Q2 2024 Earnings Forecast for PC Connection, Inc. Issued By Sidoti Csr (NASDAQ:CNXN)

PC Connection, Inc. (NASDAQ:CNXN) – Research analysts at Sidoti Csr cut their Q2 2024 EPS estimates for PC Connection in a note issued to investors on Thursday, May 2nd. Sidoti Csr analyst A. Lebiedzinski now forecasts that the company will post earnings per share of $0.84 for the quarter, down from their previous forecast of $0.90. The consensus estimate for PC Connection’s current full-year earnings is $3.35 per share. Sidoti Csr also issued estimates for PC Connection’s Q4 2024 earnings at $1.03 EPS, FY2024 earnings at $3.35 EPS, Q1 2025 earnings at $0.65 EPS, Q3 2025 earnings at $1.09 EPS and Q4 2025 earnings at $1.18 EPS.

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

PC Connection Stock Up 0.8 %

CNXN stock opened at $62.56 on Monday. PC Connection has a 52-week low of $38.13 and a 52-week high of $70.55. The firm has a market cap of $1.65 billion, a P/E ratio of 20.05, a PEG ratio of 1.83 and a beta of 0.67. The company’s 50-day simple moving average is $64.31 and its 200-day simple moving average is $63.69.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). PC Connection had a return on equity of 10.10% and a net margin of 2.98%. The firm had revenue of $632.03 million for the quarter, compared to analysts’ expectations of $694.19 million. During the same period last year, the company posted $0.56 earnings per share.

Institutional Investors Weigh In On PC Connection

Institutional investors have recently bought and sold shares of the company. Maryland State Retirement & Pension System acquired a new stake in PC Connection during the 3rd quarter worth $222,000. Brown Advisory Inc. boosted its position in PC Connection by 12.5% during the third quarter. Brown Advisory Inc. now owns 393,186 shares of the company’s stock worth $20,988,000 after acquiring an additional 43,578 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in PC Connection by 0.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 107,655 shares of the company’s stock valued at $5,747,000 after acquiring an additional 708 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in PC Connection by 30.9% in the 3rd quarter. Teacher Retirement System of Texas now owns 17,163 shares of the company’s stock valued at $916,000 after acquiring an additional 4,051 shares during the last quarter. Finally, Illinois Municipal Retirement Fund purchased a new position in PC Connection in the 3rd quarter worth approximately $332,000. 42.85% of the stock is currently owned by institutional investors and hedge funds.

PC Connection Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Tuesday, May 14th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Monday, May 13th. PC Connection’s dividend payout ratio is presently 12.82%.

About PC Connection

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.