Zacks: Analysts Anticipate PC Connection, Inc. (CNXN) to Post $0.53 EPS

Analysts expect PC Connection, Inc. (NASDAQ:CNXN) to report earnings per share (EPS) of $0.53 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for PC Connection’s earnings. The lowest EPS estimate is $0.48 and the highest is $0.58. PC Connection also reported earnings per share of $0.53 in the same quarter last year. The business is expected to report its next quarterly earnings results on Wednesday, February 7th.

According to Zacks, analysts expect that PC Connection will report full-year earnings of $1.81 per share for the current year, with EPS estimates ranging from $1.77 to $1.85. For the next fiscal year, analysts forecast that the firm will post earnings of $2.11 per share, with EPS estimates ranging from $2.07 to $2.14. Zacks’ earnings per share calculations are an average based on a survey of research analysts that cover PC Connection.

PC Connection (NASDAQ:CNXN) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49. PC Connection had a return on equity of 11.00% and a net margin of 1.63%. The company had revenue of $729.23 million for the quarter, compared to analysts’ expectations of $727.84 million. During the same period last year, the firm earned $0.53 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis.

CNXN has been the topic of several recent analyst reports. Roth Capital set a $33.00 target price on PC Connection and gave the stock a “buy” rating in a report on Friday, July 28th. Zacks Investment Research raised PC Connection from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Monday, July 31st. Finally, ValuEngine downgraded PC Connection from a “buy” rating to a “hold” rating in a report on Friday, September 1st.

In other PC Connection news, CEO Timothy J. Mcgrath sold 26,122 shares of the company’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $25.82, for a total transaction of $674,470.04. Following the transaction, the chief executive officer now owns 224,907 shares of the company’s stock, valued at approximately $5,807,098.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Negrini David Beffa sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $26.00, for a total value of $520,000.00. Following the transaction, the director now directly owns 129,800 shares in the company, valued at approximately $3,374,800. The disclosure for this sale can be found here. 57.30% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of CNXN. Bank of New York Mellon Corp acquired a new position in PC Connection during the 1st quarter worth $2,374,000. Swiss National Bank acquired a new position in PC Connection during the 1st quarter worth $593,000. Ameriprise Financial Inc. acquired a new position in PC Connection during the 1st quarter worth $357,000. Parametric Portfolio Associates LLC acquired a new position in PC Connection during the 1st quarter worth $727,000. Finally, Envestnet Asset Management Inc. acquired a new position in PC Connection during the 1st quarter worth $188,000. 41.49% of the stock is currently owned by hedge funds and other institutional investors.

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PC Connection Company Profile

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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