Wall Street analysts expect PC Connection, Inc. (NASDAQ:CNXN) to report sales of $692.48 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for PC Connection’s earnings, with estimates ranging from $684.00 million to $700.95 million. PC Connection posted sales of $749.79 million during the same quarter last year, which would indicate a negative year over year growth rate of 7.6%. The company is scheduled to report its next earnings report on Thursday, July 26th.
On average, analysts expect that PC Connection will report full year sales of $2.74 billion for the current fiscal year, with estimates ranging from $2.73 billion to $2.74 billion. For the next financial year, analysts anticipate that the firm will post sales of $2.83 billion per share. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow PC Connection.
PC Connection (NASDAQ:CNXN) last posted its quarterly earnings data on Thursday, May 3rd. The company reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.06. PC Connection had a return on equity of 11.19% and a net margin of 2.05%. The company had revenue of $624.90 million during the quarter, compared to analyst estimates of $689.01 million. During the same period in the previous year, the business earned $0.28 EPS. PC Connection’s quarterly revenue was down 6.8% on a year-over-year basis.
Several equities research analysts have commented on the company. BidaskClub upgraded PC Connection from a “sell” rating to a “hold” rating in a research note on Tuesday, June 12th. Zacks Investment Research upgraded PC Connection from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Wednesday, May 30th.
In other news, Director Negrini David Beffa sold 3,477 shares of the business’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $32.00, for a total transaction of $111,264.00. Following the transaction, the director now directly owns 126,823 shares in the company, valued at approximately $4,058,336. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Barbara Duckett sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $29.57, for a total value of $59,140.00. The disclosure for this sale can be found here. 57.10% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of CNXN. Aperio Group LLC boosted its holdings in shares of PC Connection by 29.6% during the 4th quarter. Aperio Group LLC now owns 12,725 shares of the company’s stock worth $334,000 after purchasing an additional 2,909 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of PC Connection by 60.4% during the 4th quarter. California Public Employees Retirement System now owns 15,623 shares of the company’s stock worth $409,000 after purchasing an additional 5,884 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of PC Connection by 31.6% during the 4th quarter. Wells Fargo & Company MN now owns 64,945 shares of the company’s stock worth $1,702,000 after purchasing an additional 15,603 shares during the last quarter. Royce & Associates LP lifted its holdings in PC Connection by 9.1% in the fourth quarter. Royce & Associates LP now owns 1,720,218 shares of the company’s stock valued at $45,087,000 after acquiring an additional 143,928 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC lifted its holdings in PC Connection by 23.4% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 203,121 shares of the company’s stock valued at $5,324,000 after acquiring an additional 38,520 shares during the last quarter. Institutional investors and hedge funds own 40.48% of the company’s stock.
NASDAQ:CNXN traded up $0.47 during trading hours on Thursday, hitting $31.62. 65,000 shares of the stock were exchanged, compared to its average volume of 44,132. PC Connection has a 52-week low of $22.66 and a 52-week high of $32.00. The firm has a market cap of $834.12 million, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 1.60 and a beta of 1.43.
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.
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