Scotiabank Forecasts Concentrix FY2024 Earnings

Concentrix Co. (NASDAQ:CNXC) – Stock analysts at Scotiabank issued their FY2024 earnings estimates for shares of Concentrix in a report issued on Wednesday, January 8th. Scotiabank analyst D. Goyal anticipates that the company will post earnings of $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.

A number of other equities analysts also recently issued reports on the company. Robert W. Baird assumed coverage on Concentrix in a research note on Thursday, October 3rd. They set an “outperform” rating and a $70.00 price target for the company. Barrington Research decreased their price target on Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, September 26th. Canaccord Genuity Group dropped their price objective on Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, September 26th. Baird R W upgraded shares of Concentrix to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Bank of America dropped their price target on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, September 26th. One investment 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, the company has an average rating of “Buy” and a consensus price target of $79.00.

Concentrix Stock Down 0.4 %

Concentrix stock opened at $45.60 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.18. The firm’s fifty day moving average price is $42.97 and its two-hundred day moving average price is $55.41. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 0.56 and a beta of 0.63. Concentrix has a 1-year low of $36.28 and a 1-year high of $106.10.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNXC. GAMMA Investing LLC increased its holdings in Concentrix by 64.9% in the 3rd quarter. GAMMA Investing LLC now owns 729 shares of the company’s stock worth $37,000 after acquiring an additional 287 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Concentrix in the second quarter worth about $68,000. Quarry LP raised its position in shares of Concentrix by 769.9% in the second quarter. Quarry LP now owns 1,244 shares of the company’s stock valued at $79,000 after purchasing an additional 1,101 shares during the period. Quest Partners LLC purchased a new stake in shares of Concentrix during the 3rd quarter valued at approximately $146,000. Finally, Blue Trust Inc. boosted its holdings in Concentrix by 62.4% in the 3rd quarter. Blue Trust Inc. now owns 3,132 shares of the company’s stock worth $161,000 after buying an additional 1,204 shares during the period. 90.34% of the stock is currently 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.