$0.68 Earnings Per Share Expected for PC Connection, Inc. (CNXN) This Quarter

Brokerages expect PC Connection, Inc. (NASDAQ:CNXN) to report $0.68 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for PC Connection’s earnings. The highest EPS estimate is $0.73 and the lowest is $0.62. PC Connection reported earnings of $0.49 per share during the same quarter last year, which would indicate a positive year over year growth rate of 38.8%. The company is expected to report its next quarterly earnings report on Thursday, October 25th.

On average, analysts expect that PC Connection will report full year earnings of $2.51 per share for the current financial year, with EPS estimates ranging from $2.45 to $2.56. For the next year, analysts expect that the business will post earnings of $2.66 per share, with EPS estimates ranging from $2.62 to $2.70. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow PC Connection.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings data on Thursday, August 2nd. The company reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.05. PC Connection had a return on equity of 11.73% and a net margin of 2.24%. The firm had revenue of $706.57 million for the quarter, compared to the consensus estimate of $696.68 million. During the same quarter last year, the business posted $0.51 earnings per share. The firm’s revenue was down 5.8% compared to the same quarter last year.

Several equities research analysts have issued reports on the company. BidaskClub raised PC Connection from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 17th. Roth Capital set a $40.00 target price on PC Connection and gave the stock a “buy” rating in a research note on Friday, August 3rd. Sidoti cut PC Connection from a “buy” rating to a “neutral” rating in a research note on Monday, July 16th. ValuEngine raised PC Connection from a “hold” rating to a “buy” rating in a research note on Friday, June 22nd. Finally, Zacks Investment Research cut PC Connection from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $36.50.

Shares of PC Connection stock opened at $39.49 on Monday. The company has a market cap of $1.06 billion, a P/E ratio of 21.46, a P/E/G ratio of 1.99 and a beta of 1.33. PC Connection has a one year low of $22.66 and a one year high of $43.05.

In other news, Director Barbara Duckett sold 2,000 shares of PC Connection stock in a transaction on Friday, September 14th. The stock was sold at an average price of $41.46, for a total value of $82,920.00. Following the completion of the sale, the director now directly owns 12,877 shares of the company’s stock, valued at $533,880.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Negrini David Beffa sold 6,523 shares of PC Connection stock in a transaction on Monday, August 13th. The shares were sold at an average price of $37.14, for a total value of $242,264.22. The disclosure for this sale can be found here. Insiders own 57.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNXN. US Bancorp DE lifted its holdings in PC Connection by 123.0% during the 1st quarter. US Bancorp DE now owns 6,404 shares of the company’s stock worth $160,000 after buying an additional 3,532 shares during the last quarter. Victory Capital Management Inc. increased its position in PC Connection by 37.7% in the 1st quarter. Victory Capital Management Inc. now owns 12,849 shares of the company’s stock valued at $321,000 after acquiring an additional 3,517 shares during the period. First Trust Advisors LP increased its position in PC Connection by 14.0% in the 2nd quarter. First Trust Advisors LP now owns 13,002 shares of the company’s stock valued at $432,000 after acquiring an additional 1,596 shares during the period. Chicago Equity Partners LLC acquired a new position in PC Connection in the 2nd quarter valued at about $444,000. Finally, Acadian Asset Management LLC increased its position in PC Connection by 135.4% in the 2nd quarter. Acadian Asset Management LLC now owns 17,006 shares of the company’s stock valued at $564,000 after acquiring an additional 9,781 shares during the period. 41.31% of the stock is owned by hedge funds and other institutional investors.

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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