Climb Global Solutions (NASDAQ:CLMB) Releases Earnings Results, Misses Expectations By $0.15 EPS

Climb Global Solutions (NASDAQ:CLMB) announced its quarterly earnings results on Wednesday. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.15), Zacks reports. Climb Global Solutions had a net margin of 3.50% and a return on equity of 20.65%. The firm had revenue of $92.42 million during the quarter, compared to analysts’ expectations of $105.44 million. During the same quarter in the prior year, the business earned $0.74 EPS.

Climb Global Solutions Price Performance

Shares of NASDAQ CLMB traded down $6.54 during trading on Thursday, reaching $59.50. The company had a trading volume of 36,760 shares, compared to its average volume of 10,039. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $273.70 million, a PE ratio of 20.51, a price-to-earnings-growth ratio of 2.21 and a beta of 0.98. Climb Global Solutions has a twelve month low of $37.67 and a twelve month high of $73.25. The stock has a 50-day moving average price of $67.15 and a two-hundred day moving average price of $56.98.

Climb Global Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 11th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.14%. The ex-dividend date was Friday, March 8th. Climb Global Solutions’s payout ratio is 25.00%.

Insider Activity at Climb Global Solutions

In other news, CMO Charles Edward Bass sold 500 shares of Climb Global Solutions stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $65.05, for a total transaction of $32,525.00. Following the completion of the sale, the chief marketing officer now directly owns 37,097 shares in the company, valued at $2,413,159.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Dale Richard Foster sold 3,500 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $65.49, for a total transaction of $229,215.00. Following the transaction, the chief executive officer now directly owns 102,092 shares in the company, valued at $6,686,005.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Charles Edward Bass sold 500 shares of Climb Global Solutions stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $65.05, for a total value of $32,525.00. Following the completion of the sale, the chief marketing officer now owns 37,097 shares of the company’s stock, valued at approximately $2,413,159.85. The disclosure for this sale can be found here. 9.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Barrington Research restated an “outperform” rating and set a $76.00 target price on shares of Climb Global Solutions in a report on Tuesday.

About Climb Global Solutions

Climb Global Solutions Inc operates as a value-added information technology (IT) distribution and solutions company in the United States, Canada, Europe, the United Kingdom, and internationally. It operates in two segments, Distribution and Solutions. The company distributes technical software to corporate and value-added resellers, consultants, and systems integrators under the name Climb Channel Solutions; and provides cloud solutions and resells software, hardware, and services under the name Grey Matter.