Sidoti Csr Weighs in on PC Connection, Inc.’s Q1 2024 Earnings (NASDAQ:CNXN)

PC Connection, Inc. (NASDAQ:CNXN) – Analysts at Sidoti Csr cut their Q1 2024 earnings estimates for PC Connection in a note issued to investors 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 forecast of $0.60. The consensus estimate for PC Connection’s current full-year earnings is $3.50 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 issued its earnings results on Wednesday, February 14th. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.02. The firm had revenue of $696.47 million during 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 upgraded shares of PC Connection from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 18th.

PC Connection Trading Up 4.3 %

Shares of CNXN stock opened at $65.04 on Tuesday. The firm has a fifty day moving average price of $65.33 and a 200 day moving average price of $63.04. The company has a market cap of $1.71 billion, a P/E ratio of 20.58, a PEG ratio of 1.80 and a beta of 0.66. PC Connection has a 12 month low of $38.13 and a 12 month high of $70.55.

Institutional Investors Weigh In On PC Connection

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its holdings in shares of PC Connection by 65.0% in 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 last quarter. Rhumbline Advisers raised its holdings in shares of PC Connection by 151.5% in the third quarter. Rhumbline Advisers now owns 93,488 shares of the company’s stock valued at $4,990,000 after buying an additional 56,310 shares during the last quarter. Brown Advisory Inc. raised 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 valued at $20,988,000 after buying an additional 43,578 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of PC Connection by 34.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 95,358 shares of the company’s stock valued at $6,287,000 after buying an additional 24,539 shares during the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of PC Connection in the third quarter valued at about $614,000. 42.85% of the stock is owned by hedge funds and other institutional investors.

PC Connection Increases Dividend

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