Concentrix (NASDAQ:CNXC) Issues Q4 2024 Earnings Guidance

Concentrix (NASDAQ:CNXC) updated its fourth quarter 2024 earnings guidance on Wednesday. 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.

Analyst Ratings Changes

CNXC has been the subject of several recent research reports. Bank of America cut their target price on shares of Concentrix from $85.00 to $70.00 and set a neutral rating for the company in a research report on Thursday. Canaccord Genuity Group reduced their price objective on Concentrix from $125.00 to $100.00 and set a buy rating for the company in a research note on Thursday. Finally, Barrington Research lowered their target price on Concentrix from $84.00 to $70.00 and set an outperform rating on the stock in a research report on Thursday. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $81.25.

Concentrix Price Performance

Shares of NASDAQ:CNXC opened at $51.56 on Friday. The firm’s 50 day simple moving average is $67.29 and its two-hundred day simple moving average is $63.58. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.54 and a quick ratio of 1.56. The company has a market capitalization of $3.35 billion, a P/E ratio of 11.94, a P/E/G ratio of 0.68 and a beta of 0.61. Concentrix has a 1-year low of $50.23 and a 1-year high of $106.10.

Concentrix (NASDAQ:CNXC) last issued its earnings results on Wednesday, September 25th. The company reported $2.87 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.06). Concentrix had a return on equity of 17.00% and a net margin of 3.08%. The firm had revenue of $2.39 billion during 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% on a year-over-year basis. Research analysts expect that Concentrix will post 10.8 EPS for the current fiscal year.

Concentrix Increases Dividend

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

Insider Buying and Selling

In related news, EVP Cormac J. Twomey sold 400 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $74.63, for a total transaction of $29,852.00. Following the completion of the transaction, the executive vice president now owns 29,327 shares in the company, valued at $2,188,674.01. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.00% of the stock is owned by insiders.

Concentrix Company Profile

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.