Concentrix Co. (NASDAQ:CNXC - Get Free Report) announced a quarterly dividend on Thursday, January 16th,Wall Street Journal reports. Shareholders of record on Friday, January 31st will be paid a dividend of 0.3328 per share on Tuesday, February 11th. This represents a $1.33 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Friday, January 31st.
Concentrix has raised its dividend payment by an average of 70.6% per year 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%.
Shares of Concentrix stock traded up $1.31 during trading on Thursday, reaching $48.78. 2,013,574 shares of the company's stock were exchanged, compared to its average volume of 837,848. The company has a market cap of $3.16 billion, a P/E ratio of 15.84, a PEG ratio of 0.60 and a beta of 0.63. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.57 and a current ratio of 1.57. Concentrix has a 1-year low of $36.28 and a 1-year high of $106.10. The firm's 50-day moving average price is $43.34 and its 200 day moving average price is $54.98.
Concentrix (NASDAQ:CNXC - Get Free Report) last posted its earnings results on Wednesday, January 15th. The company reported $3.26 EPS for the quarter, topping the consensus estimate of $3.01 by $0.25. Concentrix had a net margin of 2.18% and a return on equity of 16.57%. The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period last year, the company earned $3.36 EPS. The firm's revenue was up 9.7% compared to the same quarter last year. As a group, research analysts anticipate that Concentrix will post 10.11 earnings per share for the current year.
Several research firms have weighed in on CNXC. Bank of America lowered their price objective on shares of Concentrix from $85.00 to $70.00 and set a "neutral" rating on the stock in a report on Thursday, September 26th. Barrington Research dropped their price target on shares of Concentrix from $84.00 to $70.00 and set an "outperform" rating on the stock in a research 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 dropped their target price on Concentrix from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Robert W. Baird began coverage on Concentrix in a report on Thursday, October 3rd. They set an "outperform" rating and a $70.00 price target for the company. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $75.00.
Check Out Our Latest Research Report on CNXC
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.
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