Q2 2024 EPS Estimates for PC Connection, Inc. Reduced by Sidoti Csr (NASDAQ:CNXN)

PC Connection, Inc. (NASDAQ:CNXN) – Equities researchers at Sidoti Csr lowered their Q2 2024 earnings per share (EPS) estimates for PC Connection in a research report issued on Monday, April 22nd. Sidoti Csr analyst A. Lebiedzinski now expects that the company will post earnings per share of $0.90 for the quarter, down from their prior forecast of $0.92. The consensus estimate for PC Connection’s current full-year earnings is $3.48 per share. Sidoti Csr also issued estimates for PC Connection’s Q2 2025 earnings at $1.03 EPS.

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

Separately, StockNews.com upgraded PC Connection from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 18th.

PC Connection Stock Down 0.1 %

CNXN stock opened at $64.98 on Wednesday. The business has a 50 day moving average price of $65.35 and a two-hundred day moving average price of $63.11. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 1.79 and a beta of 0.66. PC Connection has a twelve month low of $38.13 and a twelve month high of $70.55.

Institutional Trading of PC Connection

A number of hedge funds have recently made changes to their positions in CNXN. Arizona State Retirement System bought a new stake in PC Connection in the 4th quarter valued at $222,000. Maryland State Retirement & Pension System acquired a new position in shares of PC Connection in the third quarter valued at about $222,000. Jump Financial LLC bought a new position in PC Connection during the third quarter worth about $272,000. Truist Financial Corp acquired a new stake in PC Connection in the 4th quarter worth about $352,000. Finally, Louisiana State Employees Retirement System bought a new stake in PC Connection in the 4th quarter valued at about $383,000. 42.85% of the stock is owned by institutional investors and hedge funds.

PC Connection Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.62%. This is a boost from PC Connection’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Monday, February 26th. PC Connection’s dividend payout ratio (DPR) is presently 12.66%.

About PC Connection

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.