Concentrix (NASDAQ:CNXC) Issues Quarterly Earnings Results

Concentrix (NASDAQ:CNXC) announced its quarterly earnings results on Wednesday. The company reported $2.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.06), Briefing.com reports. Concentrix had a net margin of 3.08% and a return on equity of 17.00%. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period last year, the firm posted $2.54 EPS. The business’s revenue was up 46.2% compared to the same quarter last year.

Concentrix Price Performance

Shares of NASDAQ:CNXC opened at $51.56 on Friday. Concentrix has a 12-month low of $50.23 and a 12-month high of $106.10. The company has a quick ratio of 1.56, a current ratio of 1.54 and a debt-to-equity ratio of 1.21. The company has a market cap of $3.35 billion, a P/E ratio of 11.94, a price-to-earnings-growth ratio of 0.68 and a beta of 0.61. The company’s fifty day moving average is $67.29 and its two-hundred day moving average is $63.58.

Concentrix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Friday, October 25th will be issued a $0.333 dividend. This represents a $1.33 annualized dividend and a dividend yield of 2.58%. This is a boost from Concentrix’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, October 25th. Concentrix’s dividend payout ratio (DPR) is presently 28.01%.

Insider Buying and Selling

In other Concentrix news, EVP Cormac J. Twomey sold 400 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $74.63, for a total value of $29,852.00. Following the transaction, the executive vice president now owns 29,327 shares in the company, valued at approximately $2,188,674.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

CNXC has been the subject of a number of analyst reports. Canaccord Genuity Group reduced their target price on shares of Concentrix from $125.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday. Bank of America decreased their price target on Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Barrington Research lowered their price objective on shares of Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $81.25.

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.