PC Connection, Inc. (NASDAQ:CNXN) Announces $0.10 Quarterly Dividend

PC Connection, Inc. (NASDAQ:CNXN) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Investors of record on Tuesday, May 14th will be paid a dividend of 0.10 per share on Wednesday, May 29th. This represents a $0.40 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Monday, May 13th.

PC Connection has a dividend payout ratio of 10.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect PC Connection to earn $3.84 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 10.4%.

PC Connection Stock Up 3.2 %

PC Connection stock traded up $1.88 during mid-day trading on Friday, hitting $61.17. 80,039 shares of the company were exchanged, compared to its average volume of 70,016. The business has a fifty day moving average of $64.68 and a 200 day moving average of $63.39. The company has a market capitalization of $1.61 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 1.78 and a beta of 0.67. PC Connection has a 1-year low of $38.13 and a 1-year high of $70.55.

PC Connection (NASDAQ:CNXN) last issued its earnings results on Wednesday, May 1st. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). The business had revenue of $632.03 million for the quarter, compared to the consensus estimate of $694.19 million. PC Connection had a return on equity of 10.21% and a net margin of 2.98%. During the same quarter in the prior year, the firm posted $0.56 earnings per share. Research analysts expect that PC Connection will post 3.48 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com lowered PC Connection from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th.

PC Connection Company Profile

PC Connection, Inc, together with its subsidiaries, provides a range of information technology (IT) solutions. The company operates through three segments: Business Solutions, Enterprise Solutions, and Public Sector Solutions. It offers IT products, such as computer systems, software and peripheral equipment, networking communications, and other products and accessories.