Amdocs (NASDAQ:DOX) Issues FY24 Earnings Guidance

Amdocs (NASDAQ:DOX) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $6.32-6.56 for the period, compared to the consensus estimate of $6.50. The company issued revenue guidance of ~$4.96-5.06 billion, compared to the consensus revenue estimate of $5.04 billion. Amdocs also updated its FY 2024 guidance to 6.320-6.560 EPS.

Amdocs Stock Performance

DOX traded up $0.86 during trading on Wednesday, hitting $85.91. The stock had a trading volume of 743,750 shares, compared to its average volume of 660,316. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.21. Amdocs has a 12 month low of $78.38 and a 12 month high of $99.75. The company has a 50 day simple moving average of $88.59 and a 200-day simple moving average of $87.52. The firm has a market cap of $10.10 billion, a PE ratio of 18.40, a P/E/G ratio of 1.36 and a beta of 0.70.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.16. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Amdocs had a return on equity of 17.79% and a net margin of 11.30%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.33 EPS. Analysts expect that Amdocs will post 5.87 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on DOX shares. StockNews.com downgraded shares of Amdocs from a strong-buy rating to a buy rating in a report on Friday, March 15th. Citigroup boosted their price target on Amdocs from $96.00 to $104.00 and gave the company a buy rating in a research note on Wednesday, January 17th. Finally, Barclays lifted their price objective on Amdocs from $105.00 to $115.00 and gave the stock an overweight rating in a report on Thursday, February 8th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of Buy and a consensus price target of $108.60.

About Amdocs

Amdocs Limited, through its subsidiaries, provides software and services worldwide. It designs, develops, operates, implements, supports, and markets open and modular cloud portfolio. The company provides CES23, a 5G and cloud-native microservices-based market-leading customer experience suite, that enables service providers to build, deliver, and monetize advanced services; Amdocs Subscription Marketplace, a software-as-a-service-based platform that includes an expansive network of pre-integrated digital services, such as media, gaming, eLearning, sports, and retail to security and business services; the monetization suite for charging, billing, policy, and revenue management; Intelligent networking suite with a set of modular, flexible, and open service lifecycle management capabilities for network automation journeys; amAIz, a telco GenAI framework; Amdocs Digital Brands Suite, a pre-integrated digital business suite; and Amdocs eSIM Cloud for service providers.