Genpact (NYSE:G) Updates FY 2024 Earnings Guidance

Genpact (NYSE:G) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 3.140-3.180 for the period, compared to the consensus EPS estimate of 3.030. The company issued revenue guidance of $4.7 billion-$4.7 billion, compared to the consensus revenue estimate of $4.6 billion. Genpact also updated its Q3 2024 guidance to EPS.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on G. TD Cowen lifted their price target on Genpact from $35.00 to $36.00 and gave the company a hold rating in a research report on Friday. BMO Capital Markets dropped their price target on shares of Genpact from $39.00 to $38.00 and set a market perform rating on the stock in a research report on Friday, May 10th. Wedbush restated a neutral rating and set a $35.00 price objective on shares of Genpact in a research report on Friday, May 10th. Citigroup dropped their target price on shares of Genpact from $36.00 to $33.00 and set a neutral rating on the stock in a report on Monday, April 22nd. Finally, JPMorgan Chase & Co. raised shares of Genpact from an underweight rating to a neutral rating and cut their target price for the company from $43.00 to $40.00 in a research note on Wednesday, July 17th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $37.67.

Genpact Trading Up 15.7 %

Shares of NYSE:G traded up $5.10 during mid-day trading on Friday, hitting $37.50. The stock had a trading volume of 2,566,574 shares, compared to its average volume of 1,413,897. Genpact has a 12-month low of $29.41 and a 12-month high of $38.51. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.54 and a current ratio of 1.54. The company has a market cap of $6.75 billion, a PE ratio of 10.71, a P/E/G ratio of 1.60 and a beta of 1.11. The company’s 50 day moving average is $32.69 and its 200-day moving average is $33.28.

Genpact (NYSE:G) last released its earnings results on Thursday, May 9th. The business services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. Genpact had a return on equity of 22.71% and a net margin of 14.21%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. On average, sell-side analysts predict that Genpact will post 2.7 EPS for the current year.

Genpact Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th will be paid a $0.1525 dividend. This represents a $0.61 annualized dividend and a yield of 1.63%. The ex-dividend date is Wednesday, September 11th. Genpact’s dividend payout ratio is currently 17.43%.

Insider Buying and Selling at Genpact

In related news, Director N. V. Tyagarajan sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $33.17, for a total transaction of $33,170.00. Following the transaction, the director now directly owns 7,300 shares of the company’s stock, valued at $242,141. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.80% of the company’s stock.

Genpact Company Profile

Genpact Limited provides business process outsourcing and information technology services in India, rest of Asia, North and Latin America, and Europe. It operates through three segments: Financial services; Consumer and Healthcare; and High Tech and Manufacturing. The Financial Services segment offers retail customer onboarding, customer service, collections, card servicing operations, loan and payment operations, commercial loan, equipment and auto loan, mortgage origination, compliance services, reporting and monitoring, and wealth management operations support; financial crime and risk management services; and underwriting support, new business processing, policy administration, claims management, catastrophe modeling and actuarial services, as well as property and casualty claims.