Concentrix (NASDAQ:CNXC) Releases Quarterly Earnings Results

Concentrix (NASDAQ:CNXC) posted its quarterly earnings results on Wednesday. The company reported $2.87 EPS for the quarter, missing the consensus estimate 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 return on equity of 17.00% and a net margin of 3.08%. The business’s revenue was up 46.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.54 EPS.

Concentrix Stock Up 0.0 %

Concentrix stock traded up $0.02 during midday trading on Friday, hitting $51.56. 2,132,027 shares of the stock were exchanged, compared to its average volume of 519,854. The company has a 50 day moving average price of $67.59 and a two-hundred day moving average price of $63.67. The firm has a market cap of $3.35 billion, a P/E ratio of 11.92, a P/E/G ratio of 0.68 and a beta of 0.61. Concentrix has a 1 year low of $50.23 and a 1 year high of $106.10. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.54 and a quick ratio of 1.56.

Concentrix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Friday, October 25th will be paid a dividend of $0.333 per share. This is an increase from Concentrix’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.33 annualized dividend and a yield of 2.58%. Concentrix’s payout ratio is 28.01%.

Wall Street Analyst Weigh In

CNXC has been the subject of a number of analyst reports. Bank of America lowered their target price on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday. Barrington Research reduced their target price on shares of Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Canaccord Genuity Group reduced their price objective on shares of Concentrix from $125.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $81.25.

Insider Transactions at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 400 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $74.63, for a total transaction of $29,852.00. Following the completion of the transaction, the executive vice president now directly owns 29,327 shares of the company’s stock, valued at approximately $2,188,674.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.