The stock of Concentrix Corporation (NASDAQ:CNXC) increased by $1.92 on Wednesday to $74.80, up 2.63 percent. The last five days have seen an average of 375,804 shares of common stock traded. 10 times new highs were reached in the current year, with a fall of -$58.15. The average number of shares traded over the last 20 days was 319,186, while the average volume over the last 50 days totaled 349,510.
CNXC stock appreciated 1.92% since last month. On 09/08/23, the company’s shares reached a one-month low of $70.58. The stock touched a high of $151.82 on 02/02/23, after rallying from a low of $70.58 in 52 weeks. The price of CNXC stock has declined by -43.83% or -$58.15 this year, reaching a new high 10 times. Still, the stock price is down -50.73% from the 52-week high.
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Insider Transactions
CNXC stock investors should be aware that Concentrix Corporation (CNXC) stock had its last reported insider trading activity 77 days ago on Jul 05. On Jul 05, EVP, Legal Fogarty Jane acquired 400 shares at $82.85 each. This transaction resulted in the insider spending $33,140. On Jul 03, Hayley Kathryn added 300 shares at a price of US$83.93. After the transaction, the insider now owns 2,155 shares. Director POLK DENNIS had earlier sold 10,000 shares on Mar 01 for $136.31 a share. The transaction was completed for $1,363,052.
Valuation Metrics
Concentrix Corporation (CNXC) has a trailing price-to-earnings (P/E) ratio of 10.35. Beta for the stock is 0.52. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.61, the price-to-book (PB) ratio of 1.34, and the price-to-cash flow ratio of 8.08.
Company paid $0.2750 per share in dividends, remained unchanged from $0.2750 last year. A $0.0250 dividend increase was reported on Wednesday September 28 2022.
Financial Health
For the three months ended May 30, Concentrix Corporation’s quick ratio was 1.70, while its current ratio was 1.70, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending May 30 is 0.75, and the total debt to equity ratio is 0.75. As far as profitability goes, gross margin for the trailing twelve months is 35.90% percent. Concentrix Corporation’s EBITDA margin for the year ended May 30 was 16.12%, whereas its operating margin stood at 10.10% for the same period. Based on annual data, it had gross profit of $2.26 billion and revenue of $6.32 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. CNXC’s return on assets (ROA) during the last 12 months has been 5.60%. There was a 9.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 13.50%.
Earnings Surprise
According to Concentrix Corporation’s quarterly financial report for the quarter that ended May 30. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.61 billion, while revenues rose by 2.87% to $1.64 billion. It was predicted that Concentrix Corporation’s quarterly earnings would be $2.69, but it ended up being $2.75, beating the consensus by -2.20%. EBITDA was $240.2 million for the quarter. At the end of Concentrix Corporation’s most recent quarter ended May 30, its liabilities totaled 3.71 billion, while its total debt was $2.61 billion. Equity owned by shareholders amounts to $52.05 million.
Technical Picture
Here’s a quick look at Concentrix Corporation’s (CNXC) price momentum from a technical perspective. As of 19 September, the RSI 9-day stood at 51.75%, suggesting the stock is Neutral, with a 38.40% historical volatility rate.
The stochastic %K and %D were 30.89% and 30.08% respectively, while the average true range (ATR) was 2.02. Based on the 14-day stochastic reading of 41.17%, the RSI (14) reading is 48.06%. On the 9-day MACD Oscillator, the stock is at 0.54, and the 14-day reading is at -0.84.
Analyst Ratings
In its analyst report released on September 06, 2023, Redburn Atlantic began covering Concentrix Corporation (NASDAQ: CNXC). The stock was rated as a Neutral by the brokerage firm. Analysts have assigned Concentrix Corporation (CNXC) an Overweight rating. CNXC is a stock that is recommended for selling by 0 brokerage firms, while 2 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 3 others recommend it as a buy.
What is CNXC’s price target for the next 12 months?
The current consensus forecast for the stock is between $70.00 and $125.00, with a median target price of $98.00. In analyzing these forecasts, the average price target given by analysts for Concentrix Corporation (CNXC) is $101.60.
