CI&T (NYSE:CINT) Issues Earnings Results, Misses Expectations By $0.02 EPS

CI&T (NYSE:CINT) posted its earnings results on Wednesday. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.02), Zacks reports. CI&T had a net margin of 6.79% and a return on equity of 11.69%.

CI&T Trading Up 3.6%

NYSE CINT traded up $0.12 during trading hours on Wednesday, hitting $3.34. 95,233 shares of the company’s stock were exchanged, compared to its average volume of 122,805. The business’s 50 day moving average is $3.13 and its 200-day moving average is $3.92. CI&T has a 12-month low of $2.80 and a 12-month high of $5.80. The firm has a market capitalization of $449.09 million, a P/E ratio of 11.51 and a beta of 0.82. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.31 and a current ratio of 1.31.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. TD Cowen reduced their price target on shares of CI&T from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Zacks Research lowered CI&T from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 22nd. UBS Group lowered their price target on shares of CI&T from $7.20 to $6.20 and set a “buy” rating for the company in a report on Wednesday, August 12th. JPMorgan Chase & Co. lowered their target price on shares of CI&T from $6.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, August 12th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of CI&T in a report on Friday, September 25th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.08.

Insider Buying and Selling

In related news, Director Fernando Matt Borges Martins acquired 9,116 shares of the company’s stock in a transaction dated Wednesday, October 7th. The stock was bought at an average price of $3.12 per share, with a total value of $28,441.92. Following the purchase, the director directly owned 20 shares in the company, valued at $62.40. The trade was a -100.22% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders bought 41,105 shares of company stock valued at $127,888.

About CI&T

CI&T is a global technology and digital transformation company that helps organizations develop and improve digital products, services and operations. Its offerings include technology consulting, product design, software development, data and artificial intelligence solutions, cloud services and modernization of existing systems. Founded in Brazil in 1995, the company serves clients across multiple industries and geographies, including North America, Latin America and Europe. CI&T works with organizations on initiatives ranging from digital strategy and customer experiences to the design and implementation of technology platforms.