PC Connection (NASDAQ:CNXN) Releases Earnings Results, Misses Expectations By $0.12 EPS

PC Connection (NASDAQ:CNXN) announced its quarterly earnings data on Wednesday. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.12), Zacks reports. PC Connection had a net margin of 3.23% and a return on equity of 10.30%. During the same period last year, the firm earned $0.90 earnings per share.

PC Connection Trading Down 11.1 %

CNXN stock opened at $63.74 on Friday. The company’s 50 day moving average is $71.49 and its two-hundred day moving average is $71.37. The stock has a market cap of $1.68 billion, a P/E ratio of 18.69, a PEG ratio of 2.07 and a beta of 0.67. PC Connection has a twelve month low of $57.47 and a twelve month high of $77.19.

PC Connection Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, February 25th will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, February 25th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.94%. This is an increase from PC Connection’s previous quarterly dividend of $0.10. PC Connection’s payout ratio is presently 11.73%.

Insider Transactions at PC Connection

In related news, Director Negrini David Beffa sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the completion of the sale, the director now owns 71,750 shares in the company, valued at $5,022,500. This represents a 6.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 56.50% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded PC Connection from a “hold” rating to a “buy” rating in a report on Thursday, November 28th.

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.