Genpact (NYSE:G) Updates FY 2024 Earnings Guidance

Genpact (NYSE:G) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 3.010-3.040 for the period, compared to the consensus estimate of 3.010. The company issued revenue guidance of $4.6 billion-$4.6 billion, compared to the consensus revenue estimate of $4.6 billion. Genpact also updated its FY24 guidance to $3.01-3.04 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Mizuho started coverage on Genpact in a research report on Tuesday, January 30th. They issued a neutral rating and a $40.00 price target for the company. Needham & Company LLC restated a buy rating and issued a $40.00 price objective on shares of Genpact in a research report on Friday, February 9th. Citigroup decreased 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. JPMorgan Chase & Co. boosted 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. Finally, StockNews.com lowered Genpact from a strong-buy rating to a buy rating in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Genpact presently has a consensus rating of Hold and a consensus price target of $39.78.

Genpact Price Performance

Shares of G stock traded down $0.33 during mid-day trading on Thursday, hitting $32.05. The company had a trading volume of 1,994,977 shares, compared to its average volume of 1,540,036. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market capitalization of $5.78 billion, a P/E ratio of 9.34, a P/E/G ratio of 1.47 and a beta of 1.07. Genpact has a 52-week low of $29.41 and a 52-week high of $39.95. The stock’s 50 day moving average price is $32.38 and its 200-day moving average price is $33.85.

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

Genpact Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Investors 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 payout ratio is currently 17.78%.

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.