Concentrix (NASDAQ:CNXC) Releases Q4 Earnings Guidance

Concentrix (NASDAQ:CNXC) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.90-3.16 for the period, compared to the consensus earnings per share estimate of $3.48. The company issued revenue guidance of $2.42-2.47 billion, compared to the consensus revenue estimate of $2.46 billion. Concentrix also updated its FY 2024 guidance to 11.050-11.310 EPS.

Concentrix Trading Down 19.0 %

NASDAQ:CNXC opened at $51.54 on Friday. Concentrix has a 1 year low of $51.02 and a 1 year high of $106.10. The stock’s fifty day moving average price is $67.59 and its two-hundred day moving average price is $63.67. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.54 and a quick ratio of 1.56. The company has a market cap of $3.35 billion, a P/E ratio of 11.93, a P/E/G ratio of 0.67 and a beta of 0.61.

Concentrix (NASDAQ:CNXC) last posted its earnings results on Wednesday, September 25th. The company reported $2.87 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.06). Concentrix had a net margin of 3.08% and a return on equity of 17.00%. The company had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same period in the previous year, the firm earned $2.54 EPS. The firm’s quarterly revenue was up 46.2% compared to the same quarter last year. As a group, analysts expect that Concentrix will post 10.8 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on CNXC. Canaccord Genuity Group reduced their price target on shares of Concentrix from $125.00 to $100.00 and set a buy rating for the company in a research report on Thursday. Barrington Research reduced their target price on Concentrix from $84.00 to $70.00 and set an outperform rating for the company in a research report on Thursday. Finally, Bank of America decreased their target price on Concentrix from $85.00 to $70.00 and set a neutral rating on the stock 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $81.25.

Insider Transactions at Concentrix

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