PC Connection (CNXN) Issues Quarterly Earnings Results, Beats Estimates By $0.14 EPS

PC Connection (NASDAQ:CNXN) released its earnings results on Thursday. The company reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.14, Bloomberg Earnings reports. The firm had revenue of $709.50 million during the quarter, compared to analyst estimates of $693.49 million. PC Connection had a return on equity of 11.54% and a net margin of 2.33%. The business’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 earnings per share.

CNXN stock traded up $4.71 during trading on Friday, reaching $38.32. 404 shares of the stock traded hands, compared to its average volume of 43,854. PC Connection has a 52-week low of $23.07 and a 52-week high of $43.05. The company has a market cap of $898.40 million, a PE ratio of 20.52, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99.

The company also recently declared a special dividend, which was paid on Friday, January 11th. Shareholders of record on Friday, December 28th were given a dividend of $0.32 per share. The ex-dividend date was Thursday, December 27th.



CNXN has been the subject of several analyst reports. BidaskClub upgraded PC Connection from a “hold” rating to a “buy” rating in a research note on Tuesday, October 16th. ValuEngine lowered PC Connection from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Sidoti upgraded PC Connection from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 23rd. Finally, Zacks Investment Research lowered PC Connection from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $36.50.

Several hedge funds and other institutional investors have recently modified their holdings of CNXN. BlackRock Inc. boosted its position in shares of PC Connection by 12.0% in the third quarter. BlackRock Inc. now owns 1,080,154 shares of the company’s stock worth $42,007,000 after buying an additional 115,955 shares during the period. Matarin Capital Management LLC purchased a new position in PC Connection in the third quarter valued at about $4,440,000. James Investment Research Inc. boosted its holdings in PC Connection by 62.6% in the third quarter. James Investment Research Inc. now owns 149,125 shares of the company’s stock valued at $5,799,000 after purchasing an additional 57,410 shares during the last quarter. AQR Capital Management LLC boosted its holdings in PC Connection by 328.4% in the third quarter. AQR Capital Management LLC now owns 74,449 shares of the company’s stock valued at $2,895,000 after purchasing an additional 57,070 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in PC Connection by 35,181.8% in the fourth quarter. Bank of Montreal Can now owns 56,098 shares of the company’s stock valued at $1,668,000 after purchasing an additional 55,939 shares during the last quarter. 41.05% of the stock is owned by institutional investors.

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About PC Connection

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.

See Also: Earnings Per Share (EPS)

Earnings History for PC Connection (NASDAQ:CNXN)

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