PCM (PCMI) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

PCM (NASDAQ:PCMI) issued its quarterly earnings data on Wednesday. The specialty retailer reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.05, Bloomberg Earnings reports. PCM had a return on equity of 11.33% and a net margin of 0.14%. The business had revenue of $542.83 million during the quarter, compared to analyst estimates of $539.35 million.

NASDAQ:PCMI traded up $1.75 during trading hours on Thursday, reaching $12.30. 542,133 shares of the stock were exchanged, compared to its average volume of 181,150. PCM has a twelve month low of $6.90 and a twelve month high of $30.75. The company has a quick ratio of 0.80, a current ratio of 0.99 and a debt-to-equity ratio of 0.26. The company has a market cap of $122.64, a P/E ratio of 11.39, a price-to-earnings-growth ratio of 0.19 and a beta of 0.57.

PCMI has been the subject of several research analyst reports. Zacks Investment Research upgraded PCM from a “sell” rating to a “hold” rating in a research report on Wednesday, February 21st. B. Riley set a $20.00 price objective on PCM and gave the company a “buy” rating in a research report on Thursday, January 4th. TheStreet lowered PCM from a “c” rating to a “d+” rating in a research report on Thursday, March 8th. ValuEngine lowered PCM from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Roth Capital set a $15.00 price objective on PCM and gave the company a “buy” rating in a research report on Thursday, March 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $12.00.

In other news, major shareholder Jb Capital Partners Lp purchased 30,500 shares of PCM stock in a transaction on Friday, April 6th. The stock was purchased at an average price of $8.07 per share, with a total value of $246,135.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 24.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in PCMI. State Street Corp acquired a new position in PCM during the 2nd quarter worth approximately $2,176,000. California State Teachers Retirement System acquired a new position in PCM during the 2nd quarter worth approximately $334,000. Finally, The Manufacturers Life Insurance Company boosted its position in PCM by 16,357.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,558 shares of the specialty retailer’s stock worth $160,000 after acquiring an additional 8,506 shares during the last quarter. 53.21% of the stock is owned by hedge funds and other institutional investors.

About PCM

PCM, Inc, through its subsidiaries, operates as a multi-vendor provider of technology products and solutions in the United States and the rest of Europe. The company operates through four segments: Commercial, Public Sector, Canada, and United Kingdom. It primarily sells device products, servers, storage products, network products, printers, and related accessories and devices.

Earnings History for PCM (NASDAQ:PCMI)

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