Amdocs Limited (DOX) Expected to Announce Quarterly Sales of $1.03 Billion

Wall Street brokerages expect Amdocs Limited (NASDAQ:DOX) to announce $1.03 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Amdocs’ earnings, with estimates ranging from $1.02 billion to $1.03 billion. Amdocs posted sales of $1.00 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 3%. The business is scheduled to report its next earnings results on Tuesday, July 30th.

On average, analysts expect that Amdocs will report full year sales of $4.09 billion for the current fiscal year, with estimates ranging from $4.08 billion to $4.10 billion. For the next financial year, analysts anticipate that the company will post sales of $4.21 billion, with estimates ranging from $4.19 billion to $4.24 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Amdocs.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Tuesday, May 14th. The technology company reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.03. Amdocs had a return on equity of 15.18% and a net margin of 8.96%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the company posted $0.95 earnings per share. The company’s revenue was up 2.8% compared to the same quarter last year.

DOX has been the subject of a number of recent research reports. ValuEngine lowered Amdocs from a “hold” rating to a “sell” rating in a research note on Friday, February 15th. BidaskClub lowered Amdocs from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. JPMorgan Chase & Co. lowered their target price on Amdocs from $70.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, May 15th. Finally, Zacks Investment Research raised Amdocs from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Friday, May 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $71.40.

DOX stock traded down $0.26 during mid-day trading on Friday, hitting $60.49. 658,235 shares of the stock were exchanged, compared to its average volume of 1,117,098. Amdocs has a 12 month low of $52.60 and a 12 month high of $70.31. The firm has a market cap of $8.44 billion, a P/E ratio of 16.17, a price-to-earnings-growth ratio of 1.79 and a beta of 0.52.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, June 28th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Thursday, June 27th. Amdocs’s dividend payout ratio (DPR) is presently 30.48%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Morgan Dempsey Capital Management LLC bought a new position in Amdocs during the 4th quarter valued at approximately $25,000. Riverview Trust Co bought a new position in Amdocs during the 4th quarter valued at approximately $27,000. Cutler Group LP bought a new position in Amdocs during the 4th quarter valued at approximately $55,000. Oppenheimer Asset Management Inc. bought a new position in Amdocs during the 4th quarter valued at approximately $58,000. Finally, Meeder Asset Management Inc. raised its position in Amdocs by 47.8% during the 1st quarter. Meeder Asset Management Inc. now owns 1,057 shares of the technology company’s stock valued at $57,000 after purchasing an additional 342 shares during the last quarter. 90.86% of the stock is owned by institutional investors.

About Amdocs

Amdocs Limited, through its subsidiaries, provides software and services to the communications, pay TV, entertainment, and media industry service providers worldwide. The company offers amdocsONE a line of services designed for various stages of a service provider's lifecycle, including planning, delivery, implementation, and ongoing support, as well as consumer experience and monetization, media and digital, enterprise and connected society, service-driven network, and services and agile operation solutions.

See Also: Price-Sales Ratio

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Earnings History and Estimates for Amdocs (NASDAQ:DOX)

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