Q2 2024 EPS Estimates for PC Connection, Inc. (NASDAQ:CNXN) Reduced by Sidoti Csr

PC Connection, Inc. (NASDAQ:CNXN - Free Report) - Investment analysts at Sidoti Csr decreased their Q2 2024 earnings estimates for shares of PC Connection in a research note issued to investors on Monday, April 22nd. Sidoti Csr analyst A. Lebiedzinski now anticipates that the company will post earnings per share of $0.90 for the quarter, down from their previous forecast of $0.92. The consensus estimate for PC Connection's current full-year earnings is $3.48 per share. Sidoti Csr also issued estimates for PC Connection's Q2 2025 earnings at $1.03 EPS.

PC Connection (NASDAQ:CNXN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.02. The company had revenue of $696.47 million during the quarter, compared to analyst estimates of $673.51 million. PC Connection had a return on equity of 10.55% and a net margin of 2.92%.

Separately, StockNews.com upgraded shares of PC Connection from a "buy" rating to a "strong-buy" rating in a research note on Thursday, April 18th.

PC Connection Price Performance

Shares of CNXN traded down $0.06 during trading hours on Wednesday, hitting $64.98. The company's stock had a trading volume of 50,866 shares, compared to its average volume of 70,838. The business has a 50 day simple moving average of $65.35 and a two-hundred day simple moving average of $63.11. PC Connection has a 52-week low of $38.13 and a 52-week high of $70.55. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 1.79 and a beta of 0.66.

Institutional Trading of PC Connection

Institutional investors and hedge funds have recently bought and sold shares of the company. Arizona State Retirement System bought a new stake in PC Connection during the fourth quarter valued at $222,000. Maryland State Retirement & Pension System purchased a new position in shares of PC Connection during the third quarter worth about $222,000. Jump Financial LLC purchased a new position in shares of PC Connection during the third quarter worth about $272,000. Truist Financial Corp bought a new position in shares of PC Connection in the fourth quarter worth approximately $352,000. Finally, Louisiana State Employees Retirement System purchased a new stake in PC Connection in the fourth quarter valued at approximately $383,000. 42.85% of the stock is currently owned by hedge funds and other institutional investors.

PC Connection Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.62%. This is an increase from PC Connection's previous quarterly dividend of $0.08. The ex-dividend date was Monday, February 26th. PC Connection's dividend payout ratio is presently 12.66%.

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.