Q1 2024 EPS Estimates for PC Connection, Inc. (NASDAQ:CNXN) Lowered by Sidoti Csr

PC Connection, Inc. (NASDAQ:CNXN) – Investment analysts at Sidoti Csr lowered their Q1 2024 EPS estimates for shares of PC Connection in a research note issued 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 prior 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.

Separately, StockNews.com raised shares of PC Connection from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 18th.

PC Connection Stock Performance

Shares of PC Connection stock opened at $62.36 on Tuesday. The company has a market capitalization of $1.64 billion, a P/E ratio of 19.73, a P/E/G ratio of 1.80 and a beta of 0.66. The company has a fifty day moving average of $65.33 and a 200 day moving average of $63.04. PC Connection has a fifty-two week low of $38.13 and a fifty-two week high of $70.55.

PC Connection (NASDAQ:CNXN) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.02. PC Connection had a net margin of 2.92% and a return on equity of 10.55%. The firm had revenue of $696.47 million during the quarter, compared to the consensus estimate of $673.51 million.

PC Connection Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, February 26th. This represents a $0.40 annualized dividend and a yield of 0.64%. This is an increase from PC Connection’s previous quarterly dividend of $0.08. PC Connection’s dividend payout ratio is currently 12.66%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. boosted its holdings in PC Connection by 65.0% in the 4th quarter. Pacer Advisors Inc. now owns 672,203 shares of the company’s stock worth $45,179,000 after buying an additional 264,687 shares during the period. Brown Advisory Inc. lifted its stake in PC Connection by 12.5% in the 3rd quarter. Brown Advisory Inc. now owns 393,186 shares of the company’s stock worth $20,988,000 after purchasing an additional 43,578 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in PC Connection by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 232,936 shares of the company’s stock worth $15,656,000 after purchasing an additional 3,812 shares in the last quarter. AQR Capital Management LLC lifted its stake in PC Connection by 6.4% in the 3rd quarter. AQR Capital Management LLC now owns 111,298 shares of the company’s stock worth $5,941,000 after purchasing an additional 6,677 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in PC Connection by 0.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 107,655 shares of the company’s stock worth $5,747,000 after purchasing an additional 708 shares in the last quarter. Institutional investors own 42.85% of the company’s stock.

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.