Concentrix (CNXC) Projected to Post Quarterly Earnings on Wednesday

Concentrix (NASDAQ:CNXC) is projected to post its quarterly earnings results before the market opens on Wednesday, March 26th. Analysts expect Concentrix to post earnings of $2.58 per share and revenue of $2.37 billion for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings results on Wednesday, January 15th. The company reported $3.26 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the business earned $3.36 EPS. Concentrix’s quarterly revenue was up 9.7% compared to the same quarter last year.

Concentrix Trading Down 0.3 %

NASDAQ:CNXC opened at $44.93 on Monday. Concentrix has a one year low of $36.28 and a one year high of $77.00. The company’s 50-day simple moving average is $47.67 and its 200 day simple moving average is $48.14. The firm has a market capitalization of $2.89 billion, a P/E 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 Cuts Dividend

The business also recently declared 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%.

Analyst Ratings Changes

Separately, Canaccord Genuity Group lowered their price objective 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 given a strong buy rating to the company. According to MarketBeat.com, Concentrix has a consensus rating of “Buy” and an average target price of $75.00.

Insider Transactions at Concentrix

In other news, Director Kathryn Hayley acquired 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 acquisition, the director now directly owns 3,034 shares in the company, valued at approximately $152,367.48. The trade was a 19.73 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 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.