Concentrix Co. (NASDAQ:CNXC) to Issue Quarterly Dividend of $0.30

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

Concentrix has a payout ratio of 9.4% indicating that its dividend is sufficiently covered by earnings. 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 Stock Up 0.0 %

Concentrix stock opened at $55.20 on Tuesday. The company has a market capitalization of $3.64 billion, a P/E ratio of 11.38, a P/E/G ratio of 0.63 and a beta of 0.48. The firm’s fifty day simple moving average is $66.94 and its 200-day simple moving average is $81.66. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.23. Concentrix has a 1-year low of $54.16 and a 1-year high of $106.44.

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

Analyst Ratings Changes

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

Insider Transactions at Concentrix

In other Concentrix news, CEO Christopher A. Caldwell acquired 900 shares of Concentrix stock in a transaction dated Friday, April 19th. The stock was bought at an average cost of $54.59 per share, with a total value of $49,131.00. Following the acquisition, the chief executive officer now owns 239,128 shares of the company’s stock, valued at $13,053,997.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders acquired 1,879 shares of company stock valued at $116,400. Company 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.