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

Concentrix Co. (NASDAQ:CNXC) declared a quarterly dividend on Tuesday, March 26th, Zacks reports. Stockholders of record on Friday, April 26th will be given a dividend of 0.303 per share on Tuesday, May 7th. This represents a $1.21 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Thursday, April 25th. This is a boost from Concentrix’s previous quarterly dividend of $0.30.

Concentrix has a payout ratio of 9.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Concentrix to earn $12.56 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 9.6%.

Concentrix Price Performance

CNXC stock opened at $65.20 on Thursday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.19. Concentrix has a one year low of $59.23 and a one year high of $125.80. The firm has a market capitalization of $4.32 billion, a PE ratio of 11.30, a P/E/G ratio of 0.66 and a beta of 0.50. The firm has a 50-day moving average of $78.34 and a two-hundred day moving average of $83.61.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings data on Wednesday, January 24th. The company reported $3.07 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.15. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.20 billion. Concentrix had a net margin of 3.53% and a return on equity of 18.77%. On average, analysts forecast that Concentrix will post 11.26 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP bought a new position in shares of Concentrix during the first quarter valued at $26,000. KBC Group NV acquired a new stake in Concentrix in the fourth quarter worth about $83,000. State of Wyoming grew its position in shares of Concentrix by 388.1% during the 2nd quarter. State of Wyoming now owns 1,064 shares of the company’s stock worth $86,000 after buying an additional 846 shares during the period. Royal Bank of Canada grew its position in shares of Concentrix by 80.4% during the 3rd quarter. Royal Bank of Canada now owns 1,097 shares of the company’s stock worth $122,000 after buying an additional 489 shares during the period. Finally, Advisors Asset Management Inc. grew its position in shares of Concentrix by 36.1% during the 4th quarter. Advisors Asset Management Inc. now owns 1,214 shares of the company’s stock worth $162,000 after buying an additional 322 shares during the period. 90.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CNXC has been the topic of several analyst reports. Barrington Research dropped their price target on shares of Concentrix from $121.00 to $84.00 and set an “outperform” rating on the stock in a research note on Wednesday. Bank of America reiterated an “underperform” rating and set a $60.00 price target (down previously from $85.00) on shares of Concentrix in a report on Wednesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $95.80.

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.