PC Connection, Inc. (CNXN) Expected to Post Earnings of $0.53 Per Share
Brokerages forecast that PC Connection, Inc. (NASDAQ:CNXN) will post $0.53 earnings per share for the current quarter, Zacks reports. Two analysts have issued estimates for PC Connection’s earnings. PC Connection reported earnings per share of $0.49 during the same quarter last year, which indicates a positive year-over-year growth rate of 8.2%. The company is scheduled to report its next quarterly earnings results on Thursday, July 27th.
On average, analysts expect that PC Connection will report full year earnings of $2.05 per share for the current year. For the next fiscal year, analysts forecast that the company will post earnings of $2.20 per share. Zacks’ EPS averages are an average based on a survey of sell-side research firms that that provide coverage for PC Connection.
PC Connection (NASDAQ:CNXN) last posted its quarterly earnings results on Thursday, April 20th. The company reported $0.28 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.28. The firm earned $670.60 million during the quarter, compared to the consensus estimate of $671.86 million. PC Connection had a return on equity of 12.20% and a net margin of 1.79%. The firm’s quarterly revenue was up 17.2% on a year-over-year basis.
CNXN has been the subject of a number of analyst reports. Zacks Investment Research raised PC Connection from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Monday, February 6th. Roth Capital set a $30.00 price target on PC Connection and gave the stock a “buy” rating in a report on Wednesday, February 1st.
In related news, CEO Timothy J. Mcgrath sold 20,492 shares of the stock in a transaction on Wednesday, March 22nd. The stock was sold at an average price of $28.60, for a total value of $586,071.20. Following the sale, the chief executive officer now owns 252,211 shares in the company, valued at $7,213,234.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy J. Mcgrath sold 15,922 shares of the stock in a transaction on Tuesday, April 4th. The stock was sold at an average price of $29.14, for a total value of $463,967.08. Following the completion of the sale, the chief executive officer now owns 225,841 shares in the company, valued at approximately $6,581,006.74. The disclosure for this sale can be found here. Insiders sold 151,007 shares of company stock valued at $4,177,201 over the last ninety days. Corporate insiders own 57.90% of the company’s stock.
Large investors have recently modified their holdings of the company. First National Bank of Omaha acquired a new stake in shares of PC Connection during the first quarter worth about $593,000. James Investment Research Inc. acquired a new stake in shares of PC Connection during the first quarter worth about $6,504,000. Finally, Fenimore Asset Management Inc. acquired a new stake in shares of PC Connection during the first quarter worth about $9,492,000. Institutional investors own 39.33% of the company’s stock.
PC Connection (NASDAQ:CNXN) traded up 0.96% on Friday, reaching $28.31. The company’s stock had a trading volume of 59,394 shares. The firm’s 50-day moving average price is $28.29 and its 200 day moving average price is $27.22. PC Connection has a 52-week low of $21.59 and a 52-week high of $30.48. The company has a market cap of $756.41 million, a P/E ratio of 15.73 and a beta of 1.23.
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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