Concentrix (NASDAQ:CNXC) Reaches New 52-Week Low - What's Next?

Key Points

• Shares of Concentrix reached a new 52-week low of $22.85 (last $23.82) on heavy volume (~3.13M), trading well below the 50‑day ($29.47) and 200‑day ($35.95) moving averages and carrying a market cap of about $1.45B.
• Analysts have trimmed price targets and issued mixed ratings (three Buys, one Hold, one Sell), leaving an average rating of 'Hold' and an average price target of $48.50.
• The company slightly missed EPS expectations ($2.61 vs. $2.65) despite 5.4% revenue growth and a negative net margin (-13.35%); management announced a $0.36 quarterly dividend (a 6.0% yield) and the CFO purchased 2,500 shares at about $27.95.

Shares of Concentrix Corporation (NASDAQ:CNXC - Get Free Report) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $22.85 and last traded at $23.82, with a volume of 3126767 shares trading hands. The stock had previously closed at $24.85.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Concentrix in a research note on Monday. Robert W. Baird dropped their price target on shares of Concentrix from $52.00 to $40.00 and set an "outperform" rating for the company in a research note on Wednesday, March 25th. Wall Street Zen downgraded shares of Concentrix from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Canaccord Genuity Group dropped their price target on shares of Concentrix from $80.00 to $55.00 and set a "buy" rating for the company in a research note on Wednesday, March 25th. Finally, Barrington Research dropped their price target on shares of Concentrix from $62.00 to $38.00 and set an "outperform" rating for the company in a research note on Wednesday, March 25th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $48.50.

Concentrix Price Performance

The business's 50 day moving average is $29.47 and its two-hundred day moving average is $35.95. The firm has a market cap of $1.45 billion, a P/E ratio of -1.11, a P/E/G ratio of 0.31 and a beta of 0.50. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.43.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its earnings results on Tuesday, March 24th. The company reported $2.61 earnings per share for the quarter, missing analysts' consensus estimates of $2.65 by ($0.04). Concentrix had a positive return on equity of 17.80% and a negative net margin of 13.35%.The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the prior year, the business earned $2.79 EPS. Concentrix's quarterly revenue was up 5.4% on a year-over-year basis. As a group, analysts anticipate that Concentrix Corporation will post 10.42 earnings per share for the current year.

Concentrix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 5th. Investors of record on Friday, April 24th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Friday, April 24th. Concentrix's dividend payout ratio (DPR) is currently -6.68%.

Insiders Place Their Bets

In other news, CFO Andre S. Valentine bought 2,500 shares of the stock in a transaction that occurred on Thursday, April 9th. The stock was acquired at an average price of $27.95 per share, with a total value of $69,875.00. Following the completion of the purchase, the chief financial officer directly owned 89,066 shares of the company's stock, valued at approximately $2,489,394.70. This represents a 2.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Concentrix

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Huntington National Bank increased its stake in Concentrix by 6,011.1% in the third quarter. Huntington National Bank now owns 550 shares of the company's stock valued at $25,000 after purchasing an additional 541 shares in the last quarter. Quent Capital LLC bought a new stake in Concentrix in the third quarter valued at $29,000. Larson Financial Group LLC increased its stake in Concentrix by 224.9% in the third quarter. Larson Financial Group LLC now owns 692 shares of the company's stock valued at $32,000 after purchasing an additional 479 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Concentrix by 532.7% in the first quarter. Geneos Wealth Management Inc. now owns 620 shares of the company's stock valued at $34,000 after purchasing an additional 522 shares in the last quarter. Finally, Rothschild Investment LLC increased its stake in Concentrix by 14,980.0% in the third quarter. Rothschild Investment LLC now owns 754 shares of the company's stock valued at $35,000 after purchasing an additional 749 shares in the last quarter. 90.34% of the stock is owned by institutional investors.

Concentrix Company Profile

Concentrix Inc NASDAQ: CNXC is a global business services company specializing in customer engagement solutions and technology‐driven business process outsourcing. The firm’s offerings encompass customer care delivered across voice and digital channels, back‐office processing, analytics and consulting, and automated workflow management. By integrating proprietary platforms, strategic partnerships and advanced automation, Concentrix helps clients enhance customer experiences and streamline operations.

Its capabilities extend to digital marketing and technology implementation, leveraging artificial intelligence, machine learning and data analytics to optimize customer journeys.

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