Sidoti Csr Weighs in on PC Connection, Inc.’s Q1 2024 Earnings (NASDAQ:CNXN)

PC Connection, Inc. (NASDAQ:CNXN) – Analysts at Sidoti Csr dropped their Q1 2024 earnings per share estimates for PC Connection in a report released on Monday, April 22nd. Sidoti Csr analyst A. Lebiedzinski now anticipates that the company will post earnings per share of $0.55 for the quarter, down from their prior estimate of $0.60. The consensus estimate for PC Connection’s current full-year earnings is $3.50 per share. Sidoti Csr also issued estimates for PC Connection’s Q3 2024 earnings at $1.04 EPS, Q4 2024 earnings at $0.99 EPS, FY2024 earnings at $3.48 EPS, Q1 2025 earnings at $0.71 EPS and Q4 2025 earnings at $1.13 EPS.

PC Connection (NASDAQ:CNXN) last posted its earnings results on Wednesday, February 14th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.02. The company had revenue of $696.47 million during the quarter, compared to the consensus estimate of $673.51 million. PC Connection had a return on equity of 10.55% and a net margin of 2.92%.

Separately, StockNews.com raised PC Connection from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 18th.

PC Connection Stock Up 4.3 %

CNXN stock opened at $65.04 on Tuesday. The company has a market cap of $1.71 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 1.80 and a beta of 0.66. The business has a 50-day simple moving average of $65.33 and a 200 day simple moving average of $63.04. PC Connection has a 52 week low of $38.13 and a 52 week high of $70.55.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Maryland State Retirement & Pension System bought a new stake in shares of PC Connection during the third quarter worth about $222,000. Arizona State Retirement System bought a new stake in PC Connection in the fourth quarter valued at approximately $222,000. Jump Financial LLC bought a new stake in PC Connection in the third quarter valued at approximately $272,000. Illinois Municipal Retirement Fund bought a new stake in PC Connection in the third quarter valued at approximately $332,000. Finally, Truist Financial Corp bought a new stake in PC Connection in the fourth quarter valued at approximately $352,000. Institutional investors own 42.85% of the company’s stock.

PC Connection Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Monday, February 26th. This is an increase from PC Connection’s previous quarterly dividend of $0.08. PC Connection’s payout ratio is 12.66%.

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.