Concentrix (NASDAQ:CNXC) Posts Earnings Results, Misses Estimates By $0.06 EPS

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

Concentrix Price Performance

Shares of NASDAQ:CNXC opened at $51.54 on Friday. Concentrix has a 1-year low of $51.02 and a 1-year high of $106.10. The firm has a market capitalization of $3.35 billion, a PE ratio of 11.93, a PEG ratio of 0.67 and a beta of 0.61. The business’s 50 day moving average is $67.59 and its 200-day moving average is $63.67. The company has a current ratio of 1.54, a quick ratio of 1.56 and a debt-to-equity ratio of 1.21.

Insider Transactions at Concentrix

In other news, EVP Cormac J. Twomey sold 400 shares of Concentrix stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $74.63, for a total transaction of $29,852.00. Following the sale, the executive vice president now owns 29,327 shares of the company’s stock, valued at approximately $2,188,674.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CNXC has been the topic of a number of research analyst reports. Canaccord Genuity Group lowered their target price on Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday. Barrington Research lowered their target price on Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Bank of America lowered their target price on Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Concentrix currently has an average rating of “Moderate Buy” and a consensus 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.