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published in Blogs
Oct 01, 2022

Concentrix (CNXC, $109.76) misses Q3 Zacks Consensus Estimate

Concentrix Corporation posted its latest quarter earnings and revenue, both growing from the year-ago levels, but lagging consensus estimates (according to Zacks Equity Research report).

The company posted its third quarter (ending August) adjusted earnings of $2.95 per share, that fell short of Zacks Consensus Estimate of $2.97 per share. The figure, however, was higher than the year-ago quarter’s $2.49 per share.

Revenues grew to $1.58 billion (from year-ago level of $1.4 billion), missing the Zacks Consensus Estimate by 0.67%.

Related Ticker: CNXC

CNXC's Indicator enters downward trend

The Aroon Indicator for CNXC entered a downward trend on August 24, 2023. Tickeron's A.I.dvisor identified a pattern where the AroonDown red line was above 70 while the AroonUp green line was below 30 for three straight days. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options. A.I.dvisor looked at 179 similar instances where the Aroon Indicator formed such a pattern. In of the 179 cases the stock moved lower. This puts the odds of a downward move at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

CNXC moved below its 50-day moving average on September 05, 2023 date and that indicates a change from an upward trend to a downward trend.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where CNXC declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

CNXC broke above its upper Bollinger Band on August 29, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Bullish Trend Analysis

The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where CNXC's RSI Indicator exited the oversold zone, of 24 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 49 cases where CNXC's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Momentum Indicator moved above the 0 level on September 21, 2023. You may want to consider a long position or call options on CNXC as a result. In of 86 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for CNXC just turned positive on September 20, 2023. Looking at past instances where CNXC's MACD turned positive, the stock continued to rise in of 40 cases over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where CNXC advanced for three days, in of 245 cases, the price rose further within the following month. The odds of a continued upward trend are .

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is seriously undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.341) is normal, around the industry mean (3.946). P/E Ratio (10.173) is within average values for comparable stocks, (45.859). Projected Growth (PEG Ratio) (0.589) is also within normal values, averaging (1.336). Dividend Yield (0.015) settles around the average of (0.030) among similar stocks. P/S Ratio (0.585) is also within normal values, averaging (7.464).

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 83, placing this stock slightly better than average.

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating slightly worse than average price growth. CNXC’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.

Notable companies

The most notable companies in this group are Accenture PLC (NYSE:ACN), International Business Machines Corp (NYSE:IBM), Xerox Holdings Corp (NASDAQ:XRX), Unisys Corp (NYSE:UIS).

Industry description

The industry, whose total market cap runs into trillions, makes hardware/software that allows data to be stored, retrieved, transmitted, and manipulated on computers. With the ever-increasing relevance of data, the information technology (IT) industry has gained momentous growth over the years, and continues to thrive on innovation. Some of the behemoths in the industry are International Business Machines Corporation, Accenture, and VMware, Inc.

Market Cap

The average market capitalization across the Information Technology Services Industry is 7.68B. The market cap for tickers in the group ranges from 0 to 196.81B. ACN holds the highest valuation in this group at 196.81B. The lowest valued company is ARSC at 0.

High and low price notable news

The average weekly price growth across all stocks in the Information Technology Services Industry was -1%. For the same Industry, the average monthly price growth was -3%, and the average quarterly price growth was -3%. MBGH experienced the highest price growth at 211%, while SVPLF experienced the biggest fall at -71%.

Volume

The average weekly volume growth across all stocks in the Information Technology Services Industry was -57%. For the same stocks of the Industry, the average monthly volume growth was -47% and the average quarterly volume growth was -11%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 43
P/E Growth Rating: 66
Price Growth Rating: 60
SMR Rating: 70
Profit Risk Rating: 82
Seasonality Score: -17 (-100 ... +100)
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Technical Analysis# Of IndicatorsAvg. Odds
   
   
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A.I.Advisor
published price charts
A.I. Advisor
published General Information

General Information

a developer of active thermal coal operations

Industry InformationTechnologyServices

Profile
Fundamentals
Details
Industry
Coal
Address
39899 Balentine Drive
Phone
+1 800 747-0583
Employees
315000
Web
https://www.concentrix.com
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CNXC and

Correlation & Price change

A.I.dvisor indicates that over the last year, CNXC has been loosely correlated with FLYW. These tickers have moved in lockstep 58% of the time. This A.I.-generated data suggests there is some statistical probability that if CNXC jumps, then FLYW could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To CNXC
1D Price
Change %
CNXC100%
-0.75%
FLYW - CNXC
58%
Loosely correlated
+0.69%
PSFE - CNXC
54%
Loosely correlated
-1.88%
TTEC - CNXC
53%
Loosely correlated
+0.08%
G - CNXC
52%
Loosely correlated
-0.14%
AI - CNXC
52%
Loosely correlated
-4.44%
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