Analysts expect that PC Connection, Inc. (NASDAQ:CNXN) will announce $733.84 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for PC Connection’s earnings. The highest sales estimate is $747.67 million and the lowest is $720.00 million. PC Connection posted sales of $709.52 million in the same quarter last year, which suggests a positive year over year growth rate of 3.4%. The company is expected to issue its next earnings results on Thursday, February 6th.
According to Zacks, analysts expect that PC Connection will report full-year sales of $2.84 billion for the current fiscal year, with estimates ranging from $2.82 billion to $2.85 billion. For the next fiscal year, analysts expect that the company will report sales of $2.94 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for PC Connection.
PC Connection (NASDAQ:CNXN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.33. The company had revenue of $729.41 million during the quarter, compared to the consensus estimate of $688.20 million. PC Connection had a return on equity of 14.68% and a net margin of 2.90%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 earnings per share.
CNXN has been the subject of a number of research reports. ValuEngine cut PC Connection from a “hold” rating to a “sell” rating in a research note on Saturday, November 23rd. BidaskClub downgraded shares of PC Connection from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 23rd. Sidoti set a $47.00 price target on shares of PC Connection and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Zacks Investment Research upgraded shares of PC Connection from a “hold” rating to a “strong-buy” rating and set a $56.00 price target for the company in a report on Friday, November 1st.
In other PC Connection news, CEO Timothy J. Mcgrath sold 12,845 shares of PC Connection stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $51.09, for a total value of $656,251.05. Following the sale, the chief executive officer now owns 244,207 shares of the company’s stock, valued at approximately $12,476,535.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Negrini David Beffa sold 1,463 shares of PC Connection stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $51.89, for a total value of $75,915.07. Following the completion of the sale, the director now directly owns 110,926 shares in the company, valued at approximately $5,755,950.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,777 shares of company stock valued at $1,629,374. Company insiders own 57.70% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Assetmark Inc. raised its position in PC Connection by 30.4% in the 2nd quarter. Assetmark Inc. now owns 2,294 shares of the company’s stock valued at $80,000 after buying an additional 535 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of PC Connection by 1,600.0% in the second quarter. Nisa Investment Advisors LLC now owns 4,250 shares of the company’s stock valued at $149,000 after purchasing an additional 4,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of PC Connection in the second quarter valued at approximately $207,000. Petrus Trust Company LTA bought a new stake in shares of PC Connection in the second quarter worth $347,000. Finally, Alberta Investment Management Corp lifted its position in shares of PC Connection by 108.6% in the second quarter. Alberta Investment Management Corp now owns 12,100 shares of the company’s stock worth $423,000 after purchasing an additional 6,300 shares in the last quarter. Institutional investors and hedge funds own 41.13% of the company’s stock.
Shares of NASDAQ:CNXN traded down $0.14 during trading on Friday, hitting $49.00. 1,057 shares of the company’s stock traded hands, compared to its average volume of 94,040. The company has a current ratio of 2.76, a quick ratio of 2.27 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average price of $46.48 and a 200-day moving average price of $38.16. PC Connection has a 52 week low of $27.11 and a 52 week high of $51.88. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 2.02 and a beta of 1.13.
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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