Savvy Trades and Investments

[researcher59]

CNXC -15 to 88, looks oversold. Nov Q4 earnings beat estimates, but guidance for Q1 and 2024 was mildly disappointing. It's now trading at a forward PE of merely 7.3 based on FY24 adj EPS guidance of $12.10 midpoint. For FY23 they posted adj EPS of 11.45. Concentrix is a business services company.

briefing -

Concentrix beats by $0.29, beats on revs; guides Q1 EPS below consensus, revs below consensus; guides FY24 EPS below consensus, revs below consensus (103.90 -0.54) :
Reports Q4 (Nov) earnings of $3.36 per share, excluding non-recurring items, $0.29 better than the FactSet Consensus of $3.07; revenues rose 36.0% year/year to $2.23 bln vs the $2.2 bln FactSet Consensus.
Co issues downside guidance for Q1 (Feb), sees EPS of $2.51-2.65, excluding non-recurring items, vs. $3.17 FactSet Consensus; sees Q1 revs of $2.360-2.406 bln vs. $2.45 bln FactSet Consensus.
Co issues downside guidance for FY24, sees EPS of $11.69-12.50, excluding non-recurring items, vs. $12.81 FactSet Consensus; sees FY24 revs of $9.51-9.70 bln vs. $9.8 bln FactSet Consensus.

For chart technicians, there's a notable gap in the low $80's from back in November that might get filled ....

I picked up a small starter position this morning.

https://ir.concentrix.com/news-releases/news-release-details/concentrix-reports-fiscal-2023-fourth-quarter-and-full-year