$0.62 EPS Expected for PC Connection, Inc. (CNXN) This Quarter

Wall Street brokerages forecast that PC Connection, Inc. (NASDAQ:CNXN) will report earnings of $0.62 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for PC Connection’s earnings, with estimates ranging from $0.59 to $0.64. PC Connection reported earnings of $0.54 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 14.8%. The firm is scheduled to issue its next earnings report on Thursday, February 21st.

On average, analysts expect that PC Connection will report full year earnings of $2.23 per share for the current financial year, with EPS estimates ranging from $2.20 to $2.25. For the next year, analysts forecast that the business will report earnings of $2.37 per share, with EPS estimates ranging from $2.33 to $2.40. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover PC Connection.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings results on Thursday, November 1st. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. PC Connection had a net margin of 2.33% and a return on equity of 11.54%. The firm had revenue of $658.50 million during the quarter, compared to the consensus estimate of $673.10 million. During the same period in the previous year, the firm posted $0.49 earnings per share. The business’s revenue was down 9.7% compared to the same quarter last year.

A number of research analysts have recently issued reports on the stock. BidaskClub upgraded shares of PC Connection from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 13th. ValuEngine cut shares of PC Connection from a “hold” rating to a “sell” rating in a report on Friday, October 19th. Zacks Investment Research cut shares of PC Connection from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. Roth Capital set a $40.00 price objective on shares of PC Connection and gave the company a “buy” rating in a report on Friday, August 3rd. Finally, Sidoti upgraded shares of PC Connection from a “neutral” rating to a “buy” rating in a report on Tuesday, October 23rd. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $36.50.

In other news, Director Barbara Duckett sold 2,000 shares of PC Connection stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $41.46, for a total transaction of $82,920.00. Following the completion of the transaction, the director now directly owns 12,877 shares in the company, valued at $533,880.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 57.10% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC purchased a new position in PC Connection during the third quarter worth about $255,000. MetLife Investment Advisors LLC boosted its holdings in PC Connection by 63.2% during the third quarter. MetLife Investment Advisors LLC now owns 8,755 shares of the company’s stock worth $340,000 after purchasing an additional 3,389 shares during the last quarter. First Trust Advisors LP boosted its holdings in PC Connection by 14.0% during the second quarter. First Trust Advisors LP now owns 13,002 shares of the company’s stock worth $432,000 after purchasing an additional 1,596 shares during the last quarter. Chicago Equity Partners LLC purchased a new position in PC Connection during the second quarter worth about $444,000. Finally, Victory Capital Management Inc. boosted its holdings in PC Connection by 15.9% during the second quarter. Victory Capital Management Inc. now owns 14,892 shares of the company’s stock worth $494,000 after purchasing an additional 2,043 shares during the last quarter. Hedge funds and other institutional investors own 41.86% of the company’s stock.

Shares of NASDAQ CNXN opened at $31.34 on Wednesday. The stock has a market cap of $839.59 million, a PE ratio of 14.61, a price-to-earnings-growth ratio of 1.76 and a beta of 1.25. PC Connection has a 1 year low of $22.66 and a 1 year high of $43.05.

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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