PC Connection, Inc. Expected to Post Q2 2024 Earnings of $0.90 Per Share (NASDAQ:CNXN)

PC Connection, Inc. (NASDAQ:CNXN) – Stock analysts at Sidoti Csr reduced their Q2 2024 earnings estimates for PC Connection in a research note issued on Monday, April 22nd. Sidoti Csr analyst A. Lebiedzinski now forecasts that the company will earn $0.90 per share for the quarter, down from their previous estimate of $0.92. The consensus estimate for PC Connection’s current full-year earnings is $3.48 per share. Sidoti Csr also issued estimates for PC Connection’s Q2 2025 earnings at $1.03 EPS.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.02. PC Connection had a net margin of 2.92% and a return on equity of 10.55%. The business had revenue of $696.47 million during the quarter, compared to analysts’ expectations of $673.51 million.

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

PC Connection Stock Down 0.8 %

CNXN opened at $64.43 on Wednesday. PC Connection has a twelve month low of $38.13 and a twelve month high of $70.55. The company has a 50-day simple moving average of $65.34 and a 200 day simple moving average of $63.13. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 1.87 and a beta of 0.66.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CNXN. Exchange Traded Concepts LLC bought a new position in shares of PC Connection in the third quarter worth about $614,000. Maryland State Retirement & Pension System bought a new position in shares of PC Connection in the third quarter worth about $222,000. Brown Advisory Inc. lifted its holdings in shares of PC Connection by 12.5% in the third quarter. Brown Advisory Inc. now owns 393,186 shares of the company’s stock worth $20,988,000 after acquiring an additional 43,578 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of PC Connection by 0.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 107,655 shares of the company’s stock worth $5,747,000 after acquiring an additional 708 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in shares of PC Connection by 30.9% in the third quarter. Teacher Retirement System of Texas now owns 17,163 shares of the company’s stock worth $916,000 after acquiring an additional 4,051 shares during the last quarter. Institutional investors own 42.85% of the company’s stock.

PC Connection Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were given a dividend of $0.10 per share. This is a boost from PC Connection’s previous quarterly dividend of $0.08. The ex-dividend date was Monday, February 26th. This represents a $0.40 annualized dividend and a yield of 0.62%. PC Connection’s dividend payout ratio is currently 12.66%.

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.