What is Sidoti Csr’s Forecast for Conduent FY2024 Earnings?

Conduent Incorporated (NASDAQ:CNDT) – Equities researchers at Sidoti Csr raised their FY2024 earnings per share (EPS) estimates for Conduent in a research note issued to investors on Thursday, November 7th. Sidoti Csr analyst M. Riddick now forecasts that the company will earn ($0.45) per share for the year, up from their previous 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 Stock Performance

Shares of Conduent stock opened at $4.27 on Monday. The company has a quick ratio of 1.65, a current ratio of 1.75 and a debt-to-equity ratio of 0.81. Conduent has a 52 week low of $2.46 and a 52 week high of $4.38. The firm’s 50 day moving average is $3.86 and its two-hundred day moving average is $3.66. The firm has a market capitalization of $682.73 million, a P/E ratio of 1.88 and a beta of 1.48.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Guardian Capital LP purchased a new stake in Conduent in the first quarter valued at $34,000. HTG Investment Advisors Inc. purchased a new stake in shares of Conduent in the 2nd quarter valued at about $37,000. Headlands Technologies LLC boosted its position in shares of Conduent by 1,084.3% in the 1st quarter. Headlands Technologies LLC now owns 14,366 shares of the company’s stock valued at $49,000 after purchasing an additional 13,153 shares during the period. Algert Global LLC purchased a new position in Conduent during the 2nd quarter worth approximately $52,000. Finally, Williams & Novak LLC acquired a new position in Conduent during the second quarter worth approximately $65,000. 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.