Concentrix (NASDAQ:CNXC) Updates Q4 2024 Earnings Guidance

Concentrix (NASDAQ:CNXC) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 2.900-3.160 for the period, compared to the consensus earnings per share estimate of 3.480. The company issued revenue guidance of $2.4 billion-$2.5 billion, compared to the consensus revenue estimate of $2.5 billion. Concentrix also updated its FY 2024 guidance to 11.050-11.310 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Bank of America raised shares of Concentrix from an underperform rating to a neutral rating and increased their target price for the company from $65.00 to $85.00 in a research note on Wednesday, August 28th. Canaccord Genuity Group restated a buy rating and issued a $125.00 price target on shares of Concentrix in a report on Thursday, June 27th. Finally, Barrington Research restated an outperform rating and issued a $84.00 price target on shares of Concentrix in a report on Friday, September 20th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $94.75.

Concentrix Stock Down 0.3 %

Shares of NASDAQ:CNXC opened at $63.62 on Thursday. The company has a quick ratio of 1.56, a current ratio of 1.54 and a debt-to-equity ratio of 1.21. Concentrix has a fifty-two week low of $53.89 and a fifty-two week high of $106.10. The firm’s 50 day moving average price is $67.93 and its 200 day moving average price is $63.76. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 0.67 and a beta of 0.61.

Concentrix (NASDAQ:CNXC) last issued its earnings results on Wednesday, June 26th. The company reported $2.69 EPS for the quarter, topping the consensus estimate of $2.63 by $0.06. Concentrix had a net margin of 3.08% and a return on equity of 17.00%. The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the firm earned $2.50 EPS. The business’s revenue was up 47.4% on a year-over-year basis. As a group, equities research analysts predict that Concentrix will post 10.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Concentrix

In other news, EVP Cormac J. Twomey sold 400 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $67.23, for a total transaction of $26,892.00. Following the completion of the sale, the executive vice president now owns 29,727 shares in the company, valued at approximately $1,998,546.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 1,200 shares of company stock worth $82,028 in the last 90 days. 3.00% of the stock is owned by company insiders.

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.