Q2 2024 EPS Estimates for PC Connection, Inc. Lowered by Analyst (NASDAQ:CNXN)

PC Connection, Inc. (NASDAQ:CNXN) – Equities researchers at Sidoti Csr dropped their Q2 2024 EPS estimates for PC Connection in a note issued to investors on Thursday, May 2nd. Sidoti Csr analyst A. Lebiedzinski now expects that the company will post earnings per share of $0.84 for the quarter, down from their previous forecast 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.

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

PC Connection Stock Up 1.5 %

CNXN opened at $62.07 on Monday. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 1.83 and a beta of 0.67. PC Connection has a 52-week low of $38.13 and a 52-week high of $70.55. The firm’s fifty day simple moving average is $64.39 and its two-hundred day simple moving average is $63.62.

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

Hedge Funds Weigh In On PC Connection

Hedge funds and other institutional investors have recently modified their holdings of the business. Pacer Advisors Inc. lifted its stake 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 worth $45,179,000 after buying an additional 264,687 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of PC Connection by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 229,124 shares of the company’s stock worth $12,231,000 after buying an additional 6,743 shares in the last quarter. Brown Advisory Inc. lifted its stake 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 worth $20,988,000 after buying an additional 43,578 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of PC Connection by 151.5% in the third quarter. Rhumbline Advisers now owns 93,488 shares of the company’s stock worth $4,990,000 after buying an additional 56,310 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in shares of PC Connection by 50.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 17,313 shares of the company’s stock worth $1,164,000 after buying an additional 5,806 shares in the last quarter. 42.85% of the stock is owned by hedge funds and other institutional investors.

PC Connection Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Tuesday, May 14th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Monday, May 13th. PC Connection’s dividend payout ratio is currently 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.