Climb Global Solutions, Inc. (NASDAQ:CLMB) Forecasted to Earn Q3 2024 Earnings of $0.84 Per Share

Climb Global Solutions, Inc. (NASDAQ:CLMB) – Investment analysts at Barrington Research upped their Q3 2024 earnings estimates for Climb Global Solutions in a report released on Monday, May 6th. Barrington Research analyst V. Colicchio now forecasts that the company will post earnings of $0.84 per share for the quarter, up from their prior forecast of $0.77. Barrington Research currently has a “Outperform” rating and a $68.00 target price on the stock. The consensus estimate for Climb Global Solutions’ current full-year earnings is $2.92 per share. Barrington Research also issued estimates for Climb Global Solutions’ Q4 2024 earnings at $0.96 EPS.

Climb Global Solutions (NASDAQ:CLMB) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.15). The business had revenue of $92.42 million for the quarter, compared to analysts’ expectations of $105.44 million. Climb Global Solutions had a return on equity of 18.93% and a net margin of 3.26%. During the same period in the prior year, the company earned $0.74 EPS.

Climb Global Solutions Stock Down 2.6 %

CLMB opened at $56.88 on Wednesday. Climb Global Solutions has a 12 month low of $37.67 and a 12 month high of $73.25. The business has a 50-day moving average of $67.04 and a two-hundred day moving average of $57.47. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.09 and a quick ratio of 1.08. The stock has a market capitalization of $260.79 million, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 2.02 and a beta of 0.98.

Institutional Trading of Climb Global Solutions

Several large investors have recently added to or reduced their stakes in CLMB. Albert D Mason Inc. grew its stake in shares of Climb Global Solutions by 0.5% in the first quarter. Albert D Mason Inc. now owns 44,303 shares of the company’s stock valued at $3,140,000 after buying an additional 233 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Climb Global Solutions by 94.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 505 shares of the company’s stock worth $28,000 after purchasing an additional 245 shares in the last quarter. Pinnacle Associates Ltd. boosted its stake in shares of Climb Global Solutions by 1.4% in the fourth quarter. Pinnacle Associates Ltd. now owns 18,221 shares of the company’s stock valued at $999,000 after purchasing an additional 258 shares during the period. Strs Ohio increased its stake in Climb Global Solutions by 32.0% during the 4th quarter. Strs Ohio now owns 3,300 shares of the company’s stock worth $180,000 after buying an additional 800 shares during the period. Finally, Barclays PLC lifted its holdings in Climb Global Solutions by 23.8% in the 3rd quarter. Barclays PLC now owns 4,707 shares of the company’s stock worth $203,000 after buying an additional 904 shares in the last quarter. 49.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Climb Global Solutions

In other news, CMO Charles Edward Bass sold 500 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $65.05, for a total transaction of $32,525.00. Following the completion of the sale, the chief marketing officer now directly owns 37,097 shares in the company, valued at approximately $2,413,159.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Climb Global Solutions news, CEO Dale Richard Foster sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $65.49, for a total transaction of $229,215.00. Following the completion of the sale, the chief executive officer now directly owns 102,092 shares in the company, valued at $6,686,005.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Charles Edward Bass sold 500 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $65.05, for a total transaction of $32,525.00. Following the completion of the transaction, the chief marketing officer now directly owns 37,097 shares in the company, valued at approximately $2,413,159.85. The disclosure for this sale can be found here. 9.70% of the stock is owned by company insiders.

Climb Global Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 13th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Friday, May 10th. Climb Global Solutions’s dividend payout ratio is currently 26.36%.

Climb Global Solutions Company Profile

Climb Global Solutions Inc operates as a value-added information technology (IT) distribution and solutions company in the United States, Canada, Europe, the United Kingdom, and internationally. It operates in two segments, Distribution and Solutions. The company distributes technical software to corporate and value-added resellers, consultants, and systems integrators under the name Climb Channel Solutions; and provides cloud solutions and resells software, hardware, and services under the name Grey Matter.