Barrington Research Weighs in on Concentrix Co.’s Q1 2024 Earnings (NASDAQ:CNXC)

Concentrix Co. (NASDAQ:CNXCFree Report) – Analysts at Barrington Research issued their Q1 2024 earnings estimates for Concentrix in a report released on Thursday, January 25th. Barrington Research analyst V. Colicchio anticipates that the company will earn $2.36 per share for the quarter. Barrington Research currently has a “Outperform” rating and a $121.00 target price on the stock. The consensus estimate for Concentrix’s current full-year earnings is $12.37 per share. Barrington Research also issued estimates for Concentrix’s Q2 2024 earnings at $2.92 EPS, Q3 2024 earnings at $2.98 EPS, Q4 2024 earnings at $3.00 EPS and FY2025 earnings at $12.56 EPS.

Several other research firms have also commented on CNXC. TheStreet upgraded shares of Concentrix from a “d” rating to a “c-” rating in a research report on Monday, November 20th. Scotiabank dropped their price target on shares of Concentrix from $120.00 to $115.00 in a research report on Tuesday, October 10th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $124.20.

Check Out Our Latest Research Report on Concentrix

Concentrix Stock Down 2.6 %

NASDAQ:CNXC opened at $89.80 on Monday. The firm has a market capitalization of $5.98 billion, a P/E ratio of 15.56, a PEG ratio of 0.83 and a beta of 0.61. Concentrix has a 1-year low of $70.58 and a 1-year high of $151.82. The company’s fifty day moving average price is $95.96 and its 200-day moving average price is $84.92. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.38 and a quick ratio of 3.54.

Hedge Funds Weigh In On Concentrix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in Concentrix by 0.8% during the third quarter. FMR LLC now owns 7,366,776 shares of the company’s stock valued at $590,152,000 after purchasing an additional 57,849 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Concentrix by 1.7% during the third quarter. Vanguard Group Inc. now owns 4,329,347 shares of the company’s stock valued at $346,824,000 after purchasing an additional 71,069 shares in the last quarter. BlackRock Inc. lifted its holdings in Concentrix by 1.0% during the first quarter. BlackRock Inc. now owns 3,668,975 shares of the company’s stock valued at $611,103,000 after purchasing an additional 35,619 shares in the last quarter. Impactive Capital LP lifted its holdings in Concentrix by 30.2% during the third quarter. Impactive Capital LP now owns 3,255,172 shares of the company’s stock valued at $260,772,000 after purchasing an additional 754,566 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Concentrix by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,371,462 shares of the company’s stock valued at $110,746,000 after purchasing an additional 44,342 shares in the last quarter. 79.03% of the stock is owned by hedge funds and other institutional investors.

Concentrix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Monday, February 5th will be issued a dividend of $0.3025 per share. This represents a $1.21 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Friday, February 2nd. Concentrix’s payout ratio is 20.97%.

Concentrix Company Profile

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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; analytics and actionable insights; digital transformation; and voice of the customer and analytics solutions.

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