Wall Street analysts forecast that PC Connection, Inc. (NASDAQ:CNXN) will post sales of $683.87 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for PC Connection’s earnings. The highest sales estimate is $697.40 million and the lowest is $670.33 million. PC Connection reported sales of $670.59 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 2%. The company is expected to announce its next quarterly earnings results on Thursday, April 19th.
On average, analysts expect that PC Connection will report full-year sales of $683.87 million for the current year, with estimates ranging from $2.97 billion to $3.05 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $0.00 per share. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for PC Connection.
PC Connection (NASDAQ:CNXN) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. PC Connection had a return on equity of 10.81% and a net margin of 1.88%. The business had revenue of $762.27 million for the quarter, compared to the consensus estimate of $757.40 million. During the same quarter in the prior year, the company earned $0.53 EPS. The business’s revenue was up 3.6% compared to the same quarter last year.
A number of equities analysts have recently issued reports on the company. ValuEngine downgraded PC Connection from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. BidaskClub downgraded PC Connection from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 25th. Finally, Zacks Investment Research cut PC Connection from a “hold” rating to a “sell” rating in a research note on Monday, February 5th.
PC Connection (NASDAQ CNXN) traded up $0.30 on Thursday, hitting $25.57. The stock had a trading volume of 55,345 shares, compared to its average volume of 33,577. PC Connection has a fifty-two week low of $22.66 and a fifty-two week high of $30.48. The company has a market cap of $685.69, a P/E ratio of 12.47, a price-to-earnings-growth ratio of 1.52 and a beta of 1.52.
In related news, Director Barbara Duckett sold 1,123 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $27.56, for a total transaction of $30,949.88. Following the completion of the sale, the director now directly owns 15,877 shares in the company, valued at approximately $437,570.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy J. Mcgrath sold 9,700 shares of the company’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $26.85, for a total value of $260,445.00. Following the sale, the chief executive officer now owns 207,207 shares of the company’s stock, valued at $5,563,507.95. The disclosure for this sale can be found here. Insiders have sold a total of 16,628 shares of company stock valued at $447,259 over the last 90 days. 57.30% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of CNXN. MetLife Investment Advisors LLC purchased a new stake in shares of PC Connection during the 4th quarter worth $141,000. Alliancebernstein L.P. purchased a new stake in shares of PC Connection during the 2nd quarter worth $262,000. First Trust Advisors LP purchased a new stake in shares of PC Connection during the 3rd quarter worth $263,000. The Manufacturers Life Insurance Company lifted its stake in shares of PC Connection by 8.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,874 shares of the company’s stock worth $268,000 after purchasing an additional 790 shares during the last quarter. Finally, California Public Employees Retirement System purchased a new stake in shares of PC Connection during the 3rd quarter worth $275,000. Hedge funds and other institutional investors own 40.64% of the company’s stock.
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About PC Connection
PC Connection, Inc is a provider of a range of information technology (IT) solutions. The Company conducts its business operations through three business segments: small- to medium-sized businesses (SMB), Large Account and Public Sector. The Company enables customers to design, enable, manage and service their IT environments.
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