Concentrix (CNXC) to Release Earnings on Wednesday

Concentrix (NASDAQ:CNXC) is expected to be posting 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. Individual that wish to register for the company’s earnings conference call can do so using this link.

Concentrix (NASDAQ:CNXC) last posted its earnings results on Wednesday, January 15th. The company reported $3.26 EPS for the quarter, topping analysts’ consensus estimates of $3.01 by $0.25. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.44 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.36 EPS.

Concentrix Price Performance

NASDAQ CNXC opened at $44.93 on Monday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42. Concentrix has a 1-year low of $36.28 and a 1-year high of $77.00. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 0.63 and a beta of 0.69. The business’s fifty day moving average price is $47.67 and its 200-day moving average price is $48.14.

Concentrix Cuts Dividend

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

Insider Transactions at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $55.60, for a total transaction of $27,800.00. Following the completion of the sale, the executive vice president now owns 41,111 shares of the company’s stock, valued at approximately $2,285,771.60. The trade was a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group cut their price target on Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Concentrix presently has an average rating of “Buy” and an average target price of $75.00.

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.