Concentrix (NASDAQ:CNXC) Posts Quarterly Earnings Results, Beats Estimates By $0.25 EPS

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

Concentrix Trading Up 2.8 %

Shares of NASDAQ CNXC opened at $48.78 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.18. Concentrix has a one year low of $36.28 and a one year high of $106.10. The business has a 50-day moving average price of $43.34 and a two-hundred day moving average price of $54.98. The firm has a market capitalization of $3.16 billion, a PE ratio of 15.84, a PEG ratio of 0.60 and a beta of 0.63.

Concentrix Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Friday, January 31st will be paid a $0.3328 dividend. This represents a $1.33 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Friday, January 31st. Concentrix’s dividend payout ratio is currently 43.18%.

Wall Street Analyst Weigh In

CNXC has been the topic of several research reports. Baird R W raised Concentrix to a “strong-buy” rating in a report on Thursday, October 3rd. 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. Barrington Research decreased their price target on Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, September 26th. Bank of America cut their price objective on Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, September 26th. Finally, Robert W. Baird began coverage on shares of Concentrix in a research note on Thursday, October 3rd. They set an “outperform” rating and a $70.00 price objective for the company. One 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. According to data from MarketBeat, the stock 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.