Concentrix (NASDAQ:CNXC) Updates Q2 Earnings Guidance

Concentrix (NASDAQ:CNXC) updated its second quarter earnings guidance on Wednesday. The company provided EPS guidance of $2.69-2.80 for the period, compared to the consensus EPS estimate of $2.79. The company issued revenue guidance of $2.37-2.39 billion, compared to the consensus revenue estimate of $2.36 billion. Concentrix also updated its FY 2025 guidance to 11.180-11.770 EPS.

Concentrix Price Performance

Shares of CNXC opened at $65.04 on Friday. The firm has a 50-day simple moving average of $47.90 and a 200-day simple moving average of $47.85. Concentrix has a fifty-two week low of $36.28 and a fifty-two week high of $77.00. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 0.63 and a beta of 0.69. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.42 and a current ratio of 1.42.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.21. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.37 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. Concentrix’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the firm posted $2.57 EPS. On average, equities research analysts anticipate that Concentrix will post 10.11 earnings per share for the current year.

Concentrix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, April 25th will be issued a dividend of $0.3328 per share. The ex-dividend date is Friday, April 25th. This represents a $1.33 annualized dividend and a yield of 2.05%. Concentrix’s dividend payout ratio is currently 35.85%.

Analysts Set New Price Targets

CNXC has been the subject of a number of recent analyst reports. Canaccord Genuity Group reduced their target price on Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Bank of America raised their price objective on shares of Concentrix from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Barrington Research lowered their target price on shares of Concentrix from $70.00 to $54.00 and set an “outperform” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $69.60.

Insider Buying and Selling

In other Concentrix news, Director Kathryn Hayley purchased 500 shares of Concentrix stock in a transaction on Wednesday, January 22nd. The shares were purchased at an average cost of $50.22 per share, with a total value of $25,110.00. Following the completion of the transaction, the director now directly owns 3,034 shares in the company, valued at approximately $152,367.48. This represents a 19.73 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.20% 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.