Concentrix (NASDAQ:CNXC) Updates Q3 Earnings Guidance

Concentrix (NASDAQ:CNXC) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $2.76-3.04 for the period, compared to the consensus earnings per share estimate of $3.22. The company issued revenue guidance of $2.35-2.40 billion, compared to the consensus revenue estimate of $2.39 billion. Concentrix also updated its FY 2024 guidance to 11.400-12.070 EPS.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Barrington Research restated an outperform rating and issued a $84.00 price objective on shares of Concentrix in a report on Friday, June 21st. Bank of America restated an underperform rating and issued a $60.00 price objective (down previously from $85.00) on shares of Concentrix in a report on Wednesday, March 27th. Scotiabank decreased their price target on shares of Concentrix from $120.00 to $85.00 and set a sector outperform rating for the company in a research note on Monday, April 29th. Finally, Canaccord Genuity Group reiterated a buy rating and issued a $125.00 price target on shares of Concentrix in a research note on Thursday. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Concentrix currently has a consensus rating of Hold and a consensus target price of $84.80.

Concentrix Stock Up 0.8 %

Shares of NASDAQ:CNXC opened at $63.28 on Friday. The company has a market capitalization of $4.18 billion, a PE ratio of 14.65, a P/E/G ratio of 0.73 and a beta of 0.60. The company has a current ratio of 1.54, a quick ratio of 1.56 and a debt-to-equity ratio of 1.21. Concentrix has a twelve month low of $53.89 and a twelve month high of $106.10. The firm has a 50 day simple moving average of $60.39 and a 200-day simple moving average of $73.33.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings data on Tuesday, March 26th. The company reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.03). The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Concentrix had a return on equity of 17.00% and a net margin of 3.08%. On average, equities analysts predict that Concentrix will post 11.03 EPS for the current fiscal year.

Concentrix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 6th. Stockholders of record on Friday, July 26th will be issued a $0.303 dividend. The ex-dividend date is Friday, July 26th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 1.92%. Concentrix’s payout ratio is 28.01%.

Insider Activity

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

Concentrix Company Profile

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.