Zacks: Brokerages Expect PC Connection, Inc. (CNXN) Will Post Earnings of $0.53 Per Share
Brokerages expect PC Connection, Inc. (NASDAQ:CNXN) to announce earnings of $0.53 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for PC Connection’s earnings. The highest EPS estimate is $0.58 and the lowest is $0.48. PC Connection also reported earnings of $0.53 per share in the same quarter last year. The firm is expected to issue its next earnings results on Wednesday, February 7th.
According to Zacks, analysts expect that PC Connection will report full year earnings of $1.81 per share for the current financial year, with EPS estimates ranging from $1.77 to $1.85. For the next fiscal year, analysts forecast that the firm will report earnings of $2.11 per share, with EPS estimates ranging from $2.07 to $2.14. Zacks’ EPS averages are a mean average based on a survey of research firms that cover PC Connection.
PC Connection (NASDAQ:CNXN) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.49 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.49. The business had revenue of $729.23 million during the quarter, compared to analyst estimates of $727.84 million. PC Connection had a net margin of 1.63% and a return on equity of 11.00%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 earnings per share.
Several equities research analysts have weighed in on CNXN shares. Zacks Investment Research downgraded shares of PC Connection from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. Roth Capital set a $33.00 target price on shares of PC Connection and gave the stock a “buy” rating in a research report on Friday, July 28th. Finally, ValuEngine downgraded shares of PC Connection from a “buy” rating to a “hold” rating in a research report on Friday, September 1st.
In other PC Connection news, CEO Timothy J. Mcgrath sold 26,122 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $25.82, for a total value of $674,470.04. Following the completion of the sale, the chief executive officer now directly owns 224,907 shares of the company’s stock, valued at approximately $5,807,098.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Negrini David Beffa sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $26.00, for a total transaction of $520,000.00. Following the completion of the sale, the director now directly owns 129,800 shares of the company’s stock, valued at $3,374,800. The disclosure for this sale can be found here. Insiders own 57.30% of the company’s stock.
A number of hedge funds have recently modified their holdings of CNXN. Dimensional Fund Advisors LP bought a new stake in PC Connection in the 1st quarter worth about $66,560,000. Vanguard Group Inc. purchased a new position in PC Connection in the first quarter valued at about $14,873,000. Renaissance Technologies LLC purchased a new position in PC Connection in the first quarter valued at about $5,374,000. Geode Capital Management LLC purchased a new position in PC Connection in the first quarter valued at about $4,707,000. Finally, Tributary Capital Management LLC boosted its stake in PC Connection by 68.2% in the second quarter. Tributary Capital Management LLC now owns 385,128 shares of the company’s stock valued at $10,422,000 after acquiring an additional 156,106 shares during the last quarter. 41.49% of the stock is owned by institutional investors and hedge funds.
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PC Connection (NASDAQ CNXN) traded down $0.19 on Friday, hitting $26.53. 16,092 shares of the stock traded hands, compared to its average volume of 47,496. The stock has a market cap of $713.31, a price-to-earnings ratio of 14.54 and a beta of 1.60.
PC Connection Company Profile
PC Connection, Inc is a provider of a range of information technology (IT) solutions. The Company conducts its business operations through three business segments: small- to medium-sized businesses (SMB), Large Account and Public Sector. The Company enables customers to design, enable, manage and service their IT environments.
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