Concentrix (NASDAQ:CNXC) Releases Q2 Earnings Guidance

Concentrix (NASDAQ:CNXC) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $2.69-2.80 for the period, compared to the consensus earnings per share 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 Trading Up 1.1 %

NASDAQ:CNXC opened at $45.68 on Thursday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17. Concentrix has a 12 month low of $36.28 and a 12 month high of $77.00. The company has a market capitalization of $2.94 billion, a P/E ratio of 12.31, a PEG ratio of 0.63 and a beta of 0.69. The firm has a fifty day simple moving average of $47.58 and a 200-day simple moving average of $47.73.

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

Concentrix Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Friday, January 31st were issued a dividend of $0.3328 per share. The ex-dividend date was Friday, January 31st. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.91%. Concentrix’s payout ratio is currently 35.85%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CNXC. Canaccord Genuity Group dropped their price target on Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Barrington Research dropped their target price on shares of Concentrix from $70.00 to $54.00 and set an “outperform” rating for the company in a report on Monday. One investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $71.80.

Insider Buying and Selling at Concentrix

In other news, Director Kathryn Hayley purchased 500 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were purchased at an average price of $50.22 per share, for a total transaction of $25,110.00. Following the purchase, the director now directly owns 3,034 shares of the company’s stock, valued at $152,367.48. This represents a 19.73 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.20% 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.