Analysts Offer Predictions for PC Connection, Inc.’s Q2 2024 Earnings (NASDAQ:CNXN)

PC Connection, Inc. (NASDAQ:CNXN) – Equities researchers at Sidoti Csr reduced their Q2 2024 earnings estimates for PC Connection in a research report issued 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 prior estimate 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.

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

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

PC Connection Stock Performance

Shares of NASDAQ CNXN opened at $62.07 on Monday. PC Connection has a fifty-two week low of $38.13 and a fifty-two week high of $70.55. The company has a 50 day simple moving average of $64.39 and a two-hundred day simple moving average of $63.62. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 19.89, a P/E/G ratio of 1.83 and a beta of 0.67.

PC Connection Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Tuesday, May 14th will be given a dividend of $0.10 per share. 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 (DPR) is currently 12.82%.

Institutional Investors Weigh In On PC Connection

Several institutional investors and hedge funds have recently made changes to their positions in CNXN. Maryland State Retirement & Pension System bought a new stake in shares of PC Connection during the third quarter valued at approximately $222,000. Brown Advisory Inc. grew its position in PC Connection by 12.5% in the 3rd quarter. Brown Advisory Inc. now owns 393,186 shares of the company’s stock worth $20,988,000 after purchasing an additional 43,578 shares during the period. Allspring Global Investments Holdings LLC grew its position in PC Connection by 0.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 107,655 shares of the company’s stock worth $5,747,000 after purchasing an additional 708 shares during the period. Teacher Retirement System of Texas grew its position in PC Connection by 30.9% in the 3rd quarter. Teacher Retirement System of Texas now owns 17,163 shares of the company’s stock worth $916,000 after purchasing an additional 4,051 shares during the period. Finally, Illinois Municipal Retirement Fund bought a new stake in PC Connection in the 3rd quarter worth approximately $332,000. Institutional investors own 42.85% of the company’s stock.

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.