Wall Street brokerages expect that PC Connection, Inc. (NASDAQ:CNXN) will report $692.04 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for PC Connection’s earnings, with estimates ranging from $689.78 million to $694.30 million. PC Connection posted sales of $670.59 million in the same quarter last year, which suggests a positive year-over-year growth rate of 3.2%. The firm is expected to issue its next quarterly earnings report on Thursday, April 19th.
According to Zacks, analysts expect that PC Connection will report full year sales of $692.04 million for the current fiscal year, with estimates ranging from $3.02 billion to $3.04 billion. For the next fiscal year, analysts forecast that the business will report sales of $3.13 billion per share. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow PC Connection.
PC Connection (NASDAQ:CNXN) last released its quarterly earnings data on Thursday, February 15th. The company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.01. PC Connection had a net margin of 1.88% and a return on equity of 10.81%. The firm had revenue of $762.27 million for the quarter, compared to analyst estimates of $757.40 million. During the same quarter in the prior year, the business earned $0.53 EPS. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year.
Several brokerages have recently commented on CNXN. Zacks Investment Research upgraded shares of PC Connection from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Wednesday, February 21st. BidaskClub lowered shares of PC Connection from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 25th. Finally, ValuEngine lowered shares of PC Connection from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st.
Shares of PC Connection (NASDAQ CNXN) traded up $0.38 on Friday, hitting $26.19. 56,849 shares of the stock traded hands, compared to its average volume of 38,281. PC Connection has a 52 week low of $22.66 and a 52 week high of $30.48. The firm has a market cap of $680.46, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 1.39 and a beta of 1.51.
In other news, CEO Timothy J. Mcgrath sold 9,700 shares of the stock in a transaction on Monday, January 8th. The shares were sold at an average price of $26.85, for a total transaction of $260,445.00. Following the transaction, the chief executive officer now owns 207,207 shares in the company, valued at approximately $5,563,507.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 57.30% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its stake in shares of PC Connection by 8.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,874 shares of the company’s stock worth $268,000 after purchasing an additional 790 shares during the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of PC Connection by 6.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 25,949 shares of the company’s stock worth $702,000 after buying an additional 1,542 shares during the period. Fenimore Asset Management Inc. boosted its holdings in shares of PC Connection by 0.7% during the 4th quarter. Fenimore Asset Management Inc. now owns 321,345 shares of the company’s stock worth $8,422,000 after buying an additional 2,370 shares during the period. Aperio Group LLC boosted its holdings in shares of PC Connection by 29.6% during the 4th quarter. Aperio Group LLC now owns 12,725 shares of the company’s stock worth $334,000 after buying an additional 2,909 shares during the period. Finally, Citadel Advisors LLC boosted its holdings in shares of PC Connection by 13.5% during the 3rd quarter. Citadel Advisors LLC now owns 28,265 shares of the company’s stock worth $797,000 after buying an additional 3,361 shares during the period. Institutional investors own 40.28% of the company’s stock.
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PC Connection Company Profile
PC Connection, Inc is a provider of a range of information technology (IT) solutions. The Company conducts its business operations through three business segments: small- to medium-sized businesses (SMB), Large Account and Public Sector. The Company enables customers to design, enable, manage and service their IT environments.
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