Concentrix (NASDAQ:CNXC) Posts Quarterly Earnings Results, Beats Estimates By $0.21 EPS

Concentrix (NASDAQ:CNXC) released its earnings results on Wednesday. The company reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.21, Briefing.com reports. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.57 EPS.

Concentrix Stock Performance

Shares of CNXC opened at $65.04 on Friday. Concentrix has a 12 month low of $36.28 and a 12 month high of $77.00. The business’s fifty day simple moving average is $47.90 and its two-hundred day simple moving average is $47.85. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 0.63 and a beta of 0.69.

Concentrix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, April 25th will be given a $0.3328 dividend. The ex-dividend date is Friday, April 25th. This represents a $1.33 annualized dividend and a yield of 2.05%. Concentrix’s dividend payout ratio (DPR) is presently 35.85%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CNXC shares. Canaccord Genuity Group reduced their target price on shares of Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Barrington Research dropped their price objective on shares of Concentrix from $70.00 to $54.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Bank of America raised their target price on shares of Concentrix from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $69.60.

Insider Activity

In related news, Director Kathryn Hayley bought 500 shares of the stock in a transaction on Wednesday, January 22nd. The shares were acquired at an average price of $50.22 per share, for a total transaction of $25,110.00. Following the purchase, the director now owns 3,034 shares of the company’s stock, valued at approximately $152,367.48. The trade was a 19.73 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.20% of the company’s stock.

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.