Wedbush Weighs in on Genpact Limited’s Q3 2017 Earnings (G)
Genpact Limited (NYSE:G) – Equities research analysts at Wedbush dropped their Q3 2017 EPS estimates for Genpact Limited in a research report issued on Tuesday. Wedbush analyst M. Katri now expects that the business services provider will post earnings per share of $0.35 for the quarter, down from their previous forecast of $0.37. Wedbush currently has a “Outperform” rating and a $33.00 price target on the stock. Wedbush also issued estimates for Genpact Limited’s Q4 2017 earnings at $0.38 EPS and FY2017 earnings at $1.41 EPS.
A number of other equities research analysts have also recently commented on G. BidaskClub raised Genpact Limited from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 28th. Zacks Investment Research cut Genpact Limited from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Deutsche Bank AG raised their price objective on Genpact Limited from $26.00 to $28.00 and gave the company a “hold” rating in a research note on Thursday, August 3rd. BMO Capital Markets raised their price objective on Genpact Limited from $26.00 to $30.00 and gave the company a “market perform” rating in a research note on Thursday, August 3rd. Finally, Cowen and Company reissued an “outperform” rating and issued a $33.00 price objective (up previously from $30.00) on shares of Genpact Limited in a research note on Thursday, August 3rd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $32.38.
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Genpact Limited (NYSE G) opened at 29.69 on Thursday. Genpact Limited has a 12-month low of $22.62 and a 12-month high of $31.93. The stock’s 50 day moving average price is $28.76 and its 200 day moving average price is $27.46. The company has a market cap of $5.73 billion, a PE ratio of 22.42 and a beta of 0.53.
Genpact Limited (NYSE:G) last released its quarterly earnings data on Wednesday, August 2nd. The business services provider reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.10. Genpact Limited had a return on equity of 23.33% and a net margin of 10.22%. The business had revenue of $670.70 million for the quarter, compared to analysts’ expectations of $642.68 million. During the same quarter in the previous year, the business posted $0.36 EPS. Genpact Limited’s revenue for the quarter was up 6.4% on a year-over-year basis.
The company also recently disclosed a special dividend, which was paid on Thursday, September 21st. Shareholders of record on Friday, September 8th were paid a $0.06 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a yield of 0.84%. Genpact Limited’s dividend payout ratio (DPR) is presently 18.05%.
In other news, major shareholder Bain Capital Investors Llc sold 8,498,874 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $28.72, for a total value of $244,087,661.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mohit Thukral sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $28.37, for a total value of $709,250.00. Following the completion of the transaction, the insider now owns 85,305 shares in the company, valued at approximately $2,420,102.85. The disclosure for this sale can be found here. Insiders sold 10,358,442 shares of company stock valued at $297,475,276 in the last three months. Insiders own 1.41% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. YorkBridge Wealth Partners LLC lifted its holdings in shares of Genpact Limited by 5.2% in the second quarter. YorkBridge Wealth Partners LLC now owns 3,793 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 189 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Genpact Limited in the first quarter valued at approximately $110,000. Acrospire Investment Management LLC lifted its holdings in shares of Genpact Limited by 569.8% in the second quarter. Acrospire Investment Management LLC now owns 4,019 shares of the business services provider’s stock valued at $112,000 after purchasing an additional 3,419 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Genpact Limited in the third quarter valued at approximately $128,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Genpact Limited by 85.3% in the first quarter. BNP Paribas Arbitrage SA now owns 5,220 shares of the business services provider’s stock valued at $129,000 after purchasing an additional 2,403 shares in the last quarter. Institutional investors own 92.16% of the company’s stock.
About Genpact Limited
Genpact Limited is engaged in providing digitally powered business process management and services. The Company is also engaged in designing, transforming and running a combination of processes, as well as providing solutions that combine elements of its service offerings. The Company’s segments include Business process outsourcing and Information technology services.
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