Concentrix (CNXC) Projected to Post Quarterly Earnings on Wednesday

Concentrix (NASDAQ:CNXC) is anticipated to post its quarterly earnings results before the market opens on Wednesday, March 26th. Analysts expect Concentrix to post earnings of $2.58 per share and revenue of $2.37 billion for the quarter. Investors interested in participating in 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 EPS for the quarter, beating analysts’ consensus estimates of $3.01 by $0.25. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The company had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same period last year, the business posted $3.36 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year.

Concentrix Stock Performance

CNXC opened at $45.00 on Tuesday. The company has a market cap of $2.90 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 0.63 and a beta of 0.69. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.17. The firm’s 50-day moving average price is $47.64 and its 200-day moving average price is $47.94. Concentrix has a 52-week low of $36.28 and a 52-week high of $77.00.

Concentrix Cuts Dividend

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

Insiders Place Their Bets

In other news, EVP Cormac J. Twomey sold 500 shares of the company’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $55.60, for a total value of $27,800.00. Following the sale, the executive vice president now owns 41,111 shares in the company, valued at $2,285,771.60. This represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CNXC. Canaccord Genuity Group cut their target price on 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 target on Concentrix from $70.00 to $54.00 and set an “outperform” rating on the stock in a research note on Monday. 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $71.80.

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.