Concentrix Co. (CNXC) to Issue Quarterly Dividend of $0.33 on February 11th

Concentrix Co. (NASDAQ:CNXC) declared a quarterly dividend on Wednesday, January 15th,Wall Street Journal reports. Investors of record on Friday, January 31st will be given a dividend of 0.3328 per share on Tuesday, February 11th. This represents a $1.33 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Friday, January 31st.

Concentrix has increased its dividend payment by an average of 70.6% annually over the last three years. Concentrix has a dividend payout ratio of 10.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Concentrix to earn $10.57 per share next year, which means the company should continue to be able to cover its $1.33 annual dividend with an expected future payout ratio of 12.6%.

Concentrix Price Performance

CNXC stock traded up $0.18 during mid-day trading on Friday, hitting $48.96. The stock had a trading volume of 913,162 shares, compared to its average volume of 875,715. The firm has a fifty day simple moving average of $43.46 and a 200 day simple moving average of $54.94. Concentrix has a 52 week low of $36.28 and a 52 week high of $106.10. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $3.17 billion, a P/E ratio of 15.90, a P/E/G ratio of 0.60 and a beta of 0.63.

Concentrix (NASDAQ:CNXC) last released its earnings results on Wednesday, January 15th. The company reported $3.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.01 by $0.25. The firm had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Concentrix had a return on equity of 16.57% and a net margin of 2.18%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.36 earnings per share. As a group, research analysts forecast that Concentrix will post 10.11 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on CNXC. Canaccord Genuity Group decreased their target price on shares of Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday. Barrington Research reduced their price objective on Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, September 26th. Baird R W upgraded Concentrix to a “strong-buy” rating in a research report on Thursday, October 3rd. Bank of America reduced their price target on Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, September 26th. Finally, Robert W. Baird initiated coverage on shares of Concentrix in a report on Thursday, October 3rd. They issued an “outperform” rating and a $70.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Concentrix presently has a consensus rating of “Buy” and an average target price of $75.00.

About Concentrix

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.