Concentrix (CNXC) to Release Quarterly Earnings on Wednesday

Concentrix (NASDAQ:CNXC - Get Free Report) is expected to issue its quarterly earnings data before the market opens on Wednesday, March 26th. Analysts expect the company to announce earnings of $2.58 per share and revenue of $2.37 billion for the quarter. Persons that wish to listen to the company's earnings conference call can do so using this link.

Concentrix (NASDAQ:CNXC - Get Free Report) last issued its quarterly earnings data on Wednesday, January 15th. The company reported $3.26 EPS for the quarter, beating the consensus estimate of $3.01 by $0.25. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The firm 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 firm posted $3.36 earnings per share. The company's quarterly revenue was up 9.7% compared to the same quarter last year.

Concentrix Trading Down 0.3 %

NASDAQ:CNXC traded down $0.13 during mid-day trading on Friday, reaching $44.93. 1,034,913 shares of the company's stock traded hands, compared to its average volume of 629,922. The company has a 50 day moving average price of $47.67 and a 200-day moving average price of $48.52. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 0.63 and a beta of 0.69. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42. Concentrix has a 12-month low of $36.28 and a 12-month high of $77.00.

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Concentrix Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Friday, January 31st were given a $0.3328 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.96%. Concentrix's dividend payout ratio is currently 35.85%.

Insider Activity at Concentrix

In other Concentrix news, Director Kathryn Hayley purchased 500 shares of the firm's stock in a transaction that occurred on Wednesday, January 22nd. The stock was bought at an average cost of $50.22 per share, for a total transaction of $25,110.00. Following the purchase, the director now directly owns 3,034 shares in the company, valued at $152,367.48. The trade was a 19.73 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, 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 note on Thursday, January 16th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $75.00.

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.