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

Concentrix Co. (NASDAQ:CNXC - Get Free Report) announced a quarterly dividend on Wednesday, March 26th, Wall Street Journal reports. Investors of record on Friday, April 25th will be paid a dividend of 0.3328 per share on Tuesday, May 6th. This represents a $1.33 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Friday, April 25th.

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

Concentrix Trading Down 2.3 %

NASDAQ CNXC traded down $1.31 during trading on Monday, hitting $55.64. The company had a trading volume of 1,381,896 shares, compared to its average volume of 674,570. The company's fifty day moving average is $48.20 and its 200-day moving average is $47.38. Concentrix has a one year low of $36.28 and a one year high of $77.00. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 0.63 and a beta of 0.69.

Concentrix (NASDAQ:CNXC - Get Free Report) last issued its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.58 by $0.21. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same period last year, the business posted $2.57 earnings per share. Concentrix's quarterly revenue was down 1.3% compared to the same quarter last year. On average, sell-side analysts predict that Concentrix will post 10.11 earnings per share for the current year.

Remove Ads

Insider Activity at Concentrix

In related news, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $55.60, for a total transaction of $27,800.00. Following the sale, the executive vice president now directly owns 41,111 shares of the company's stock, valued at $2,285,771.60. This trade represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.20% of the stock is owned by insiders.

Analyst Ratings Changes

CNXC has been the subject of a number of research reports. Bank of America increased their price objective on Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Thursday. Canaccord Genuity Group cut their price objective on shares of Concentrix from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Finally, Barrington Research lowered their target price on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating for the company in a report on Monday, March 24th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Concentrix has a consensus rating of "Buy" and a consensus target price of $69.60.

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.