Barrington Research Comments on Concentrix Co.’s Q1 2023 Earnings (NASDAQ:CNXC)

Concentrix Co. (NASDAQ:CNXC – Get Rating) – Barrington Research issued their Q1 2023 earnings per share (EPS) estimates for Concentrix in a research note issued on Monday, January 23rd. Barrington Research analyst V. Colicchio expects that the company will earn $2.40 per share for the quarter. Barrington Research currently has a “Outperform” rating and a $174.00 target price on the stock. The consensus estimate for Concentrix’s current full-year earnings is $12.35 per share. Barrington Research also issued estimates for Concentrix’s Q2 2023 earnings at $2.79 EPS, Q3 2023 earnings at $2.95 EPS, Q4 2023 earnings at $3.14 EPS and FY2024 earnings at $12.35 EPS.

Separately, TheStreet upgraded Concentrix from a “c” rating to a “b-” rating in a report on Thursday, January 12th.

Concentrix Trading Down 0.6 %

Shares of Concentrix stock opened at $139.05 on Wednesday. The company has a quick ratio of 1.67, a current ratio of 1.55 and a debt-to-equity ratio of 0.83. The firm has a market cap of $7.18 billion, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 0.96 and a beta of 0.54. The business has a fifty day simple moving average of $128.69 and a 200-day simple moving average of $126.17. Concentrix has a fifty-two week low of $108.57 and a fifty-two week high of $208.48.

Institutional Investors Weigh In On Concentrix

Hedge funds have recently modified their holdings of the stock. Ronald Blue Trust Inc. purchased a new stake in shares of Concentrix during the second quarter valued at $32,000. CoreCap Advisors LLC purchased a new stake in shares of Concentrix during the second quarter valued at $41,000. Ellevest Inc. lifted its holdings in shares of Concentrix by 6,180.0% during the third quarter. Ellevest Inc. now owns 314 shares of the company’s stock valued at $35,000 after purchasing an additional 309 shares during the last quarter. First PREMIER Bank lifted its stake in Concentrix by 57.5% in the 3rd quarter. First PREMIER Bank now owns 315 shares of the company’s stock worth $35,000 after acquiring an additional 115 shares in the last quarter. Finally, CWM LLC lifted its stake in Concentrix by 69.5% in the 3rd quarter. CWM LLC now owns 317 shares of the company’s stock worth $35,000 after acquiring an additional 130 shares in the last quarter. 92.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Dennis Polk sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $121.64, for a total transaction of $1,216,400.00. Following the completion of the sale, the director now directly owns 15,507 shares of the company’s stock, valued at $1,886,271.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.98% of the stock is currently owned by company insiders.

Concentrix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 10th. Stockholders of record on Monday, January 30th will be issued a $0.275 dividend. The ex-dividend date is Friday, January 27th. This represents a $1.10 annualized dividend and a dividend yield of 0.79%. Concentrix’s dividend payout ratio (DPR) is 13.29%.

About Concentrix

(Get Rating)

Concentrix Corporation provides 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. It also offers customer lifecycle management; customer experience/user experience strategy and design; digital transformation; and voice of the customer and analytics solutions.