Concentrix (CNXC) Set to Announce Quarterly Earnings on Wednesday

Concentrix (NASDAQ:CNXCGet Rating) is set to issue its quarterly earnings data after the market closes on Wednesday, September 28th. Analysts expect the company to announce earnings of $2.76 per share for the quarter. Concentrix has set its FY 2022 guidance at EPS and its Q3 2022 guidance at EPS.Parties that wish to register for the company’s conference call can do so using this link.

Concentrix (NASDAQ:CNXCGet Rating) last released its earnings results on Monday, June 27th. The company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Concentrix had a net margin of 7.66% and a return on equity of 20.87%. The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.37 earnings per share. On average, analysts expect Concentrix to post $11 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Concentrix Stock Down 1.5 %

CNXC stock opened at $119.34 on Wednesday. Concentrix has a 52 week low of $117.59 and a 52 week high of $208.48. The stock has a market capitalization of $6.21 billion, a P/E ratio of 13.78, a P/E/G ratio of 0.76 and a beta of 0.51. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.81. The firm has a 50-day simple moving average of $129.45 and a 200-day simple moving average of $148.17.

Concentrix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 9th. Shareholders of record on Friday, July 29th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $1.00 annualized dividend and a yield of 0.84%. Concentrix’s payout ratio is 11.55%.

Insider Activity at Concentrix

In related news, Director Dennis Polk sold 10,000 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $134.82, for a total value of $1,348,200.00. Following the transaction, the director now directly owns 18,282 shares of the company’s stock, valued at approximately $2,464,779.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Jane Fogarty bought 400 shares of Concentrix stock in a transaction dated Friday, July 29th. The stock was bought at an average price of $134.63 per share, for a total transaction of $53,852.00. Following the purchase, the executive vice president now owns 3,164 shares of the company’s stock, valued at $425,969.32. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Dennis Polk sold 10,000 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $134.82, for a total transaction of $1,348,200.00. Following the completion of the sale, the director now owns 18,282 shares of the company’s stock, valued at approximately $2,464,779.24. The disclosure for this sale can be found here. Insiders have sold 549,596 shares of company stock valued at $68,915,729 in the last ninety days. Insiders own 0.98% of the company’s stock.

Institutional Trading of Concentrix

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pearl River Capital LLC acquired a new position in Concentrix during the first quarter worth about $218,000. XTX Topco Ltd purchased a new stake in shares of Concentrix during the first quarter worth about $223,000. Lazard Asset Management LLC grew its holdings in shares of Concentrix by 52.8% during the first quarter. Lazard Asset Management LLC now owns 1,830 shares of the company’s stock worth $304,000 after buying an additional 632 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Concentrix by 7.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,859 shares of the company’s stock worth $310,000 after buying an additional 133 shares in the last quarter. Finally, Utah Retirement Systems grew its holdings in shares of Concentrix by 4.5% during the second quarter. Utah Retirement Systems now owns 2,300 shares of the company’s stock worth $312,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

Analysts Set New Price Targets

Separately, Barrington Research decreased their price objective on shares of Concentrix from $202.00 to $183.00 and set an “outperform” rating on the stock in a report on Tuesday, July 5th.

Concentrix Company Profile

(Get Rating)

Concentrix Corporation provides 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. It also offers customer lifecycle management; customer experience/user experience strategy and design; digital transformation; and voice of the customer and analytics solutions.

Further Reading

Earnings History for Concentrix (NASDAQ:CNXC)

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