Q1 2024 EPS Estimates for PC Connection, Inc. (NASDAQ:CNXN) Reduced by Analyst

PC Connection, Inc. (NASDAQ:CNXN) – Research analysts at Sidoti Csr lowered their Q1 2024 EPS estimates for PC Connection in a report released on Monday, April 22nd. Sidoti Csr analyst A. Lebiedzinski now expects that the company will post earnings of $0.55 per share for the quarter, down from their previous estimate of $0.60. 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 Q3 2024 earnings at $1.04 EPS, Q4 2024 earnings at $0.99 EPS, FY2024 earnings at $3.48 EPS, Q1 2025 earnings at $0.71 EPS and Q4 2025 earnings at $1.13 EPS.

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

Separately, StockNews.com raised shares of PC Connection from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 18th.

PC Connection Price Performance

NASDAQ:CNXN opened at $64.98 on Tuesday. PC Connection has a 1 year low of $38.13 and a 1 year high of $70.55. The stock’s fifty day moving average price is $65.35 and its two-hundred day moving average price is $63.11. The company has a market cap of $1.71 billion, a P/E ratio of 20.50, a P/E/G ratio of 1.79 and a beta of 0.66.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CNXN. Pacer Advisors Inc. increased its stake in shares of PC Connection by 65.0% during the fourth quarter. Pacer Advisors Inc. now owns 672,203 shares of the company’s stock valued at $45,179,000 after buying an additional 264,687 shares during the period. Rhumbline Advisers increased its position in PC Connection by 151.5% during the 3rd quarter. Rhumbline Advisers now owns 93,488 shares of the company’s stock valued at $4,990,000 after purchasing an additional 56,310 shares during the period. Brown Advisory Inc. raised its holdings in PC Connection by 12.5% in the 3rd quarter. Brown Advisory Inc. now owns 393,186 shares of the company’s stock worth $20,988,000 after purchasing an additional 43,578 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of PC Connection by 34.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 95,358 shares of the company’s stock worth $6,287,000 after purchasing an additional 24,539 shares during the period. Finally, Exchange Traded Concepts LLC bought a new stake in shares of PC Connection during the 3rd quarter valued at about $614,000. Institutional investors own 42.85% of the company’s stock.

PC Connection Increases Dividend

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