PC Connection, Inc. Expected to Post Q2 2024 Earnings of $0.90 Per Share (NASDAQ:CNXN)

PC Connection, Inc. (NASDAQ:CNXN) – Investment analysts at Sidoti Csr dropped their Q2 2024 EPS estimates for PC Connection in a research note issued to investors on Monday, April 22nd. Sidoti Csr analyst A. Lebiedzinski now expects that the company will post earnings of $0.90 per share for the quarter, down from their previous estimate 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 issued its quarterly earnings data 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. PC Connection had a net margin of 2.92% and a return on equity of 10.55%. The business had revenue of $696.47 million for the quarter, compared to analysts’ expectations of $673.51 million.

Separately, StockNews.com cut shares of PC Connection from a “strong-buy” rating to a “buy” rating in a research note on Friday.

PC Connection Stock Down 0.8 %

Shares of NASDAQ CNXN opened at $64.43 on Wednesday. PC Connection has a fifty-two week low of $38.13 and a fifty-two week high of $70.55. The firm’s 50-day simple moving average is $65.34 and its 200 day simple moving average is $63.13. The stock has a market cap of $1.70 billion, a P/E ratio of 20.39, a P/E/G ratio of 1.87 and a beta of 0.66.

PC Connection Increases Dividend

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

Institutional Investors Weigh In On PC Connection

Hedge funds and other institutional investors have recently bought and sold shares of the business. Maryland State Retirement & Pension System acquired a new stake in PC Connection during the 3rd quarter worth about $222,000. Arizona State Retirement System acquired a new stake in PC Connection during the 4th quarter worth about $222,000. Jump Financial LLC acquired a new stake in PC Connection during the 3rd quarter worth about $272,000. Illinois Municipal Retirement Fund acquired a new stake in PC Connection during the 3rd quarter worth about $332,000. Finally, Truist Financial Corp acquired a new stake in PC Connection during the 4th quarter worth about $352,000. 42.85% of the stock is currently owned by institutional investors.

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.