Concentrix (NASDAQ:CNXC) Announces Earnings Results

Concentrix (NASDAQ:CNXC) posted its quarterly earnings results on Wednesday. The company reported $2.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.06), Briefing.com reports. The company 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 for the quarter was up 46.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.54 earnings per share.

Concentrix Trading Up 0.0 %

Shares of CNXC opened at $51.56 on Friday. The stock has a fifty day moving average price of $67.29 and a two-hundred day moving average price of $63.58. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 0.68 and a beta of 0.61. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.56 and a current ratio of 1.54. Concentrix has a 52-week low of $50.23 and a 52-week high of $106.10.

Concentrix Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Barrington Research decreased their target price on Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday. Bank of America decreased their price objective on Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Canaccord Genuity Group cut their target price on Concentrix from $125.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Concentrix presently has a consensus rating of “Moderate Buy” and an average target price of $81.25.

Insider Activity at Concentrix

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

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.