Concentrix Co. (CNXC) to Issue Quarterly Dividend of $0.30 on May 7th

Concentrix Co. (NASDAQ:CNXC) declared a quarterly dividend on Tuesday, March 26th, Zacks reports. Investors of record on Friday, April 26th will be paid a dividend of 0.303 per share on Tuesday, May 7th. This represents a $1.21 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Thursday, April 25th. This is an increase from Concentrix’s previous quarterly dividend of $0.30.

Concentrix has a dividend payout ratio of 9.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Concentrix to earn $12.31 per share next year, which means the company should continue to be able to cover its $1.21 annual dividend with an expected future payout ratio of 9.8%.

Concentrix Price Performance

Shares of Concentrix stock opened at $55.20 on Tuesday. Concentrix has a twelve month low of $54.16 and a twelve month high of $106.44. The business has a 50-day moving average price of $66.94 and a 200 day moving average price of $81.66. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.23. The firm has a market cap of $3.64 billion, a PE ratio of 11.38, a P/E/G ratio of 0.63 and a beta of 0.48.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.03). The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Concentrix had a return on equity of 17.70% and a net margin of 3.53%. Sell-side analysts predict that Concentrix will post 11.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on CNXC. Bank of America reaffirmed an “underperform” rating and set a $60.00 price objective (down previously from $85.00) on shares of Concentrix in a research report on Wednesday, March 27th. Barrington Research lowered their price target on Concentrix from $121.00 to $84.00 and set an “outperform” rating on the stock in a report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Concentrix has an average rating of “Hold” and an average price target of $82.25.

Insider Buying and Selling at Concentrix

In other Concentrix news, CEO Christopher A. Caldwell purchased 900 shares of the business’s stock in a transaction on Friday, April 19th. The stock was bought at an average cost of $54.59 per share, for a total transaction of $49,131.00. Following the acquisition, the chief executive officer now owns 239,128 shares of the company’s stock, valued at approximately $13,053,997.52. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders acquired 1,879 shares of company stock worth $116,400. Insiders own 3.00% of the company’s stock.

Concentrix Company Profile

Concentrix Corporation engages in the provision of technology-infused customer experience (CX) solutions worldwide. The company provides CX process optimization, technology innovation, front- and back-office automation, analytics, and business transformation services, across various channels of communication, such as voice, chat, email, social media, asynchronous messaging, and custom applications.