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

Concentrix Co. (NASDAQ:CNXC) announced a quarterly dividend on Wednesday, September 25th, Zacks reports. Stockholders of record on Friday, October 25th will be given a dividend of 0.333 per share on Tuesday, November 5th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, October 25th. This is a positive change from Concentrix’s previous quarterly dividend of $0.30.

Concentrix has a dividend payout ratio of 10.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Concentrix to earn $11.02 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 12.1%.

Concentrix Stock Down 1.0 %

CNXC stock opened at $44.69 on Thursday. The firm has a market cap of $2.90 billion, a PE ratio of 14.51, a P/E/G ratio of 0.62 and a beta of 0.58. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.57 and a current ratio of 1.57. The firm’s fifty day moving average is $61.66 and its 200 day moving average is $62.10. Concentrix has a one year low of $44.18 and a one year high of $106.10.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings results on Wednesday, September 25th. The company reported $2.87 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.06). The business had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Concentrix had a return on equity of 16.57% and a net margin of 2.18%. The business’s quarterly revenue was up 46.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.54 earnings per share. On average, research analysts forecast that Concentrix will post 10.18 EPS for the current year.

Insider Activity at Concentrix

In related news, EVP Cormac J. Twomey sold 400 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $74.63, for a total value of $29,852.00. Following the completion of the sale, the executive vice president now owns 29,327 shares in the company, valued at $2,188,674.01. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Concentrix news, EVP Cormac J. Twomey sold 1,544 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $51.38, for a total value of $79,330.72. Following the transaction, the executive vice president now directly owns 27,783 shares of the company’s stock, valued at approximately $1,427,490.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Cormac J. Twomey sold 400 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $74.63, for a total transaction of $29,852.00. Following the completion of the transaction, the executive vice president now directly owns 29,327 shares in the company, valued at $2,188,674.01. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,167 shares of company stock worth $653,747 in the last 90 days. 3.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Barrington Research dropped their price target on shares of Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, September 26th. Baird R W upgraded shares of Concentrix to a “strong-buy” rating in a report on Thursday, October 3rd. Canaccord Genuity Group decreased their price target on shares of Concentrix from $125.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, September 26th. Bank of America decreased their price target on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, September 26th. Finally, Robert W. Baird initiated coverage on shares of Concentrix in a research report on Thursday, October 3rd. They set an “outperform” rating and a $70.00 price objective for the company. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $79.00.

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.