Q2 2024 EPS Estimates for PC Connection, Inc. (NASDAQ:CNXN) Cut by Analyst

PC Connection, Inc. (NASDAQ:CNXN) – Analysts at Sidoti Csr dropped their Q2 2024 earnings per share estimates for PC Connection in a report issued on Thursday, May 2nd. Sidoti Csr analyst A. Lebiedzinski now forecasts that the company will post earnings of $0.84 per share for the quarter, down from their previous estimate of $0.90. The consensus estimate for PC Connection’s current full-year earnings is $3.35 per share. Sidoti Csr also issued estimates for PC Connection’s Q4 2024 earnings at $1.03 EPS, FY2024 earnings at $3.35 EPS, Q1 2025 earnings at $0.65 EPS, Q3 2025 earnings at $1.09 EPS and Q4 2025 earnings at $1.18 EPS.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). PC Connection had a net margin of 2.98% and a return on equity of 10.10%. The firm had revenue of $632.03 million during the quarter, compared to analysts’ expectations of $694.19 million. During the same quarter in the prior year, the business earned $0.56 EPS.

Separately, StockNews.com lowered shares of PC Connection from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th.

PC Connection Trading Up 0.8 %

NASDAQ:CNXN opened at $62.56 on Monday. PC Connection has a twelve month low of $38.13 and a twelve month high of $70.55. The company has a market capitalization of $1.65 billion, a P/E ratio of 20.05, a price-to-earnings-growth ratio of 1.83 and a beta of 0.67. The firm has a 50-day moving average price of $64.31 and a two-hundred day moving average price of $63.69.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNXN. Illinois Municipal Retirement Fund boosted its stake in shares of PC Connection by 3.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 6,491 shares of the company’s stock worth $428,000 after purchasing an additional 211 shares during the last quarter. SG Americas Securities LLC acquired a new position in PC Connection in the 1st quarter valued at $1,701,000. BNP Paribas Financial Markets lifted its stake in shares of PC Connection by 23.9% during the 1st quarter. BNP Paribas Financial Markets now owns 8,767 shares of the company’s stock worth $578,000 after purchasing an additional 1,692 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of PC Connection by 10.5% during the first quarter. Principal Financial Group Inc. now owns 65,079 shares of the company’s stock worth $4,291,000 after purchasing an additional 6,185 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of PC Connection by 34.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 95,358 shares of the company’s stock valued at $6,287,000 after purchasing an additional 24,539 shares during the period. 42.85% of the stock is currently owned by hedge funds and other institutional investors.

PC Connection Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Tuesday, May 14th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Monday, May 13th. PC Connection’s dividend payout ratio is presently 12.82%.

PC Connection Company Profile

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.