Research Analysts Offer Predictions for PC Connection, Inc.’s Q2 2024 Earnings (NASDAQ:CNXN)

PC Connection, Inc. (NASDAQ:CNXN) – Stock analysts at Sidoti Csr lowered their Q2 2024 earnings per share (EPS) estimates for PC Connection in a research note issued to investors on Thursday, May 2nd. Sidoti Csr analyst A. Lebiedzinski now anticipates that the company will post earnings per share of $0.84 for the quarter, down from their previous estimate of $0.90. The consensus estimate for PC Connection’s current full-year earnings is $3.35 per share. Sidoti Csr also issued estimates for PC Connection’s Q4 2024 earnings at $1.03 EPS, FY2024 earnings at $3.35 EPS, Q1 2025 earnings at $0.65 EPS, Q3 2025 earnings at $1.09 EPS and Q4 2025 earnings at $1.18 EPS.

PC Connection (NASDAQ:CNXN) last posted its earnings results on Wednesday, May 1st. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). PC Connection had a net margin of 2.98% and a return on equity of 10.10%. The business had revenue of $632.03 million during the quarter, compared to analysts’ expectations of $694.19 million. During the same period last year, the company earned $0.56 EPS.

Separately, StockNews.com cut shares of PC Connection from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th.

PC Connection Price Performance

Shares of CNXN opened at $61.17 on Monday. The firm has a fifty day moving average price of $64.54 and a 200 day moving average price of $63.56. The stock has a market cap of $1.61 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 1.76 and a beta of 0.67. PC Connection has a 1-year low of $38.13 and a 1-year high of $70.55.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Swiss National Bank increased its holdings in PC Connection by 1.6% in the third quarter. Swiss National Bank now owns 26,000 shares of the company’s stock valued at $1,388,000 after buying an additional 400 shares in the last quarter. TD Asset Management Inc grew its holdings in PC Connection by 4.5% in the fourth quarter. TD Asset Management Inc now owns 16,100 shares of the company’s stock valued at $1,082,000 after purchasing an additional 700 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of PC Connection by 0.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 107,655 shares of the company’s stock valued at $5,747,000 after buying an additional 708 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its stake in shares of PC Connection by 7.0% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 13,598 shares of the company’s stock worth $726,000 after buying an additional 892 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in PC Connection by 23.9% during the first quarter. BNP Paribas Financial Markets now owns 8,767 shares of the company’s stock worth $578,000 after acquiring an additional 1,692 shares during the last quarter. Institutional investors and hedge funds own 42.85% of the company’s stock.

PC Connection Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Tuesday, May 14th will be given a dividend of $0.10 per share. The ex-dividend date is Monday, May 13th. This represents a $0.40 dividend on an annualized basis and a yield of 0.65%. PC Connection’s payout ratio is 12.82%.

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.