BUZZ-Concentrix drops to record low after Q3 profit miss

Reuters09-27

** Shares of customer experience firm Concentrix slide 16.1% to $53.4 in day trading, hitting all-time low ** Company posts Q3 adj. EPS of $2.87, below analysts' estimates of $2.93 per share - LSEG data

** Co forecasts FY24 non-GAAP earnings of $11.05 - $11.31 per share, below expectations of $11.45/shr

** Co sees Q4 EPS non-gaap EPS of $2.90 to $3.16, below estimates of $3.23/shr

** At least two brokerages lower their PT on stock

** Co plans to repurchase $30 mln of stock in Q4, totaling over $130 mln in repurchases for fiscal 2024

** Including session's moves, CNXC stock down 45.5% YTD, compared with 20.94% increase in Nasdaq index

(Reporting by Nikhil Sharma in Bengaluru) ((mailto:Nikhil.Sharma@thomsonreuters.com;))

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