Concentrix (NASDAQ:CNXC) Issues Earnings Results, Beats Expectations By $0.25 EPS

Concentrix (NASDAQ:CNXC) issued its quarterly earnings results on Wednesday. The company reported $3.26 EPS for the quarter, topping the consensus estimate of $3.01 by $0.25, Briefing.com reports. The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.44 billion. Concentrix had a net margin of 2.18% and a return on equity of 16.57%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.36 EPS.

Concentrix Trading Up 2.1 %

Shares of CNXC traded up $0.99 during mid-day trading on Wednesday, reaching $47.47. The stock had a trading volume of 1,601,396 shares, compared to its average volume of 741,682. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.57 and a quick ratio of 1.57. The business’s fifty day moving average is $43.25 and its 200 day moving average is $55.04. Concentrix has a 52-week low of $36.28 and a 52-week high of $106.10. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 15.41, a P/E/G ratio of 0.56 and a beta of 0.63.

Analysts Set New Price Targets

A number of analysts have recently commented on CNXC shares. Baird R W raised shares of Concentrix to a “strong-buy” rating in a research note on Thursday, October 3rd. Barrington Research cut their price objective on Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, September 26th. Robert W. Baird began coverage on Concentrix in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $70.00 target price on the stock. Bank of America lowered their price target on Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, September 26th. Finally, Canaccord Genuity Group reduced their price objective on Concentrix from $125.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, September 26th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Concentrix presently has a consensus rating of “Buy” and a consensus price target of $79.00.

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.