Concentrix Co. (NASDAQ:CNXC) Plans Quarterly Dividend of $0.33

Concentrix Co. (NASDAQ:CNXC) declared a quarterly dividend on Wednesday, September 25th, Zacks reports. Stockholders of record on Friday, October 25th will be given a dividend of 0.333 per share on Tuesday, November 5th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Friday, October 25th. This is a boost from Concentrix’s previous quarterly dividend of $0.30.

Concentrix has a dividend payout ratio of 9.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Concentrix to earn $12.22 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 9.9%.

Concentrix Trading Down 19.0 %

NASDAQ CNXC opened at $51.54 on Friday. Concentrix has a 1-year low of $51.02 and a 1-year high of $106.10. The company has a current ratio of 1.54, a quick ratio of 1.56 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $3.35 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 0.67 and a beta of 0.61. The firm’s fifty day simple moving average is $67.59 and its 200-day simple moving average is $63.67.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings results on Wednesday, September 25th. The company reported $2.87 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.06). The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.38 billion. Concentrix had a return on equity of 17.00% and a net margin of 3.08%. The company’s revenue was up 46.2% compared to the same quarter last year. During the same period last year, the company posted $2.54 earnings per share. As a group, sell-side analysts anticipate that Concentrix will post 10.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 400 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $74.63, for a total transaction of $29,852.00. Following the completion of the sale, the executive vice president now directly owns 29,327 shares in the company, valued at $2,188,674.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Barrington Research decreased their price objective on shares of Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday. Bank of America decreased their price objective on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Canaccord Genuity Group decreased their price objective on shares of Concentrix from $125.00 to $100.00 and set a “buy” rating for the company in a report on Thursday. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.25.

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.