Concentrix Corporation CNXC is scheduled to release fourth-quarter fiscal 2024 results on Jan. 15, after market close.
See Zacks Earnings Calendar to stay ahead of market-making news.
CNXC surpassed the Zacks Consensus Estimate in two of the past four quarters and missed twice, the earnings surprise being 2.3%, on average.
Concentrix Corporation Price, Consensus and EPS Surprise
Concentrix Corporation price-consensus-eps-surprise-chart | Concentrix Corporation Quote
Concentrix’s Q4 Expectations
The Zacks Consensus Estimate for revenues is pegged at $9.6 billion, suggesting a 35.2% increase from the year-ago quarter’s actual. The top line is estimated to have been driven by an increase in client requests for transformation investments in exchange for longer contracts.
We anticipate technology leadership to have allowed the company to drive automation to enhance performance and lower costs for the client while improving the customer experience.
Recently, the company launched iX Hello, which is CNXC’s first product in its new Intelligent Experience Technology Suite focussed on assisting organizations to harness the power of Gen-AI across their operations.
This above-mentioned product, which integrates across internal applications to boost clients’ productivity, visibility and quality of work with an on-brand, compliant, and secure environment, is likely to have resulted in more client wins, thereby boosting CNXC’s top line.
The consensus estimate for earnings is pegged at $11.1 per share, indicating a 2.9% decline on a year-over-year basis.
What Our Model Predicts for CNXC
Our proven model does not conclusively predict an earnings beat for Concentrix this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here. You can uncover the best stocks before they are reported with our Earnings ESP Filter.
CNXC has an Earnings ESP of 0.00% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings Snapshot of CNXC’s Peers
ABM Industries Incorporated ABM reported impressive fourth-quarter fiscal 2024 results.
ABM’s EPS (excluding $1.1 from non-recurring items) was 90 cents, which outpaced the Zacks Consensus Estimate by 4.7% while declining 10.9% on a year-over-year basis. Total revenues of $2.2 billion surpassed the consensus mark by 4.3% and increased 4% from the year-ago quarter.
TransUnion TRU posted impressive third-quarter 2024 results.
TRU’s quarterly adjusted earnings (adjusting 69 cents from non-recurring items) of $1 per share surpassed the consensus mark by 2% and increased 14.3% on a year-over-year basis. Total revenues of $1.1 billion outpaced the consensus mark by 2.2% and increased 12% from the year-ago quarter.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners UpABM Industries Incorporated (ABM) : Free Stock Analysis Report
Concentrix Corporation (CNXC) : Free Stock Analysis Report
TransUnion (TRU) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
