Concentrix (NASDAQ:CNXC) Releases Q4 Earnings Guidance

Concentrix (NASDAQ:CNXC) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.90-3.16 for the period, compared to the consensus estimate of $3.48. The company issued revenue guidance of $2.42-2.47 billion, compared to the consensus revenue estimate of $2.46 billion. Concentrix also updated its FY 2024 guidance to 11.050-11.310 EPS.

Concentrix Price Performance

Shares of NASDAQ:CNXC opened at $63.62 on Thursday. The firm’s 50 day moving average is $67.93 and its two-hundred day moving average is $63.76. Concentrix has a 52 week low of $53.89 and a 52 week high of $106.10. The firm has a market capitalization of $4.13 billion, a P/E ratio of 14.73, a PEG ratio of 0.67 and a beta of 0.61. The company has a current ratio of 1.54, a quick ratio of 1.56 and a debt-to-equity ratio of 1.21.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings results on Wednesday, June 26th. The company reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.06. Concentrix had a net margin of 3.08% and a return on equity of 17.00%. The firm had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the previous year, the business posted $2.50 earnings per share. The firm’s quarterly revenue was up 47.4% compared to the same quarter last year. Analysts anticipate that Concentrix will post 10.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

CNXC has been the subject of a number of research reports. Bank of America raised shares of Concentrix from an underperform rating to a neutral rating and lifted their target price for the company from $65.00 to $85.00 in a research note on Wednesday, August 28th. Canaccord Genuity Group reiterated a buy rating and issued a $125.00 target price on shares of Concentrix in a report on Thursday, June 27th. Finally, Barrington Research reiterated an outperform rating and issued a $84.00 target price on shares of Concentrix in a report on Friday, September 20th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Concentrix presently has an average rating of Moderate Buy and a consensus target price of $94.75.

Insider Activity at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 400 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $67.23, for a total value of $26,892.00. Following the sale, the executive vice president now directly owns 29,727 shares in the company, valued at $1,998,546.21. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 1,200 shares of company stock worth $82,028 over the last ninety days. Company insiders own 3.00% 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.