Scotiabank Weighs in on Concentrix FY2024 Earnings

Concentrix Co. (NASDAQ:CNXC) – Equities researchers at Scotiabank issued their FY2024 earnings estimates for Concentrix in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst D. Goyal expects that the company will earn $10.04 per share for the year. The consensus estimate for Concentrix’s current full-year earnings is $10.18 per share. Scotiabank also issued estimates for Concentrix’s FY2025 earnings at $10.11 EPS.

Several other research analysts also recently commented on the stock. Baird R W raised shares of Concentrix to a “strong-buy” rating in a research note on Thursday, October 3rd. Barrington Research lowered their price target on shares of Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, September 26th. Bank of America cut their price objective on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, September 26th. Robert W. Baird assumed coverage on Concentrix in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $70.00 price target on the stock. Finally, Canaccord Genuity Group cut their price target on Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, September 26th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $79.00.

Concentrix Stock Performance

Shares of NASDAQ CNXC opened at $45.60 on Friday. Concentrix has a 1-year low of $36.28 and a 1-year high of $106.10. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 0.56 and a beta of 0.63. The stock’s 50-day moving average is $42.97 and its 200 day moving average is $55.41. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.18.

Institutional Investors Weigh In On Concentrix

Several institutional investors have recently modified their holdings of the business. State Street Corp lifted its holdings in shares of Concentrix by 1.3% during the 3rd quarter. State Street Corp now owns 1,401,953 shares of the company’s stock valued at $71,850,000 after buying an additional 18,304 shares during the period. GSA Capital Partners LLP bought a new position in Concentrix in the third quarter valued at about $1,243,000. Raymond James & Associates boosted its position in Concentrix by 73.3% in the third quarter. Raymond James & Associates now owns 55,313 shares of the company’s stock worth $2,835,000 after purchasing an additional 23,387 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Concentrix by 24.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 64,783 shares of the company’s stock valued at $3,319,000 after purchasing an additional 12,870 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in shares of Concentrix during the 3rd quarter valued at about $1,255,000. 90.34% of the stock is owned by hedge funds and other institutional investors.

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.