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

Concentrix Co. (NASDAQ:CNXC) announced a quarterly dividend on Wednesday, June 26th, Zacks reports. Stockholders of record on Friday, July 26th will be paid a dividend of 0.303 per share on Tuesday, August 6th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, July 26th.

Concentrix has a payout ratio of 9.2% 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 Performance

Shares of CNXC opened at $62.77 on Friday. The stock has a market capitalization of $4.14 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 0.68 and a beta of 0.60. The business’s fifty day moving average price is $60.23 and its 200 day moving average price is $73.54. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.56 and a quick ratio of 1.56. Concentrix has a 12-month low of $53.89 and a 12-month high of $106.10.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings results on Tuesday, March 26th. The company reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.03). Concentrix had a return on equity of 17.42% and a net margin of 3.08%. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.38 billion. Equities research analysts forecast that Concentrix will post 11.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CNXC shares. Canaccord Genuity Group reissued a “buy” rating and issued a $125.00 target price on shares of Concentrix in a report on Thursday. Scotiabank cut their price target on Concentrix from $120.00 to $85.00 and set a “sector outperform” rating on the stock in a report on Monday, April 29th. Barrington Research restated an “outperform” rating and set a $84.00 price objective on shares of Concentrix in a research report on Friday, June 21st. Finally, Bank of America reaffirmed an “underperform” rating and issued a $60.00 target price (down from $85.00) on shares of Concentrix in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Concentrix has an average rating of “Hold” and a consensus target price of $84.80.

Insider Transactions at Concentrix

In other Concentrix news, CEO Christopher A. Caldwell acquired 900 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The stock was acquired 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 directly owns 239,128 shares of the company’s stock, valued at approximately $13,053,997.52. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders acquired 1,679 shares of company stock worth $98,546. Company insiders own 3.00% of the company’s stock.

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.