Climb Global Solutions (NASDAQ:CLMB) Issues Quarterly Earnings Results, Beats Estimates By $0.49 EPS

Key Points

• Climb Global Solutions reported quarterly earnings of $1.39 EPS, exceeding analyst expectations by $0.49 and generating $159.28 million in revenue, well above the forecasted $113.25 million.
• The company announced a quarterly dividend of $0.17 per share, with a dividend yield of 0.6% and a payout ratio of 15.93%.
• Climb Global Solutions's stock saw a significant increase, rising 16.2%, and currently has a price target of $136.00 set by analysts at Barrington Research.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) announced its earnings results on Wednesday. The company reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.49, Zacks reports. Climb Global Solutions had a net margin of 3.82% and a return on equity of 29.16%. The business had revenue of $159.28 million during the quarter, compared to analysts' expectations of $113.25 million.

Climb Global Solutions Stock Performance

Shares of NASDAQ CLMB traded up $1.00 during midday trading on Tuesday, reaching $108.32. The stock had a trading volume of 35,926 shares, compared to its average volume of 53,582. The stock has a 50-day moving average of $105.75 and a 200-day moving average of $111.90. Climb Global Solutions has a 12-month low of $61.82 and a 12-month high of $144.99. The company has a market capitalization of $498.47 million, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 1.80 and a beta of 1.01.

Climb Global Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Monday, August 11th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.6%. Climb Global Solutions's dividend payout ratio is 14.11%.

Analyst Ratings Changes

Separately, Barrington Research reaffirmed an "outperform" rating and set a $136.00 target price on shares of Climb Global Solutions in a report on Friday, July 25th.

Hedge Funds Weigh In On Climb Global Solutions

A hedge fund recently bought a new stake in Climb Global Solutions stock. Jane Street Group LLC bought a new stake in Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,848 shares of the company's stock, valued at approximately $426,000. Jane Street Group LLC owned approximately 0.08% of Climb Global Solutions as of its most recent filing with the Securities & Exchange Commission. 49.72% of the stock is currently owned by hedge funds and other institutional investors.

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.