Concentrix Co. (CNXC) to Issue Quarterly Dividend of $0.33 on November 5th

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 2.95%. The ex-dividend date is Friday, October 25th. This is an increase from Concentrix’s previous quarterly dividend of $0.30.

Concentrix has a 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 Trading Down 4.2 %

Concentrix stock opened at $45.16 on Wednesday. Concentrix has a one year low of $44.95 and a one year high of $106.10. The company’s fifty day moving average price is $62.04 and its two-hundred day moving average price is $62.19. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 0.67 and a beta of 0.58.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on CNXC shares. 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. Baird R W raised Concentrix to a “strong-buy” rating in a report on Thursday, October 3rd. Canaccord Genuity Group decreased their price objective on Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, September 26th. Bank of America cut their target price on 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 report on Thursday, October 3rd. They issued an “outperform” rating and a $70.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $79.00.

Insider Buying and Selling

In other Concentrix news, EVP Cormac J. Twomey sold 400 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $74.63, for a total value of $29,852.00. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Cormac J. Twomey sold 1,544 shares of Concentrix stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $51.38, for a total value of $79,330.72. Following the completion of the transaction, the executive vice president now directly owns 27,783 shares of the company’s stock, valued at $1,427,490.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Cormac J. Twomey sold 400 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $74.63, for a total transaction of $29,852.00. Following the sale, the executive vice president now directly owns 29,327 shares in the company, valued at approximately $2,188,674.01. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,167 shares of company stock worth $653,747 in the last 90 days. 3.00% of the stock is owned by company insiders.

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.