Concentrix (NASDAQ:CNXC) Announces Quarterly Earnings Results

Concentrix (NASDAQ:CNXC) released its quarterly 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. Concentrix had a net margin of 2.18% and a return on equity of 16.57%. The firm had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the company earned $3.36 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year.

Concentrix Stock Performance

Shares of Concentrix stock traded up $0.99 on Wednesday, reaching $47.47. 1,601,396 shares of the stock were exchanged, compared to its average volume of 741,682. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $3.08 billion, a PE ratio of 15.41, a PEG ratio of 0.56 and a beta of 0.63. Concentrix has a 1-year low of $36.28 and a 1-year high of $106.10. The business has a fifty day moving average price of $43.25 and a two-hundred day moving average price of $55.04.

Wall Street Analyst Weigh In

CNXC has been the subject of several recent analyst reports. Robert W. Baird initiated coverage on shares of Concentrix in a research report on Thursday, October 3rd. They set an “outperform” rating and a $70.00 price objective for the company. Canaccord Genuity Group cut their target price on shares of Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, September 26th. Baird R W upgraded shares of Concentrix to a “strong-buy” rating in a research note on Thursday, October 3rd. Barrington Research decreased 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. Finally, Bank of America dropped their price target on Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, September 26th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $79.00.

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.