Analysts forecast that PC Connection, Inc. (NASDAQ:CNXN) will announce $701.11 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for PC Connection’s earnings, with estimates ranging from $690.10 million to $712.12 million. PC Connection posted sales of $762.27 million in the same quarter last year, which suggests a negative year over year growth rate of 8%. The business is expected to announce its next earnings report on Thursday, February 21st.
On average, analysts expect that PC Connection will report full year sales of $2.71 billion for the current financial year, with estimates ranging from $2.68 billion to $2.75 billion. For the next year, analysts forecast that the firm will report sales of $2.82 billion, with estimates ranging from $2.80 billion to $2.85 billion. Zacks’ sales averages are a mean average based on a survey of research firms that cover PC Connection.
PC Connection (NASDAQ:CNXN) last announced its earnings results on Thursday, November 1st. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. PC Connection had a return on equity of 11.71% and a net margin of 2.33%. The firm had revenue of $658.50 million during the quarter, compared to analyst estimates of $673.10 million. During the same period last year, the firm posted $0.49 EPS. The business’s revenue was down 9.7% compared to the same quarter last year.
Several equities research analysts have recently issued reports on the company. BidaskClub lowered PC Connection from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. ValuEngine raised PC Connection from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Zacks Investment Research lowered PC Connection from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. Sidoti raised PC Connection from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 23rd. Finally, Roth Capital set a $40.00 target price on PC Connection and gave the company a “buy” rating in a research report on Friday, August 3rd. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. PC Connection presently has an average rating of “Buy” and a consensus target price of $36.50.
Shares of PC Connection stock opened at $31.20 on Wednesday. PC Connection has a 1 year low of $22.66 and a 1 year high of $43.05. The firm has a market cap of $814.96 million, a PE ratio of 16.96, a price-to-earnings-growth ratio of 1.60 and a beta of 1.25.
In related news, Director David Beffa-Negrini sold 6,523 shares of PC Connection stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $37.14, for a total value of $242,264.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barbara Duckett sold 2,000 shares of PC Connection stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $41.46, for a total value of $82,920.00. Following the completion of the sale, the director now directly owns 12,877 shares of the company’s stock, valued at approximately $533,880.42. The disclosure for this sale can be found here. Company insiders own 57.10% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP increased its holdings in PC Connection by 14.0% in the 2nd quarter. First Trust Advisors LP now owns 13,002 shares of the company’s stock worth $432,000 after acquiring an additional 1,596 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in PC Connection by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 82,800 shares of the company’s stock worth $2,749,000 after acquiring an additional 1,783 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in PC Connection by 2.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 73,444 shares of the company’s stock valued at $2,439,000 after buying an additional 1,837 shares in the last quarter. Victory Capital Management Inc. grew its holdings in PC Connection by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 14,892 shares of the company’s stock valued at $494,000 after buying an additional 2,043 shares in the last quarter. Finally, GSA Capital Partners LLP grew its holdings in PC Connection by 7.8% during the 2nd quarter. GSA Capital Partners LLP now owns 34,112 shares of the company’s stock valued at $1,133,000 after buying an additional 2,478 shares in the last quarter. 41.20% of the stock is owned by institutional investors.
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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