Climb Global Solutions, Inc. to Post Q3 2024 Earnings of $0.84 Per Share, Barrington Research Forecasts (NASDAQ:CLMB)

Climb Global Solutions, Inc. (NASDAQ:CLMB) – Analysts at Barrington Research upped their Q3 2024 earnings per share estimates for Climb Global Solutions in a report released on Monday, May 6th. Barrington Research analyst V. Colicchio now anticipates that the company will post earnings of $0.84 per share for the quarter, up from their prior estimate of $0.77. Barrington Research has a “Outperform” rating and a $68.00 price objective on the stock. The consensus estimate for Climb Global Solutions’ current full-year earnings is $2.92 per share. Barrington Research also issued estimates for Climb Global Solutions’ Q4 2024 earnings at $0.96 EPS.

Climb Global Solutions Stock Down 0.9 %

CLMB stock opened at $56.36 on Wednesday. Climb Global Solutions has a one year low of $37.67 and a one year high of $73.25. The firm’s 50 day moving average price is $67.00 and its 200-day moving average price is $57.46. The firm has a market cap of $258.41 million, a PE ratio of 21.84, a PEG ratio of 2.02 and a beta of 0.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.08 and a current ratio of 1.09.

Climb Global Solutions (NASDAQ:CLMB) last issued its earnings results on Wednesday, May 1st. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.15). Climb Global Solutions had a return on equity of 18.93% and a net margin of 3.26%. The firm had revenue of $92.42 million for the quarter, compared to analysts’ expectations of $105.44 million. During the same period last year, the firm earned $0.74 earnings per share.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Cove Street Capital LLC raised its position in Climb Global Solutions by 34.0% in the 3rd quarter. Cove Street Capital LLC now owns 199,102 shares of the company’s stock valued at $8,810,000 after purchasing an additional 50,499 shares in the last quarter. Wasatch Advisors LP increased its stake in shares of Climb Global Solutions by 41.8% during the first quarter. Wasatch Advisors LP now owns 146,298 shares of the company’s stock worth $10,370,000 after buying an additional 43,095 shares during the period. Tieton Capital Management LLC raised its holdings in Climb Global Solutions by 32.5% in the fourth quarter. Tieton Capital Management LLC now owns 123,404 shares of the company’s stock valued at $6,766,000 after acquiring an additional 30,248 shares in the last quarter. Ballast Asset Management LP purchased a new position in Climb Global Solutions in the third quarter worth approximately $2,753,000. Finally, Albert D Mason Inc. grew its holdings in Climb Global Solutions by 0.5% during the 1st quarter. Albert D Mason Inc. now owns 44,303 shares of the company’s stock worth $3,140,000 after acquiring an additional 233 shares in the last quarter. Institutional investors and hedge funds own 49.72% of the company’s stock.

Insiders Place Their Bets

In related news, CMO Charles Edward Bass sold 500 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $65.05, for a total transaction of $32,525.00. Following the completion of the transaction, the chief marketing officer now owns 37,097 shares of the company’s stock, valued at approximately $2,413,159.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CMO Charles Edward Bass sold 500 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $65.05, for a total value of $32,525.00. Following the sale, the chief marketing officer now owns 37,097 shares in the company, valued at approximately $2,413,159.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Dale Richard Foster sold 3,500 shares of the firm’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 transaction, the chief executive officer now owns 102,092 shares of the company’s stock, valued at $6,686,005.08. The disclosure for this sale can be found here. 9.70% of the stock is currently owned by insiders.

Climb Global Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 13th will be given a $0.17 dividend. The ex-dividend date is Friday, May 10th. This represents a $0.68 dividend on an annualized basis and a yield of 1.21%. Climb Global Solutions’s payout ratio is currently 26.36%.

Climb Global Solutions Company Profile

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.