Q1 2024 EPS Estimates for PC Connection, Inc. (NASDAQ:CNXN) Lowered by Sidoti Csr

PC Connection, Inc. (NASDAQ:CNXN) – Equities researchers at Sidoti Csr cut their Q1 2024 earnings estimates for PC Connection in a report released on Monday, April 22nd. Sidoti Csr analyst A. Lebiedzinski now expects that the company will post earnings per share of $0.55 for the quarter, down from their previous forecast of $0.60. The consensus estimate for PC Connection’s current full-year earnings is $3.50 per share. Sidoti Csr also issued estimates for PC Connection’s Q3 2024 earnings at $1.04 EPS, Q4 2024 earnings at $0.99 EPS, FY2024 earnings at $3.48 EPS, Q1 2025 earnings at $0.71 EPS and Q4 2025 earnings at $1.13 EPS.

Separately, StockNews.com raised shares of PC Connection from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 18th.

PC Connection Stock Down 0.7 %

Shares of CNXN opened at $62.36 on Tuesday. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 1.80 and a beta of 0.66. PC Connection has a twelve month low of $38.13 and a twelve month high of $70.55. The company has a 50 day moving average of $65.33 and a two-hundred day moving average of $63.04.

PC Connection (NASDAQ:CNXN) last announced its earnings results on Wednesday, February 14th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.02. The company had revenue of $696.47 million during the quarter, compared to the consensus estimate of $673.51 million. PC Connection had a net margin of 2.92% and a return on equity of 10.55%.

PC Connection Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, February 26th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.64%. This is a boost from PC Connection’s previous quarterly dividend of $0.08. PC Connection’s dividend payout ratio (DPR) is currently 12.66%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of PC Connection by 34.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 95,358 shares of the company’s stock worth $6,287,000 after buying an additional 24,539 shares during the last quarter. Campbell & CO Investment Adviser LLC raised its holdings in shares of PC Connection by 80.7% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 24,577 shares of the company’s stock worth $1,652,000 after purchasing an additional 10,979 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of PC Connection by 4.5% during the fourth quarter. TD Asset Management Inc now owns 16,100 shares of the company’s stock worth $1,082,000 after purchasing an additional 700 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of PC Connection by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 232,936 shares of the company’s stock worth $15,656,000 after purchasing an additional 3,812 shares during the last quarter. Finally, Truist Financial Corp purchased a new position in shares of PC Connection during the fourth quarter worth $352,000. Hedge funds and other 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.