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CVG

Convergys

$24.62

0.02 (0.08%)

16:15
08/07/18
08/07
16:15
08/07/18
16:15

Convergys still expects sequential revenue growth in Q3, Q4

The company said, "We delivered revenue, earnings, and cash flow in the second quarter consistent with our full-year expectations. Revenue decreases narrowed with our largest clients in the communications and technology industries, growth accelerated in the retail vertical, and we experienced strong new business signings that we expect to deliver $163 million in 2019 revenue. During the quarter, we took more actions to rationalize capacity and better align costs to revenues. Based on our solid execution year to date, we continue to anticipate sequential revenue growth and margin expansion in the third quarter and fourth quarter. We expect the sale to SYNNEX to create value for our shareholders, enhance capabilities for our clients, and expand opportunities for our employees. Integration planning has begun for the combination with Concentrix to create a premier global customer engagement services company driven by incredible talent, world-class delivery, and leading edge analytics and technology, and we look forward to a seamless transition."

CVG Convergys
$24.62

0.02 (0.08%)

10/17/17
BRRR
10/17/17
INITIATION
BRRR
Market Perform
Convergys initiated with a Market Perform at Barrington
Barrington analyst Vincent Colicchio started Convergys with a Market Perform rating saying the company, while well positioned for share gains, is fairly valued.
01/25/18
BARD
01/25/18
NO CHANGE
BARD
Baird expects Convergys to lower 2018 earnings guidance
05/16/18
BARD
05/16/18
NO CHANGE
BARD
Convergys could see $18-$21 range absent a deal, says Baird
Baird analyst David Koning commented on Covergys following a Dealreporter article that said the company is seeing limited interest from potential buyers. Koning believes Convergys shares could see $18-$21 near-term in the absence of a deal. The analyst remains cautious telling investors industry growth is challenged by Communications vertical and persistent wage pressures. The analyst maintains a Neutral rating and $22 price target on Convergys shares.
06/29/18
BRRR
06/29/18
NO CHANGE
BRRR
Market Perform
Higher bid for Convergys appears unlikely, says Barrington
After Convergys (CVG) announced that it agreed to be acquired by Synnex (SNX), Barrington analyst Vincent Colicchio said he believes the timing of the sale is poor given the meaningful weakness in the company's communications vertical over the past few years and that while the deal price appears low, a relatively low multiple at this point of time is warranted. Stating that he thinks a higher bid emerging does not appear highly likely, Colicchio maintains a Market Perform rating on Convergys shares.

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