Concentrix (NASDAQ:CNXC) Shares Down 6% - What's Next?

Key Points

• Concentrix shares fell 6% to about $28.39, although trading volume was unusually low at roughly 46,000 shares versus a 1.6 million average.
• Analyst sentiment is mixed but centers on a “Hold” rating, with a consensus price target of $32.75; several firms recently cut their targets, citing pressure on the company.
• Concentrix narrowly missed quarterly earnings and revenue estimates, while reporting a negative 13.16% net margin and a debt-to-equity ratio of 1.46. The company maintains a quarterly dividend of $0.36, representing an annualized yield of about 5%.

Concentrix Corporation (NASDAQ:CNXC - Get Free Report) traded down 6% on Thursday . The stock traded as low as $28.87 and last traded at $28.3850. Approximately 46,009 shares traded hands during trading, a decline of 97% from the average daily volume of 1,598,258 shares. The stock had previously closed at $30.21.

Wall Street Analyst Weigh In

CNXC has been the subject of a number of analyst reports. Zacks Research upgraded Concentrix from a "strong sell" rating to a "hold" rating in a research report on Monday, August 31st. Robert W. Baird cut their price objective on shares of Concentrix from $40.00 to $30.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 30th. Barrington Research reduced their target price on shares of Concentrix from $38.00 to $30.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 30th. Canaccord Genuity Group lowered their target price on shares of Concentrix from $55.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Finally, Bank of America dropped their price target on shares of Concentrix from $32.00 to $26.00 and set a "neutral" rating for the company in a research note on Tuesday, June 30th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $32.75.

Concentrix Price Performance

The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $1.77 billion, a P/E ratio of -1.36, a price-to-earnings-growth ratio of 0.56 and a beta of 0.47. The stock has a 50 day moving average of $26.84 and a 200-day moving average of $26.72.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings data on Monday, June 29th. The company reported $2.63 EPS for the quarter, missing the consensus estimate of $2.64 by ($0.01). Concentrix had a negative net margin of 13.16% and a positive return on equity of 19.82%. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period last year, the company earned $2.70 EPS. The business's revenue was up 1.9% compared to the same quarter last year. Concentrix has set its FY 2026 guidance at 10.830-11.180 EPS and its Q3 2026 guidance at 2.650-2.770 EPS. On average, equities research analysts anticipate that Concentrix Corporation will post 9.67 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 4th. Stockholders of record on Friday, July 24th were issued a $0.36 dividend. The ex-dividend date was Friday, July 24th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.0%. Concentrix's dividend payout ratio is presently -6.75%.

Institutional Investors Weigh In On Concentrix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNXC. BlackRock Inc. bought a new position in Concentrix in the 2nd quarter worth about $149,639,000. Pzena Investment Management LLC bought a new stake in shares of Concentrix during the second quarter valued at approximately $76,488,000. Dimensional Fund Advisors LP boosted its holdings in shares of Concentrix by 18.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,951,378 shares of the company's stock valued at $80,746,000 after purchasing an additional 460,108 shares during the period. Groupe Bruxelles Lambert purchased a new stake in shares of Concentrix in the second quarter valued at approximately $68,000,000. Finally, Kopernik Global Investors LLC bought a new position in Concentrix in the first quarter worth approximately $44,523,000. Institutional investors own 90.34% of the company's stock.

About Concentrix

Concentrix Corporation is a global technology and services company that helps organizations manage customer experience, business operations and digital transformation. Its offerings include customer care, technical support, sales and marketing services, back-office support, analytics, artificial intelligence and automation solutions.

The company serves clients across industries such as technology and consumer electronics, retail, banking and financial services, healthcare, communications and media, travel, and automotive.

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