Concentrix (NASDAQ:CNXC) Stock Price Up 8.2% - Here's Why

Key Points

• Concentrix shares rose 8.2% to approximately $32.56 in mid-day trading, although trading volume was 79% below the average daily level.
• The company exceeded quarterly EPS expectations, reporting $2.92 versus the $2.71 consensus estimate, while revenue of $2.45 billion slightly missed forecasts and declined 1.2% year over year.
• Concentrix increased its quarterly dividend to $0.37, representing a 4.3% annualized yield. Analyst sentiment remains mixed, with an average “Hold” rating and a $33.50 price target.

Concentrix Corporation (NASDAQ:CNXC - Get Free Report)'s share price rose 8.2% during mid-day trading on Thursday. The stock traded as high as $32.52 and last traded at $32.5550. 338,995 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 1,623,615 shares. The stock had previously closed at $30.10.

Wall Street Analysts Forecast Growth

CNXC has been the subject of several analyst reports. Zacks Research raised Concentrix from a "strong sell" rating to a "hold" rating in a report on Monday, August 31st. Canaccord Genuity Group reissued a "buy" rating and issued a $45.00 price target on shares of Concentrix in a research note on Wednesday, September 30th. Bank of America restated a "neutral" rating and set a $29.00 price objective on shares of Concentrix in a report on Thursday, October 1st. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Concentrix in a research note on Friday, July 24th. Finally, Barrington Research decreased their target price on shares of Concentrix from $38.00 to $30.00 and set an "outperform" rating for the company in a report on Tuesday, June 30th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Concentrix has an average rating of "Hold" and an average price target of $33.50.

Concentrix Price Performance

The company has a market capitalization of $2.09 billion, a P/E ratio of -0.88, a PEG ratio of 0.56 and a beta of 0.52. The stock's fifty day simple moving average is $27.63 and its 200-day simple moving average is $26.25. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.23 and a quick ratio of 1.23.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings data on Tuesday, September 29th. The company reported $2.92 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.21. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.48 billion. Concentrix had a positive return on equity of 25.00% and a negative net margin of 23.99%. Concentrix's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.78 EPS. Concentrix has set its FY 2026 guidance at 10.970-11.090 EPS and its Q4 2026 guidance at 2.860-2.980 EPS. On average, equities analysts forecast that Concentrix Corporation will post 9.77 earnings per share for the current fiscal year.

Concentrix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 3rd. Investors of record on Friday, October 23rd will be given a $0.37 dividend. The ex-dividend date is Friday, October 23rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.3%. This is an increase from Concentrix's previous quarterly dividend of $0.36. Concentrix's dividend payout ratio is currently -3.70%.

Institutional Investors Weigh In On Concentrix

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Concentrix during the second quarter worth $149,639,000. Pzena Investment Management LLC bought a new stake in Concentrix during the 2nd quarter worth about $76,488,000. Groupe Bruxelles Lambert acquired a new position in shares of Concentrix during the 2nd quarter worth about $68,000,000. Kopernik Global Investors LLC acquired a new position in shares of Concentrix during the 1st quarter worth about $44,523,000. Finally, Bank of America Corp DE acquired a new position in shares of Concentrix during the 2nd quarter worth about $18,248,000. 90.34% of the stock is owned by institutional investors.

About Concentrix

Concentrix Corporation NASDAQ: CNXC is a global technology and services company that helps businesses improve customer engagement and operational performance. Its offerings include customer experience management, digital operations, business process services, consulting, analytics, artificial intelligence, automation, and technology solutions.

The company supports customer care, technical support, sales, marketing, trust and safety, and back-office functions. Concentrix serves organizations across industries such as technology and electronics, retail, banking and financial services, healthcare, travel and transportation, communications and media, and automotive.

Concentrix operates across North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa.

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