Cantor Fitzgerald Has Negative View of CSGS FY2024 Earnings

CSG Systems International, Inc. (NASDAQ:CSGS - Free Report) - Investment analysts at Cantor Fitzgerald cut their FY2024 earnings per share estimates for CSG Systems International in a research note issued on Tuesday, January 14th. Cantor Fitzgerald analyst B. Knoblauch now anticipates that the technology company will post earnings per share of $3.34 for the year, down from their previous estimate of $3.54. The consensus estimate for CSG Systems International's current full-year earnings is $3.47 per share.

A number of other equities research analysts have also recently commented on the company. StockNews.com upgraded CSG Systems International from a "buy" rating to a "strong-buy" rating in a research report on Monday. Royal Bank of Canada raised their price objective on CSG Systems International from $52.00 to $58.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Benchmark reaffirmed a "buy" rating and set a $75.00 target price on shares of CSG Systems International in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company lifted their price target on shares of CSG Systems International from $43.00 to $51.00 and gave the company an "equal weight" rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $62.00.

CSG Systems International Stock Performance

CSGS traded up $0.53 on Thursday, reaching $52.08. The stock had a trading volume of 193,959 shares, compared to its average volume of 190,616. The business's 50-day moving average price is $53.11 and its two-hundred day moving average price is $48.73. The company has a market cap of $1.52 billion, a P/E ratio of 22.94, a price-to-earnings-growth ratio of 1.36 and a beta of 0.88. CSG Systems International has a 12-month low of $39.56 and a 12-month high of $57.15. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.84.

CSG Systems International (NASDAQ:CSGS - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The technology company reported $1.06 EPS for the quarter, hitting analysts' consensus estimates of $1.06. CSG Systems International had a net margin of 5.52% and a return on equity of 32.77%. The business had revenue of $295.14 million for the quarter, compared to analysts' expectations of $283.13 million. During the same quarter last year, the company earned $0.74 EPS. The business's revenue was up 2.9% on a year-over-year basis.

CSG Systems International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Wednesday, December 18th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.30%. CSG Systems International's payout ratio is currently 52.86%.

Hedge Funds Weigh In On CSG Systems International

Several hedge funds and other institutional investors have recently made changes to their positions in CSGS. Central Pacific Bank Trust Division raised its stake in CSG Systems International by 20.3% in the 3rd quarter. Central Pacific Bank Trust Division now owns 3,611 shares of the technology company's stock valued at $176,000 after purchasing an additional 610 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of CSG Systems International during the third quarter worth $840,000. Cornercap Investment Counsel Inc. raised its position in shares of CSG Systems International by 39.8% in the third quarter. Cornercap Investment Counsel Inc. now owns 10,538 shares of the technology company's stock valued at $513,000 after buying an additional 3,001 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of CSG Systems International in the third quarter worth about $294,000. Finally, Martingale Asset Management L P acquired a new position in CSG Systems International during the third quarter worth about $866,000. Hedge funds and other institutional investors own 91.07% of the company's stock.

About CSG Systems International

CSG Systems International, Inc, together with its subsidiaries, provides revenue management and digital monetization, customer experience, and payment solutions primarily to the communications industry in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers Advanced Convergent Platform, a private SaaS platform; and related solutions, including service technician management, analytics, electronic bill presentment, etc.