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

Concentrix Co. (NASDAQ:CNXC) announced a quarterly dividend on Thursday, March 27th, Wall Street Journal reports. Investors of record on Friday, April 25th will be given a dividend of 0.3328 per share on Tuesday, May 6th. This represents a $1.33 annualized dividend and a yield of 2.05%. The ex-dividend date is Friday, April 25th.

Concentrix has increased its dividend by an average of 35.4% per year over the last three years. Concentrix has a payout ratio of 10.6% indicating that its dividend is sufficiently covered by earnings.

Concentrix Price Performance

CNXC stock opened at $65.04 on Friday. The company has a market capitalization of $4.18 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 0.63 and a beta of 0.69. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.42 and a current ratio of 1.42. Concentrix has a 52-week low of $36.28 and a 52-week high of $77.00. The business has a 50-day simple moving average of $47.90 and a two-hundred day simple moving average of $47.85.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.21. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.57 earnings per share. Research analysts expect that Concentrix will post 10.11 EPS for the current fiscal year.

Insider Activity at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $55.60, for a total value of $27,800.00. Following the completion of the transaction, the executive vice president now owns 41,111 shares in the company, valued at $2,285,771.60. This trade represents a 1.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on CNXC. Bank of America increased their price target on shares of Concentrix from $58.00 to $59.00 and gave the company a “neutral” rating in a research report on Thursday. Canaccord Genuity Group dropped their price target on Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Barrington Research decreased their price objective on Concentrix from $70.00 to $54.00 and set an “outperform” rating for the company in a report on Monday. One investment 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 MarketBeat, Concentrix currently has a consensus rating of “Buy” and an average target price of $69.60.

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.