Concentrix (CNXC) Expected to Announce Earnings on Wednesday

Concentrix (NASDAQ:CNXC) will likely be releasing its earnings data before the market opens on Wednesday, March 26th. Analysts expect Concentrix to post earnings of $2.58 per share and revenue of $2.37 billion for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings results on Wednesday, January 15th. The company reported $3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.01 by $0.25. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the previous year, the firm posted $3.36 EPS. The firm’s quarterly revenue was up 9.7% on a year-over-year basis.

Concentrix Stock Performance

Concentrix stock opened at $46.24 on Wednesday. Concentrix has a 12-month low of $36.28 and a 12-month high of $77.00. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 0.63 and a beta of 0.69. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42. The firm’s fifty day moving average price is $47.68 and its 200 day moving average price is $48.77.

Concentrix Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Friday, January 31st were paid a dividend of $0.3328 per share. This represents a $1.33 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend was Friday, January 31st. Concentrix’s dividend payout ratio (DPR) is 35.85%.

Insider Transactions at Concentrix

In other news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $55.60, for a total value of $27,800.00. Following the completion of the transaction, the executive vice president now directly owns 41,111 shares of the company’s stock, valued at approximately $2,285,771.60. The trade was a 1.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Separately, Canaccord Genuity Group dropped their target price on shares of Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $75.00.

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.