Why Business Services Company Concentrix's Shares Are Falling Today
Portfolio Pulse from Shivani Kumaresan
Concentrix Corporation's Q3 FY23 sales grew by 3.4% to $1.63 billion, missing the analyst consensus estimate of $1.64 billion. Adjusted EPS of $2.71 also missed the analyst consensus of $2.84. The company's Board of Directors declared a quarterly dividend of $0.3025 per share, a 10% increase. However, the company's shares are trading lower by 7.05% in premarket trading.
September 28, 2023 | 1:05 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Concentrix's Q3 FY23 results missed analyst estimates, leading to a drop in its share price. However, the company declared a 10% increase in its quarterly dividend.
Concentrix's lower-than-expected Q3 FY23 results have led to a decrease in its share price. Despite the increase in its quarterly dividend, the missed earnings and sales estimates have negatively impacted investor sentiment, leading to a sell-off in its shares.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100