Climb Global Solutions (NASDAQ:CLMB) Issues Earnings Results, Misses Estimates By $0.15 EPS

Climb Global Solutions (NASDAQ:CLMB) posted its earnings results on Wednesday. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.15), Zacks reports. The business had revenue of $92.42 million for the quarter, compared to analyst estimates of $105.44 million. Climb Global Solutions had a net margin of 3.50% and a return on equity of 20.65%. During the same quarter in the prior year, the firm earned $0.74 earnings per share.

Climb Global Solutions Stock Performance

NASDAQ CLMB traded down $6.54 on Thursday, reaching $59.50. 36,760 shares of the company’s stock traded hands, compared to its average volume of 10,039. The stock has a 50 day moving average price of $67.15 and a 200-day moving average price of $56.98. The firm has a market cap of $273.70 million, a price-to-earnings ratio of 20.51, a P/E/G ratio of 2.21 and a beta of 0.98. Climb Global Solutions has a fifty-two week low of $37.67 and a fifty-two week high of $73.25. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 1.07.

Climb Global Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 11th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $0.68 dividend on an annualized basis and a yield of 1.14%. Climb Global Solutions’s dividend payout ratio is presently 25.00%.

Wall Street Analyst Weigh In

Separately, Barrington Research restated an “outperform” rating and set a $76.00 target price on shares of Climb Global Solutions in a research report on Tuesday.

Insiders Place Their Bets

In other Climb Global Solutions news, CEO Dale Richard Foster sold 3,500 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $65.49, for a total value of $229,215.00. Following the completion of the transaction, the chief executive officer now owns 102,092 shares in the company, valued at $6,686,005.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Climb Global Solutions news, CMO Charles Edward Bass sold 500 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $65.05, for a total value of $32,525.00. Following the completion of the transaction, the chief marketing officer now owns 37,097 shares in the company, valued at $2,413,159.85. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Dale Richard Foster sold 3,500 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $65.49, for a total transaction of $229,215.00. Following the completion of the transaction, the chief executive officer now owns 102,092 shares of the company’s stock, valued at approximately $6,686,005.08. The disclosure for this sale can be found here. Insiders own 9.70% of the company’s stock.

About Climb Global Solutions

Climb Global Solutions Inc operates as a value-added information technology (IT) distribution and solutions company in the United States, Canada, Europe, the United Kingdom, and internationally. It operates in two segments, Distribution and Solutions. The company distributes technical software to corporate and value-added resellers, consultants, and systems integrators under the name Climb Channel Solutions; and provides cloud solutions and resells software, hardware, and services under the name Grey Matter.