Concentrix (NASDAQ:CNXC) Releases Earnings Results, Beats Expectations By $0.25 EPS

Concentrix (NASDAQ:CNXC) posted its earnings results on Wednesday. The company reported $3.26 EPS for the quarter, beating the consensus estimate of $3.01 by $0.25, Briefing.com reports. The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.44 billion. Concentrix had a return on equity of 16.57% and a net margin of 2.18%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.36 earnings per share.

Concentrix Price Performance

Shares of NASDAQ:CNXC opened at $48.78 on Friday. The stock’s 50 day moving average price is $43.34 and its 200 day moving average price is $54.98. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.57 and a quick ratio of 1.57. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 0.60 and a beta of 0.63. Concentrix has a 12 month low of $36.28 and a 12 month high of $106.10.

Concentrix Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Friday, January 31st will be paid a dividend of $0.3328 per share. The ex-dividend date is Friday, January 31st. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.73%. Concentrix’s dividend payout ratio is presently 43.18%.

Analyst Upgrades and Downgrades

CNXC has been the subject of a number of recent research reports. Robert W. Baird started coverage on Concentrix in a research note on Thursday, October 3rd. They set an “outperform” rating and a $70.00 price objective for the company. Canaccord Genuity Group dropped their price objective on shares of Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday. Barrington Research reduced their target price on shares of Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, September 26th. Bank of America dropped their price target on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, September 26th. Finally, Baird R W upgraded Concentrix to a “strong-buy” rating in a research report on Thursday, October 3rd. One research 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. Based on data from MarketBeat.com, Concentrix presently has a consensus rating of “Buy” and a consensus price target of $75.00.

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.