Concentrix (NASDAQ:CNXC) Updates Q1 Earnings Guidance

Concentrix (NASDAQ:CNXC) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $2.49-2.64 for the period, compared to the consensus earnings per share estimate of $2.85. The company issued revenue guidance of $2.355-2.370 billion, compared to the consensus revenue estimate of $2.41 billion. Concentrix also updated its FY 2025 guidance to 11.180-11.770 EPS.

Concentrix Stock Up 2.1 %

NASDAQ CNXC opened at $47.47 on Thursday. The business has a fifty day moving average price of $43.25 and a two-hundred day moving average price of $55.04. The stock has a market capitalization of $3.08 billion, a PE ratio of 15.41, a PEG ratio of 0.60 and a beta of 0.63. Concentrix has a fifty-two week low of $36.28 and a fifty-two week high of $106.10. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.57 and a quick ratio of 1.57.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $3.26 earnings per share for the quarter, topping the consensus estimate of $3.01 by $0.25. Concentrix had a return on equity of 16.57% and a net margin of 2.18%. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the prior year, the company earned $3.36 EPS. Concentrix’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities analysts expect that Concentrix will post 10.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CNXC shares. Canaccord Genuity Group dropped their price target on shares of Concentrix from $125.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, September 26th. Bank of America decreased their price objective on Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, September 26th. Robert W. Baird initiated coverage on Concentrix in a report on Thursday, October 3rd. They set an “outperform” rating and a $70.00 target price on the stock. Baird R W upgraded shares of Concentrix to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, Barrington Research cut 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, September 26th. One equities research 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $79.00.

About Concentrix

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.