Concentrix (NASDAQ:CNXC – Get Free Report) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $2.76-3.04 for the period, compared to the consensus EPS 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 FY24 guidance to $11.40-12.07 EPS.
Concentrix Price Performance
NASDAQ:CNXC traded down $0.80 on Wednesday, reaching $58.02. The stock had a trading volume of 784,337 shares, compared to its average volume of 507,089. The stock has a fifty day moving average price of $60.01 and a 200-day moving average price of $73.73. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $3.83 billion, a P/E ratio of 12.05, a price-to-earnings-growth ratio of 0.69 and a beta of 0.60. Concentrix has a 1-year low of $53.89 and a 1-year high of $106.10.
Concentrix (NASDAQ:CNXC – Get Free Report) last posted its quarterly earnings results on Tuesday, March 26th. The company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.03). The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.38 billion. Concentrix had a return on equity of 17.70% and a net margin of 3.53%. Research analysts forecast that Concentrix will post 11.03 EPS for the current year.
Analysts Set New Price Targets
Check Out Our Latest Research Report on CNXC
Insider Activity
In related news, CEO Christopher A. Caldwell bought 900 shares of the company’s stock in a transaction dated Friday, April 19th. The stock was purchased at an average price of $54.59 per share, with a total value of $49,131.00. Following the completion of the acquisition, the chief executive officer now owns 239,128 shares of the company’s stock, valued at $13,053,997.52. The purchase was disclosed in a document filed with the SEC, which is available through this link. In the last quarter, insiders have acquired 1,679 shares of company stock worth $98,546. Insiders own 3.00% of the company’s stock.
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.
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