PC Connection, Inc. (NASDAQ:CNXN) Declares Dividend Increase – $0.20 Per Share

PC Connection, Inc. (NASDAQ:CNXN) declared a quarterly dividend on Wednesday, February 4th. Shareholders of record on Tuesday, February 17th will be paid a dividend of 0.20 per share on Friday, March 6th. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, February 17th. This is a 33.3% increase from PC Connection’s previous quarterly dividend of $0.15.

PC Connection has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 2 years. PC Connection has a dividend payout ratio of 15.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect PC Connection to earn $3.76 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 16.0%.

PC Connection Price Performance

PC Connection stock traded up $2.86 during midday trading on Thursday, hitting $61.65. 7,469 shares of the company were exchanged, compared to its average volume of 75,691. The company has a market cap of $1.56 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 1.55 and a beta of 0.83. The company’s fifty day moving average price is $58.71 and its 200-day moving average price is $60.62. PC Connection has a fifty-two week low of $54.97 and a fifty-two week high of $73.31.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings results on Wednesday, February 4th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. PC Connection had a net margin of 2.91% and a return on equity of 9.61%. The business had revenue of $702.94 million during the quarter, compared to analyst estimates of $735.49 million. On average, analysts expect that PC Connection will post 3.33 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Zacks Research upgraded PC Connection from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Weiss Ratings restated a “hold (c)” rating on shares of PC Connection in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

PC Connection Company Profile

PC Connection, Inc (NASDAQ: CNXN), now operating under the trade name Connection, is a value-added provider of information technology solutions founded in 1982 and headquartered in Merrimack, New Hampshire. The company offers a broad portfolio of hardware and software products sourced from leading technology vendors, alongside professional services designed to help organizations design, deploy and maintain IT environments.

Connection’s product offerings encompass desktop and notebook computers, servers and storage systems, networking and cybersecurity solutions, as well as cloud and virtualization technologies.