Concentrix (CNXC) Scheduled to Post Earnings on Wednesday

Concentrix (NASDAQ:CNXC) will be announcing its earnings results after the market closes on Wednesday, June 26th. Analysts expect the company to announce earnings of $2.34 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Concentrix (NASDAQ:CNXC) last released its earnings results on Tuesday, March 26th. The company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.03). The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.38 billion. Concentrix had a return on equity of 17.70% and a net margin of 3.53%. On average, analysts expect Concentrix to post $11 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Concentrix Trading Down 0.5 %

NASDAQ CNXC opened at $58.27 on Wednesday. The stock has a 50-day simple moving average of $59.92 and a 200 day simple moving average of $75.00. The company has a market capitalization of $3.85 billion, a PE ratio of 12.01, a P/E/G ratio of 0.68 and a beta of 0.60. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.23. Concentrix has a 12 month low of $53.89 and a 12 month high of $106.10.

Concentrix Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 7th. Shareholders of record on Friday, April 26th were issued a $0.303 dividend. This is an increase from Concentrix’s previous quarterly dividend of $0.30. This represents a $1.21 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Thursday, April 25th. Concentrix’s dividend payout ratio is 24.95%.

Insiders Place Their Bets

In other Concentrix news, CEO Christopher A. Caldwell acquired 900 shares of the stock in a transaction dated Friday, April 19th. The stock was purchased at an average cost of $54.59 per share, with a total value of $49,131.00. Following the transaction, the chief executive officer now owns 239,128 shares in the company, valued at approximately $13,053,997.52. The acquisition was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders have purchased 1,679 shares of company stock valued at $98,546. 3.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Barrington Research reduced their price objective on Concentrix from $121.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday, March 27th. Scotiabank lowered their target price on Concentrix from $120.00 to $85.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 29th. Finally, Bank of America restated an “underperform” rating and set a $60.00 price objective (down previously from $85.00) on shares of Concentrix in a research note on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Concentrix has an average rating of “Hold” and an average price target of $74.75.

About Concentrix

Concentrix Corporation engages in the provision of technology-infused customer experience (CX) solutions worldwide. The company provides CX process optimization, technology innovation, front- and back-office automation, analytics, and business transformation services, across various channels of communication, such as voice, chat, email, social media, asynchronous messaging, and custom applications.