Concentrix (NASDAQ:CNXC) Issues Q4 2024 Earnings Guidance

Concentrix (NASDAQ:CNXC) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 2.900-3.160 for the period, compared to the consensus earnings per share estimate of 3.480. The company issued revenue guidance of $2.4 billion-$2.5 billion, compared to the consensus revenue estimate of $2.5 billion. Concentrix also updated its FY 2024 guidance to 11.050-11.310 EPS.

Analysts Set New Price Targets

A number of research firms recently issued reports on CNXC. Barrington Research lowered their price objective on shares of Concentrix from $84.00 to $70.00 and set an outperform rating for the company in a research report on Thursday. Bank of America dropped their price target on Concentrix from $85.00 to $70.00 and set a neutral rating for the company in a research report on Thursday. Finally, Canaccord Genuity Group decreased their price objective on Concentrix from $125.00 to $100.00 and set a buy rating on the stock in a research report on Thursday. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $81.25.

Concentrix Price Performance

CNXC stock opened at $51.56 on Friday. The stock has a market cap of $3.35 billion, a PE ratio of 11.94, a P/E/G ratio of 0.68 and a beta of 0.61. Concentrix has a 12 month low of $50.23 and a 12 month high of $106.10. The company has a 50-day moving average price of $67.29 and a 200 day moving average price of $63.58. The company has a current ratio of 1.54, a quick ratio of 1.56 and a debt-to-equity ratio of 1.21.

Concentrix (NASDAQ:CNXC) last released its earnings results on Wednesday, September 25th. The company reported $2.87 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.06). Concentrix had a net margin of 3.08% and a return on equity of 17.00%. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the prior year, the company posted $2.54 EPS. The company’s quarterly revenue was up 46.2% compared to the same quarter last year. Equities research analysts anticipate that Concentrix will post 10.8 earnings per share for the current year.

Concentrix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th will be given a dividend of $0.333 per share. This represents a $1.33 annualized dividend and a dividend yield of 2.58%. This is an increase from Concentrix’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, October 25th. Concentrix’s dividend payout ratio (DPR) is 28.01%.

Insider Activity

In related news, EVP Cormac J. Twomey sold 400 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $67.23, for a total value of $26,892.00. Following the transaction, the executive vice president now owns 29,727 shares of the company’s stock, valued at approximately $1,998,546.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.00% 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.