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

Concentrix Co. (NASDAQ:CNXC) announced a quarterly dividend on Wednesday, January 15th,Wall Street Journal reports. Stockholders of record on Friday, January 31st will be given a dividend of 0.3328 per share on Tuesday, February 11th. This represents a $1.33 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, January 31st.

Concentrix has increased its dividend payment by an average of 70.6% annually over the last three years. Concentrix has a dividend payout ratio of 10.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Concentrix to earn $10.57 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 12.6%.

Concentrix Trading Up 0.4 %

CNXC stock traded up $0.18 during midday trading on Friday, hitting $48.96. The stock had a trading volume of 913,162 shares, compared to its average volume of 875,715. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.18. The business has a fifty day moving average price of $43.46 and a two-hundred day moving average price of $54.94. Concentrix has a 1-year low of $36.28 and a 1-year high of $106.10. The firm has a market cap of $3.17 billion, a P/E ratio of 15.90, a price-to-earnings-growth ratio of 0.60 and a beta of 0.63.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $3.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.01 by $0.25. The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.44 billion. Concentrix had a return on equity of 16.57% and a net margin of 2.18%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.36 EPS. On average, sell-side analysts predict that Concentrix will post 10.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on CNXC. Bank of America reduced their price objective on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, September 26th. Baird R W raised shares of Concentrix to a “strong-buy” rating in a research note on Thursday, October 3rd. Barrington Research dropped their price objective on shares of Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. Robert W. Baird assumed coverage on Concentrix in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $70.00 target price for the company. Finally, 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 note on Thursday. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $75.00.

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.