Concentrix (NASDAQ:CNXC) Updates Q2 Earnings Guidance

Concentrix (NASDAQ:CNXC) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.69-2.80 for the period, compared to the consensus 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.

Concentrix Price Performance

NASDAQ CNXC opened at $65.04 on Friday. The firm’s fifty day simple moving average is $47.90 and its two-hundred day simple moving average is $47.85. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17. Concentrix has a 12-month low of $36.28 and a 12-month high of $77.00. The firm has a market capitalization of $4.18 billion, a P/E ratio of 17.53, a P/E/G ratio of 0.63 and a beta of 0.69.

Concentrix (NASDAQ:CNXC) last released its earnings results on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.21. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same period last year, the business earned $2.57 EPS. Concentrix’s revenue for the quarter was down 1.3% on a year-over-year basis. Analysts forecast that Concentrix will post 10.11 EPS for the current fiscal year.

Concentrix Announces Dividend

The company 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 dividend of $0.3328 per share. The ex-dividend date is Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a yield of 2.05%. Concentrix’s dividend payout ratio is currently 35.85%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CNXC. Bank of America raised their price target on shares of Concentrix from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Thursday. Canaccord Genuity Group cut their price target on Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Barrington Research decreased their price objective on Concentrix from $70.00 to $54.00 and set an “outperform” rating for the company in a report on Monday. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Concentrix presently has an average rating of “Buy” and an average target price of $69.60.

Insider Activity at Concentrix

In other news, Director Kathryn Hayley bought 500 shares of Concentrix stock in a transaction that occurred on Wednesday, January 22nd. The shares were purchased at an average price of $50.22 per share, with a total value of $25,110.00. Following the completion of the acquisition, the director now directly owns 3,034 shares in the company, valued at $152,367.48. The trade was a 19.73 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company 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.