Customer experience solutions provider Concentrix (NASDAQ: CNXC) will be reporting results this Thursday after the bell. Here’s what you need to know.
Concentrix met analysts’ revenue expectations last quarter, reporting revenues of $2.37 billion, down 1.3% year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts’ EPS estimates.
Is Concentrix a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Concentrix’s revenue to be flat year on year at $2.39 billion, slowing from the 47.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.75 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Concentrix has missed Wall Street’s revenue estimates twice over the last two years.
With Concentrix being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for professional services stocks. However, investors in the segment have had steady hands going into earnings, with share prices up 1.2% on average over the last month. Concentrix is down 5.5% during the same time and is heading into earnings with an average analyst price target of $67 (compared to the current share price of $54.35).
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