Wall Street analysts forecast that PC Connection, Inc. (NASDAQ:CNXN) will report earnings per share (EPS) of $0.68 for the current fiscal quarter, according to Zacks. Two analysts have made estimates for PC Connection’s earnings, with estimates ranging from $0.62 to $0.73. PC Connection posted earnings per share of $0.49 in the same quarter last year, which indicates a positive year-over-year growth rate of 38.8%. The business is expected to report its next earnings results on Thursday, October 25th.

On average, analysts expect that PC Connection will report full year earnings of $2.51 per share for the current fiscal year, with EPS estimates ranging from $2.45 to $2.56. For the next financial year, analysts expect that the company will report earnings of $2.66 per share, with EPS estimates ranging from $2.62 to $2.70. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for PC Connection.

PC Connection (NASDAQ:CNXN) last posted its earnings results on Thursday, August 2nd. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. PC Connection had a return on equity of 11.73% and a net margin of 2.24%. The company had revenue of $706.57 million for the quarter, compared to the consensus estimate of $696.68 million. During the same quarter in the prior year, the company earned $0.51 earnings per share. PC Connection’s revenue was down 5.8% on a year-over-year basis.

A number of research firms have weighed in on CNXN. ValuEngine raised PC Connection from a “hold” rating to a “buy” rating in a report on Friday, June 22nd. BidaskClub upgraded PC Connection from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 17th. Zacks Investment Research cut PC Connection from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Roth Capital set a $40.00 price target on PC Connection and gave the stock a “buy” rating in a research report on Friday, August 3rd. Finally, Sidoti cut PC Connection from a “buy” rating to a “neutral” rating in a research report on Monday, July 16th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. PC Connection currently has an average rating of “Buy” and an average price target of $36.50.

In other PC Connection news, Director Negrini David Beffa sold 6,523 shares of the company’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $37.14, for a total value of $242,264.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 57.10% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of CNXN. Victory Capital Management Inc. increased its position in PC Connection by 37.7% in the first quarter. Victory Capital Management Inc. now owns 12,849 shares of the company’s stock worth $321,000 after buying an additional 3,517 shares in the last quarter. Prudential Financial Inc. increased its position in PC Connection by 3.5% in the first quarter. Prudential Financial Inc. now owns 80,136 shares of the company’s stock worth $2,004,000 after buying an additional 2,700 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in PC Connection by 10.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 58,138 shares of the company’s stock worth $1,454,000 after buying an additional 5,594 shares in the last quarter. US Bancorp DE increased its position in PC Connection by 123.0% in the first quarter. US Bancorp DE now owns 6,404 shares of the company’s stock worth $160,000 after buying an additional 3,532 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in PC Connection in the first quarter worth about $757,000. Institutional investors and hedge funds own 41.31% of the company’s stock.

CNXN stock traded up $0.66 during trading on Friday, reaching $41.39. The stock had a trading volume of 158,400 shares, compared to its average volume of 52,161. PC Connection has a 52 week low of $22.66 and a 52 week high of $42.44. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 22.40, a P/E/G ratio of 1.95 and a beta of 1.33.

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.

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