The customer experience company Concentrix (NASDAQ: CNXC), which reports earnings later this week following the market close, has some key points for investors to watch out for.
Last quarter, Concentrix matched the revenue projections set by financial analysts, announcing earnings of $2.37 billion, which represents a decrease of 1.3% compared to the previous year. The company had reason to be pleased as they significantly exceeded the expected earnings per share (EPS) forecasts.
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Analysts anticipate that this quarter, Concentrix will report a stable revenue of $2.39 billion compared to the previous year, marking a significant slowdown from the 47.4% growth they saw in the corresponding period last year. They also predict adjusted earnings per share to reach approximately $2.75.
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.
As Concentrix leads its peers in reporting earnings this quarter, it stands as our primary source of insight into how professional services stocks might perform. Investors within the sector appear confident leading up to these reports, driving their stock prices up by approximately 1.2% over the past month. Despite this general trend, shares of Concentrix have dipped by 5.5%, currently trading below analysts' average price target of $67 per share, which contrasts sharply with today’s market value of around $54.35.
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