Genpact (NYSE:G) Updates FY24 Earnings Guidance

Genpact (NYSE:G) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $3.01-3.04 for the period, compared to the consensus earnings per share estimate of $3.01. The company issued revenue guidance of $4.59-4.63 billion, compared to the consensus revenue estimate of $4.59 billion. Genpact also updated its FY 2024 guidance to 3.010-3.040 EPS.

Genpact Stock Down 1.1 %

G opened at $32.04 on Friday. Genpact has a 52 week low of $29.41 and a 52 week high of $39.95. The company has a market capitalization of $5.78 billion, a PE ratio of 9.34, a price-to-earnings-growth ratio of 1.47 and a beta of 1.07. The firm has a 50-day simple moving average of $32.34 and a two-hundred day simple moving average of $33.84. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.37.

Genpact (NYSE:G) last posted its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Genpact had a return on equity of 23.19% and a net margin of 14.10%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.12 billion. Analysts forecast that Genpact will post 2.7 earnings per share for the current fiscal year.

Genpact Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Monday, June 10th will be issued a $0.153 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.61 annualized dividend and a dividend yield of 1.91%. Genpact’s dividend payout ratio is currently 17.78%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on G shares. Needham & Company LLC restated a buy rating and set a $40.00 target price on shares of Genpact in a report on Friday, February 9th. StockNews.com lowered Genpact from a strong-buy rating to a buy rating in a research note on Friday, April 5th. JPMorgan Chase & Co. increased their price target on shares of Genpact from $42.00 to $43.00 and gave the company an underweight rating in a research report on Friday, February 9th. Mizuho began coverage on shares of Genpact in a research note on Tuesday, January 30th. They set a neutral rating and a $40.00 price objective for the company. Finally, Citigroup cut their price target 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Genpact has a consensus rating of Hold and an average target price of $39.78.

About Genpact

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.