Concentrix (CNXC) to Release Earnings on Wednesday

Concentrix (NASDAQ:CNXC) will likely be issuing its quarterly earnings data before the market opens on Wednesday, March 26th. Analysts expect the company to announce earnings of $2.58 per share and revenue of $2.37 billion for the quarter. Parties that are interested in registering for the company’s 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 for the quarter, topping analysts’ consensus estimates of $3.01 by $0.25. The company had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. Concentrix’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.36 EPS.

Concentrix Stock Up 0.2 %

Concentrix stock opened at $45.00 on Tuesday. Concentrix has a 12 month low of $36.28 and a 12 month high of $77.00. The stock has a market capitalization of $2.90 billion, a PE ratio of 12.13, 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 business has a 50 day simple moving average of $47.64 and a 200-day simple moving average of $47.94.

Concentrix Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Friday, January 31st were given a dividend of $0.3328 per share. This represents a $1.33 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Friday, January 31st. Concentrix’s dividend payout ratio is presently 35.85%.

Analysts Set New Price Targets

A number of research firms have recently commented on CNXC. Canaccord Genuity Group cut their target price on shares of Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Barrington Research reduced their target price on Concentrix from $70.00 to $54.00 and set an “outperform” rating for the company in a report on Monday. 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 company’s stock. Based on data from MarketBeat, Concentrix has an average rating of “Buy” and an average price target of $71.80.

Insider Transactions at Concentrix

In other news, Director Kathryn Hayley acquired 500 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was purchased at an average cost of $50.22 per share, for a total transaction of $25,110.00. Following the completion of the transaction, the director now owns 3,034 shares in the company, valued at approximately $152,367.48. This trade represents a 19.73 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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.