Equities research analysts expect PC Connection, Inc. (NASDAQ:CNXN) to post $733.84 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for PC Connection’s earnings, with the highest sales estimate coming in at $747.67 million and the lowest estimate coming in at $720.00 million. PC Connection posted sales of $709.52 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.4%. The business is expected to report its next quarterly earnings report on Thursday, February 6th.
On average, analysts expect that PC Connection will report full-year sales of $2.84 billion for the current year, with estimates ranging from $2.82 billion to $2.85 billion. For the next fiscal year, analysts expect that the firm will post sales of $2.94 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow PC Connection.
PC Connection (NASDAQ:CNXN) last released its earnings results on Wednesday, October 30th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.33. PC Connection had a return on equity of 14.68% and a net margin of 2.90%. The business had revenue of $729.41 million for the quarter, compared to the consensus estimate of $688.20 million. During the same period last year, the business earned $0.51 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year.
CNXN has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of PC Connection from a “hold” rating to a “strong-buy” rating and set a $56.00 price objective for the company in a research note on Friday, November 1st. BidaskClub cut shares of PC Connection from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 23rd. ValuEngine lowered shares of PC Connection from a “hold” rating to a “sell” rating in a research report on Saturday, November 23rd. Finally, Sidoti set a $47.00 price objective on PC Connection and gave the company a “buy” rating in a report on Friday, October 25th.
Shares of CNXN traded down $0.14 on Friday, reaching $49.00. 1,057 shares of the stock traded hands, compared to its average volume of 94,040. The stock’s 50-day moving average price is $46.48 and its 200-day moving average price is $38.16. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.76 and a quick ratio of 2.27. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 20.93, a P/E/G ratio of 2.02 and a beta of 1.13. PC Connection has a 12 month low of $27.11 and a 12 month high of $51.88.
In other news, Director Negrini David Beffa sold 1,463 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $51.89, for a total value of $75,915.07. Following the transaction, the director now directly owns 110,926 shares of the company’s stock, valued at approximately $5,755,950.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy J. Mcgrath sold 12,845 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $51.09, for a total value of $656,251.05. Following the sale, the chief executive officer now owns 244,207 shares in the company, valued at $12,476,535.63. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,777 shares of company stock worth $1,629,374. 57.70% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Alberta Investment Management Corp lifted its position in shares of PC Connection by 79.3% during the third quarter. Alberta Investment Management Corp now owns 21,700 shares of the company’s stock worth $844,000 after purchasing an additional 9,600 shares in the last quarter. Rhumbline Advisers lifted its holdings in PC Connection by 9.0% in the third quarter. Rhumbline Advisers now owns 18,046 shares of the company’s stock valued at $702,000 after buying an additional 1,494 shares during the period. Denali Advisors LLC grew its holdings in PC Connection by 138.1% during the 3rd quarter. Denali Advisors LLC now owns 56,019 shares of the company’s stock worth $2,179,000 after acquiring an additional 32,487 shares during the period. James Investment Research Inc. raised its stake in PC Connection by 5.2% during the 3rd quarter. James Investment Research Inc. now owns 36,313 shares of the company’s stock worth $1,413,000 after buying an additional 1,810 shares during the period. Finally, Chicago Equity Partners LLC grew its stake in PC Connection by 4.1% in the third quarter. Chicago Equity Partners LLC now owns 14,005 shares of the company’s stock valued at $545,000 after acquiring an additional 550 shares during the period. Hedge funds and other institutional investors own 41.13% of the company’s stock.
PC Connection Company Profile
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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