PC Connection, Inc. (NASDAQ:CNXN – Get Free Report) gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $61.96, but opened at $59.48. PC Connection shares last traded at $58.31, with a volume of 9,686 shares changing hands.
The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). PC Connection had a return on equity of 10.55% and a net margin of 2.92%. The firm had revenue of $632.03 million for the quarter, compared to analyst estimates of $694.19 million. During the same quarter in the prior year, the business posted $0.56 EPS.
PC Connection Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were given a dividend of $0.10 per share. This is an increase from PC Connection’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Monday, February 26th. PC Connection’s dividend payout ratio is currently 12.66%.
Wall Street Analyst Weigh In
Read Our Latest Research Report on CNXN
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of CNXN. Maryland State Retirement & Pension System bought a new stake in shares of PC Connection in the third quarter worth $222,000. Arizona State Retirement System acquired a new stake in shares of PC Connection during the fourth quarter worth $222,000. Jump Financial LLC bought a new position in PC Connection during the third quarter worth $272,000. Illinois Municipal Retirement Fund acquired a new position in PC Connection in the third quarter valued at $332,000. Finally, Truist Financial Corp acquired a new position in PC Connection in the fourth quarter valued at $352,000. 42.85% of the stock is currently owned by institutional investors and hedge funds.
PC Connection Stock Down 5.6 %
The stock’s 50-day simple moving average is $64.87 and its 200 day simple moving average is $63.41. The firm has a market cap of $1.54 billion, a P/E ratio of 19.61, a PEG ratio of 1.78 and a beta of 0.67.
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.
Featured Articles
- Five stocks we like better than PC Connection
- Consumer Discretionary Stocks Explained
- Meta Stock: 3 Reasons This Stumble Is a Golden Buying Opportunity
- What Are the U.K. Market Holidays? How to Invest and Trade
- 3 Staples Stocks to Cushion Lower Consumer Sentiment
- 5 Top Rated Dividend Stocks to Consider
- Zillow’s Earnings Dip: An Opportunity for Visionaries
Receive News & Ratings for PC Connection Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PC Connection and related companies with MarketBeat.com's FREE daily email newsletter.