Brokerages expect PC Connection, Inc. (NASDAQ:CNXN) to report sales of $712.77 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for PC Connection’s earnings, with estimates ranging from $708.53 million to $717.00 million. PC Connection posted sales of $706.57 million during the same quarter last year, which indicates a positive year-over-year growth rate of 0.9%. The business is expected to issue its next earnings results on Thursday, August 1st.
According to Zacks, analysts expect that PC Connection will report full year sales of $2.76 billion for the current year, with estimates ranging from $2.76 billion to $2.77 billion. For the next financial year, analysts expect that the company will post sales of $2.86 billion, with estimates ranging from $2.82 billion to $2.90 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover PC Connection.
PC Connection (NASDAQ:CNXN) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.04. The business had revenue of $632.92 million for the quarter, compared to analyst estimates of $647.08 million. PC Connection had a return on equity of 12.51% and a net margin of 2.44%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 earnings per share.
A number of brokerages have recently weighed in on CNXN. BidaskClub lowered PC Connection from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 20th. Zacks Investment Research upgraded PC Connection from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Friday, February 8th. ValuEngine downgraded PC Connection from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Finally, Sidoti downgraded PC Connection from a “buy” rating to a “neutral” rating and set a $40.00 target price for the company. in a research report on Friday, February 15th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $40.00.
In related news, Director Jack L. Ferguson sold 3,000 shares of PC Connection stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $41.65, for a total transaction of $124,950.00. Following the sale, the director now directly owns 87,680 shares in the company, valued at $3,651,872. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Negrini David Beffa sold 12,300 shares of PC Connection stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $40.14, for a total value of $493,722.00. Following the sale, the director now owns 109,500 shares in the company, valued at $4,395,330. The disclosure for this sale can be found here. Company insiders own 57.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of CNXN. Morgan Stanley increased its position in PC Connection by 57.1% in the third quarter. Morgan Stanley now owns 77,457 shares of the company’s stock worth $3,012,000 after buying an additional 28,163 shares during the last quarter. Royce & Associates LP grew its position in shares of PC Connection by 0.4% in the fourth quarter. Royce & Associates LP now owns 1,165,456 shares of the company’s stock valued at $34,649,000 after purchasing an additional 4,574 shares in the last quarter. Citigroup Inc. grew its position in shares of PC Connection by 17.6% in the fourth quarter. Citigroup Inc. now owns 3,702 shares of the company’s stock valued at $110,000 after purchasing an additional 554 shares in the last quarter. New York State Common Retirement Fund increased its holdings in PC Connection by 56.6% during the 4th quarter. New York State Common Retirement Fund now owns 29,811 shares of the company’s stock valued at $886,000 after purchasing an additional 10,769 shares during the period. Finally, Vanguard Group Inc. increased its holdings in PC Connection by 3.6% during the 3rd quarter. Vanguard Group Inc. now owns 563,199 shares of the company’s stock valued at $21,903,000 after purchasing an additional 19,393 shares during the period. Institutional investors and hedge funds own 41.32% of the company’s stock.
NASDAQ:CNXN traded up $0.10 on Thursday, hitting $34.86. The stock had a trading volume of 35,389 shares, compared to its average volume of 66,103. The firm has a market cap of $908.46 million, a P/E ratio of 14.71, a PEG ratio of 1.77 and a beta of 1.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.07 and a current ratio of 2.60. PC Connection has a 52 week low of $27.04 and a 52 week high of $43.05.
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.
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