Concentrix (NASDAQ:CNXC) Posts Quarterly Earnings Results, Beats Expectations By $0.21 EPS

Concentrix (NASDAQ:CNXC - Get Free Report) announced its quarterly earnings data on Wednesday. The company reported $2.79 earnings per share for the quarter, topping analysts' consensus estimates of $2.58 by $0.21, Briefing.com reports. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The firm's revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.57 EPS.

Concentrix Price Performance

Shares of Concentrix stock traded down $1.31 during trading hours on Monday, hitting $55.64. The company's stock had a trading volume of 1,381,136 shares, compared to its average volume of 674,568. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.42 and a current ratio of 1.42. Concentrix has a 12-month low of $36.28 and a 12-month high of $77.00. The business has a 50 day moving average price of $48.06 and a two-hundred day moving average price of $47.46. The company has a market cap of $3.58 billion, a PE ratio of 15.00, a PEG ratio of 0.63 and a beta of 0.69.

Concentrix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th will be issued a dividend of $0.3328 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a yield of 2.39%. Concentrix's dividend payout ratio is presently 33.33%.

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Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CNXC shares. Canaccord Genuity Group dropped their price target on Concentrix from $100.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Bank of America boosted their price target on Concentrix from $58.00 to $59.00 and gave the company a "neutral" rating in a research note on Thursday. Finally, Barrington Research lowered their price objective on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a research note on Monday, March 24th. 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 company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $69.60.

Insider Buying and Selling

In other news, EVP Cormac J. Twomey sold 500 shares of the business's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $55.60, for a total value of $27,800.00. Following the transaction, the executive vice president now owns 41,111 shares of the company's stock, valued at approximately $2,285,771.60. The trade was a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.20% 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.