Climb Global Solutions (NASDAQ:CLMB) Announces Quarterly Earnings Results, Beats Expectations 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 quarterly earnings data on Wednesday. The company reported $1.39 earnings per share (EPS) for the quarter, topping 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 30.27%. The firm had revenue of $159.28 million for the quarter, compared to the consensus estimate of $113.25 million.

Climb Global Solutions Trading Up 16.2%

Shares of Climb Global Solutions stock opened at $118.00 on Friday. The firm has a market capitalization of $542.80 million, a PE ratio of 24.48, a price-to-earnings-growth ratio of 1.65 and a beta of 0.95. The firm's 50 day moving average is $105.57 and its 200 day moving average is $112.39. Climb Global Solutions has a 1 year low of $59.85 and a 1 year high of $144.99.

Climb Global Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Monday, August 11th will be issued 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 15.93%.

Insider Buying and Selling at Climb Global Solutions

In other Climb Global Solutions news, Director Greg Scorziello sold 5,767 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $100.63, for a total transaction of $580,333.21. Following the completion of the sale, the director owned 1,774 shares of the company's stock, valued at approximately $178,517.62. This represents a 76.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.10% of the company's stock.

Institutional Trading of Climb Global Solutions

A hedge fund recently raised its stake in Climb Global Solutions stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Climb Global Solutions, Inc. (NASDAQ:CLMB - Free Report) by 5.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,522 shares of the company's stock after buying an additional 131 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.05% of Climb Global Solutions worth $279,000 at the end of the most recent reporting period. 49.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

About Climb Global Solutions

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.