PC Connection, Inc. (NASDAQ:CNXN) Announces Quarterly Dividend of $0.20

PC Connection, Inc. (NASDAQ:CNXN) declared a quarterly dividend on Wednesday, July 29th. Shareholders of record on Tuesday, August 11th will be paid a dividend of 0.20 per share on Friday, August 28th. This represents a c) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, August 11th.

PC Connection has a dividend payout ratio of 20.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect PC Connection to earn $4.24 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 18.9%.

PC Connection Stock Performance

CNXN stock opened at $82.97 on Thursday. The company has a market capitalization of $2.09 billion, a PE ratio of 24.12, a price-to-earnings-growth ratio of 2.12 and a beta of 0.88. PC Connection has a one year low of $54.97 and a one year high of $84.81. The company’s 50 day moving average price is $73.51 and its two-hundred day moving average price is $65.64.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.31. PC Connection had a net margin of 3.02% and a return on equity of 10.17%. The business had revenue of $854.00 million during the quarter, compared to the consensus estimate of $764.79 million. On average, research analysts predict that PC Connection will post 3.93 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wall Street Zen raised PC Connection from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Weiss Ratings upgraded shares of PC Connection from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

About PC Connection

PC Connection, Inc (NASDAQ: CNXN), now operating under the trade name Connection, is a value-added provider of information technology solutions founded in 1982 and headquartered in Merrimack, New Hampshire. The company offers a broad portfolio of hardware and software products sourced from leading technology vendors, alongside professional services designed to help organizations design, deploy and maintain IT environments.

Connection’s product offerings encompass desktop and notebook computers, servers and storage systems, networking and cybersecurity solutions, as well as cloud and virtualization technologies.