Concentrix (NASDAQ:CNXC) Releases Quarterly Earnings Results, Beats Expectations By $0.25 EPS

Concentrix (NASDAQ:CNXC) released its quarterly earnings data 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 business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the business earned $3.36 earnings per share. Concentrix’s quarterly revenue was up 9.7% compared to the same quarter last year.

Concentrix Stock Up 2.1 %

Shares of NASDAQ:CNXC traded up $0.99 during trading on Wednesday, reaching $47.47. The stock had a trading volume of 1,601,396 shares, compared to its average volume of 741,682. The company has a market capitalization of $3.08 billion, a P/E ratio of 15.41, a PEG ratio of 0.56 and a beta of 0.63. Concentrix has a one year low of $36.28 and a one year high of $106.10. 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’s 50-day simple moving average is $43.25 and its 200 day simple moving average is $55.04.

Analyst Ratings Changes

Several research firms have commented on CNXC. Baird R W raised Concentrix to a “strong-buy” rating in a research note on Thursday, October 3rd. Canaccord Genuity Group decreased their target price on Concentrix from $125.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, September 26th. Robert W. Baird initiated coverage on shares of Concentrix in a report on Thursday, October 3rd. They issued an “outperform” rating and a $70.00 price target on the stock. Barrington Research reduced their price target on shares of Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, September 26th. Finally, Bank of America lowered their price objective on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, September 26th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target 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.