Since the beginning of this year, Genpact (G) stock price has mostly shown a bearish market trend. In one year’s price analysis, G stock price dropped over 22% which further dropped over 21% in the last six months. However, last week Genpact released its second quarter (Q2) 2023 earrings results, G stock price has shown a 2.28% price surge.
G Stock Price Analysis
With the recent weekly price performance, G stock noted its recent closing at its 20-day moving average. While almost reaching its 50-day moving average after the earnings with the highest volume activity of over 3 Million last week. Weekly price analysis of G stock may have shown a bullish trend but near the weekend, G stock price stock lost $0.22 and marked closing at $37.18, on August 11, 2023, Friday.
With almost similar volume activity during last quarter’s report, G stock price is still trading near the same trading price. However, near the weekend bearish trend of G stock took its RSI downside which may show a bearish start in the upcoming week. However, if bears will continue their strength, then G stock price may drop slightly below its 20-day moving average.
Recent Quarter Report of Genpact Ltd
Genpact Limited (NYSE: G), an American professional services firm, has a market cap of nearly $6.74 Billion. Last week, the company released its Q2 2023 report that states its net income is $116.25 Million. G stock’s price-to-sales ratio is 1.58 whereas it has an Enterprise Value to EBITDA ratio of 11.24. G dividends are paid quarterly while the next dividend per share is expected to be $0.14 and as of today, the Dividend Yield (TTM)% is 1.41%.
According to the recent Q2 2023 report of Genpact, its earnings per share (EPS) is $0.72 whereas the estimation was $0.69 which accounts for a 4.81% surprise. The revenue for similar period amounts to $1.11 Billion whereas the estimation was $1.12 Billion. Now for the upcoming Q3 2023 results, the estimated EPS is $0.74, and revenue is expected to reach $1.17 Billion.
In the previous year, the revenue of Genpact Ltd. reached $4.37 Billion. Out of which, $1.65 Billion came from its highest performing source at the moment, “high tech and manufacturing”. Moreover, India has made the greatest contribution to the revenue figure that last year brought Genpact Ltd. $2.28 Billion.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/08/14/will-g-stock-price-change-its-path-after-recent-earnings/