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

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

Concentrix has a payout ratio of 9.2% indicating that its dividend is sufficiently covered by earnings. Research 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 stock opened at $62.77 on Friday. The company’s fifty day simple moving average is $60.23 and its 200-day simple moving average is $73.54. Concentrix has a 52 week low of $53.89 and a 52 week high of $106.10. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.23. The company has a market cap of $4.14 billion, a PE ratio of 14.53, a P/E/G ratio of 0.68 and a beta of 0.60.

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). The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.38 billion. Concentrix had a net margin of 3.08% and a return on equity of 17.42%. As a group, equities research analysts anticipate that Concentrix will post 11.03 EPS for the current year.

Insider Buying and Selling at Concentrix

In related news, CEO Christopher A. Caldwell acquired 900 shares of the company’s stock in a transaction on Friday, April 19th. The shares were purchased at an average price of $54.59 per share, for a total transaction of $49,131.00. Following the purchase, the chief executive officer now owns 239,128 shares in the company, valued at $13,053,997.52. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have purchased 1,679 shares of company stock worth $98,546. 3.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.