Concentrix (NASDAQ:CNXC) Updates Q2 Earnings Guidance

Concentrix (NASDAQ:CNXC - Get Free Report) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $2.69-2.80 for the period, compared to the consensus EPS 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.

Wall Street Analyst Weigh In

CNXC has been the topic of a number of recent analyst reports. Canaccord Genuity Group decreased their price objective on shares of Concentrix from $100.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Barrington Research lowered their price target on Concentrix from $70.00 to $54.00 and set an "outperform" rating for the company in a report on Monday, March 24th. Finally, Bank of America raised their price objective on Concentrix from $58.00 to $59.00 and gave the company a "neutral" rating in a research note on Thursday. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Concentrix has a consensus rating of "Buy" and an average target price of $69.60.

Concentrix Price Performance

Shares of CNXC traded down $8.09 during trading hours on Friday, reaching $56.95. The stock had a trading volume of 3,240,808 shares, compared to its average volume of 671,740. The stock has a market capitalization of $3.66 billion, a PE ratio of 15.35, a PEG ratio of 0.63 and a beta of 0.69. Concentrix has a 12 month low of $36.28 and a 12 month high of $77.00. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.42 and a current ratio of 1.42. The company's 50-day moving average is $48.06 and its two-hundred day moving average is $47.60.

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Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, beating 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 firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same period last year, the firm posted $2.57 earnings per share. The business's revenue for the quarter was down 1.3% on a year-over-year basis. Research analysts expect that Concentrix will post 10.11 EPS for the current year.

Concentrix Dividend Announcement

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 given a $0.3328 dividend. This represents a $1.33 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Friday, April 25th. Concentrix's dividend payout ratio (DPR) is currently 35.85%.

Insider Activity

In other news, EVP Cormac J. Twomey sold 500 shares of the firm's stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $55.60, for a total transaction of $27,800.00. Following the completion of the transaction, the executive vice president now directly owns 41,111 shares in the company, valued at $2,285,771.60. This trade represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.20% of the company's stock.

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.