Concentrix (NASDAQ:CNXC) Issues Q4 2024 Earnings Guidance

Concentrix (NASDAQ:CNXC) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 2.900-3.160 for the period, compared to the consensus 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 Upgrades and Downgrades

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

Concentrix Price Performance

Concentrix stock opened at $51.54 on Friday. The firm’s 50-day moving average is $67.59 and its two-hundred day moving average is $63.67. 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 stock has a market capitalization of $3.35 billion, a P/E ratio of 11.93, a P/E/G ratio of 0.67 and a beta of 0.61. Concentrix has a 12-month low of $51.02 and a 12-month high of $106.10.

Concentrix (NASDAQ:CNXC) last issued its quarterly 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 net margin of 3.08% and a return on equity of 17.00%. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same quarter last year, the firm posted $2.54 earnings per share. The company’s revenue was up 46.2% on a year-over-year basis. Equities analysts predict that Concentrix will post 10.8 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Cormac J. Twomey sold 400 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,188,674.01. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 3.00% of the stock is owned by corporate insiders.

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.