PC Connection, Inc. (CNXN) to Distribute Quarterly Dividend of $0.20 on August 28th

PC Connection, Inc. (NASDAQ:CNXN) announced a quarterly dividend on Tuesday, July 28th. Investors of record on Tuesday, August 11th will be paid a dividend of 0.20 per share on Friday, August 28th. This represents a c) annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, August 11th.

PC Connection has a dividend payout ratio of 20.7% meaning its dividend is sufficiently covered by earnings. Analysts expect PC Connection to earn $4.47 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 17.9%.

PC Connection Trading Down 2.8%

Shares of PC Connection stock opened at $84.14 on Friday. The business has a 50-day moving average price of $76.06 and a two-hundred day moving average price of $66.88. PC Connection has a 1-year low of $54.97 and a 1-year high of $88.31. The company has a market cap of $2.12 billion, a P/E ratio of 22.26, a PEG ratio of 2.02 and a beta of 0.86.

PC Connection (NASDAQ:CNXN) last released its earnings results on Wednesday, July 29th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.31. PC Connection had a net margin of 3.21% and a return on equity of 10.90%. The company had revenue of $854.00 million for the quarter, compared to the consensus estimate of $764.79 million. Equities research analysts forecast that PC Connection will post 4.18 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on CNXN. Zacks Research raised PC Connection from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. Wall Street Zen upgraded shares of PC Connection from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings upgraded shares of PC Connection from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat.com, PC Connection presently has an average rating of “Strong Buy”.

PC Connection Company Profile

PC Connection, Inc (NASDAQ: CNXN), now operating under the trade name Connection, is a value-added provider of information technology solutions founded in 1982 and headquartered in Merrimack, New Hampshire. The company offers a broad portfolio of hardware and software products sourced from leading technology vendors, alongside professional services designed to help organizations design, deploy and maintain IT environments.

Connection’s product offerings encompass desktop and notebook computers, servers and storage systems, networking and cybersecurity solutions, as well as cloud and virtualization technologies.