Concentrix Corp. (NASDAQ: CNXC) has experienced a rise in its stock price by 9.98 compared to its previous closing price of 58.02. However, the company has seen a gain of 5.54% in its stock price over the last five trading days. seekingalpha.com reported 2024-06-26 that Concentrix Corporation (NASDAQ:CNXC ) Q2 2024 Earnings Conference Call June 26, 2024 5:00 PM ET Company Participants Sara Buda – Vice President of Investor Relations Chris Caldwell – President and Chief Executive Officer Andre Valentine – Chief Financial Officer Conference Call Participants Joseph Vafi – Canaccord Genuity Ruplu Bhattacharya – Bank of America Securities Divya Goyal – Scotiabank Vincent Colicchio – Barrington Research Operator Good day, everyone, and thank you for standing by. Welcome to the Concentrix Fiscal First (sic) [Second] Quarter 2024 Financial Results Conference Call.
Is It Worth Investing in Concentrix Corp. (NASDAQ: CNXC) Right Now?
The price-to-earnings ratio for Concentrix Corp. (NASDAQ: CNXC) is above average at 14.75x. The 36-month beta value for CNXC is also noteworthy at 0.64. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
The public float for CNXC is 47.27M, and at present, short sellers hold a 5.86% of that float. The average trading volume of CNXC on June 27, 2024 was 513.11K shares.
CNXC’s Market Performance
The stock of Concentrix Corp. (CNXC) has seen a 5.54% increase in the past week, with a 2.39% rise in the past month, and a -2.13% fall in the past quarter. The volatility ratio for the week is 3.30%, and the volatility levels for the past 30 days are at 3.08% for CNXC. The simple moving average for the past 20 days is 5.87% for CNXC’s stock, with a -16.09% simple moving average for the past 200 days.
Analysts’ Opinion of CNXC
Many brokerage firms have already submitted their reports for CNXC stocks, with BofA Securities repeating the rating for CNXC by listing it as a “Underperform.” The predicted price for CNXC in the upcoming period, according to BofA Securities is $60 based on the research report published on March 27, 2024 of the current year 2024.
Redburn Atlantic, on the other hand, stated in their research note that they expect to see CNXC reach a price target of $70. The rating they have provided for CNXC stocks is “Neutral” according to the report published on September 06th, 2023.
Scotiabank gave a rating of “Sector Outperform” to CNXC, setting the target price at $120 in the report published on August 24th of the previous year.
CNXC Trading at 6.49% from the 50-Day Moving Average
After a stumble in the market that brought CNXC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -39.86% of loss for the given period.
Volatility was left at 3.08%, however, over the last 30 days, the volatility rate increased by 3.30%, as shares surge +5.62% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +11.40% upper at present.
During the last 5 trading sessions, CNXC rose by +6.02%, which changed the moving average for the period of 200-days by -11.30% in comparison to the 20-day moving average, which settled at $60.44. In addition, Concentrix Corp. saw -35.03% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CNXC starting from Twomey Cormac J, who sale 400 shares at the price of $61.28 back on May 29 ’24. After this action, Twomey Cormac J now owns 30,527 shares of Concentrix Corp., valued at $24,512 using the latest closing price.
Twomey Cormac J, the EVP, Global Ops & Delivery of Concentrix Corp., sale 400 shares at $55.01 during a trade that took place back on Apr 29 ’24, which means that Twomey Cormac J is holding 30,927 shares at $22,004 based on the most recent closing price.
Stock Fundamentals for CNXC
Current profitability levels for the company are sitting at:
- 0.08 for the present operating margin
- 0.32 for the gross margin
The net margin for Concentrix Corp. stands at 0.03. The total capital return value is set at 0.07. Equity return is now at value 7.45, with 2.77 for asset returns.
Based on Concentrix Corp. (CNXC), the company’s capital structure generated 0.55 points at debt to capital in total, while cash flow to debt ratio is standing at 0.13. The debt to equity ratio resting at 1.21. The interest coverage ratio of the stock is 2.36.
Currently, EBITDA for the company is 997.53 million with net debt to EBITDA at 4.12. When we switch over and look at the enterprise to sales, we see a ratio of 1.04. The receivables turnover for the company is 4.62for trailing twelve months and the total asset turnover is 0.72. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.54.
Conclusion
In summary, Concentrix Corp. (CNXC) has had a mixed performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
