Concentrix Corporation (NASDAQ:CNXC) Declares Quarterly Dividend of $0.36
by Danessa Lincoln · The Markets DailyConcentrix Corporation (NASDAQ:CNXC – Get Free Report) declared a quarterly dividend on Tuesday, March 24th. Stockholders of record on Friday, April 24th will be given a dividend of 0.36 per share on Tuesday, May 5th. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Friday, April 24th.
Concentrix has a payout ratio of 11.3% meaning its dividend is sufficiently covered by earnings.
Concentrix Trading Down 19.9%
Shares of NASDAQ CNXC traded down $6.56 during midday trading on Tuesday, hitting $26.48. The stock had a trading volume of 7,681,837 shares, compared to its average volume of 1,460,749. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -1.27, a PEG ratio of 0.33 and a beta of 0.50. Concentrix has a 1-year low of $24.27 and a 1-year high of $66.00. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.67. The company has a fifty day moving average price of $35.59 and a 200 day moving average price of $40.53.
Concentrix (NASDAQ:CNXC – Get Free Report) last posted its earnings results on Tuesday, March 24th. The company reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.03). Concentrix had a positive return on equity of 16.91% and a negative net margin of 13.02%.The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the company posted $2.79 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, analysts predict that Concentrix will post 10.11 earnings per share for the current year.
Analyst Ratings Changes
CNXC has been the subject of several recent research reports. Barrington Research reissued an “outperform” rating and issued a $62.00 price objective on shares of Concentrix in a research report on Tuesday, March 17th. Robert W. Baird set a $52.00 target price on shares of Concentrix in a report on Wednesday, January 14th. Wall Street Zen upgraded Concentrix from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Finally, Weiss Ratings lowered Concentrix from a “hold (c-)” rating to a “sell (d)” rating in a research report on Thursday, January 29th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $63.75.
Read Our Latest Stock Analysis on CNXC
Concentrix Company Profile
Concentrix Inc (NASDAQ: CNXC) is a global business services company specializing in customer engagement solutions and technology‐driven business process outsourcing. The firm’s offerings encompass customer care delivered across voice and digital channels, back‐office processing, analytics and consulting, and automated workflow management. By integrating proprietary platforms, strategic partnerships and advanced automation, Concentrix helps clients enhance customer experiences and streamline operations.
Its capabilities extend to digital marketing and technology implementation, leveraging artificial intelligence, machine learning and data analytics to optimize customer journeys.