and a price-to-earnings ratio of -1.67. The company has a debt-to-equity ratio of 1.09 and trades well below its one-year high of $2.98.
• Analyst sentiment is mixed but leans positive: Although one firm maintained a sell rating, other analysts upgraded Conduent to strong buy, giving the stock a consensus “Buy” rating. Institutional investors own 77.28% of the company.

Conduent (NASDAQ:CNDT - Get Free Report) posted its quarterly earnings data on Monday. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.01), FiscalAI reports. Conduent had a negative net margin of 5.04% and a negative return on equity of 7.08%. The firm had revenue of $395.00 million for the quarter, compared to the consensus estimate of $702.00 million.

Conduent Stock Performance

Shares of NASDAQ:CNDT opened at $1.70 on Monday. The firm's 50 day simple moving average is $1.52 and its 200-day simple moving average is $1.51. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.59 and a current ratio of 1.59. Conduent has a one year low of $1.15 and a one year high of $2.98. The firm has a market cap of $263.67 million, a PE ratio of -1.67 and a beta of 1.44.

Institutional Investors Weigh In On Conduent

A number of institutional investors and hedge funds have recently bought and sold shares of CNDT. Boothbay Fund Management LLC bought a new stake in shares of Conduent in the second quarter valued at about $29,000. IHT Wealth Management LLC bought a new position in shares of Conduent during the second quarter valued at approximately $34,000. Global Retirement Partners LLC increased its holdings in Conduent by 28,720.0% during the fourth quarter. Global Retirement Partners LLC now owns 14,410 shares of the company's stock valued at $28,000 after buying an additional 14,360 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in Conduent during the third quarter valued at approximately $42,000. Finally, CIBC Bancorp USA Inc. bought a new position in Conduent in the third quarter worth approximately $45,000. 77.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CNDT. Weiss Ratings reissued a "sell (d)" rating on shares of Conduent in a research report on Friday, July 17th. Noble Financial upgraded Conduent to a "strong-buy" rating in a research report on Tuesday, May 12th. Finally, Zacks Research raised Conduent from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 13th. Three research analysts have rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy".

About Conduent

Conduent Incorporated is a global provider of diversified business process services with a focus on delivering digital platforms and automation solutions. The company serves clients across a variety of industries including healthcare, transportation, public sector, financial services and human resources. By combining technology-enabled services with data analytics and artificial intelligence, Conduent helps organizations streamline operations, enhance customer experiences and improve overall efficiency.

Key offerings from Conduent encompass customer engagement and transaction processing, digital payment solutions, eligibility and enrollment services for health and welfare programs, and workforce management tools.

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