$640.19 Million in Sales Expected for PC Connection, Inc. (CNXN) This Quarter

Brokerages expect that PC Connection, Inc. (NASDAQ:CNXN) will announce $640.19 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for PC Connection’s earnings. The lowest sales estimate is $630.57 million and the highest is $649.80 million. PC Connection posted sales of $624.90 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.4%. The business is scheduled to report its next earnings results on Thursday, May 2nd.

On average, analysts expect that PC Connection will report full year sales of $2.79 billion for the current fiscal year, with estimates ranging from $2.76 billion to $2.82 billion. For the next financial year, analysts forecast that the firm will report sales of $2.96 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow PC Connection.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings results on Thursday, February 7th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.14. PC Connection had a return on equity of 12.41% and a net margin of 2.39%. The company had revenue of $709.50 million for the quarter, compared to analysts’ expectations of $693.49 million. During the same period in the prior year, the firm earned $0.77 earnings per share. The firm’s revenue was down 6.9% compared to the same quarter last year.

A number of research analysts have commented on CNXN shares. Sidoti cut PC Connection from a “buy” rating to a “neutral” rating and set a $40.00 price target on the stock. in a research note on Friday, February 15th. Zacks Investment Research upgraded PC Connection from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Friday, February 8th. Finally, BidaskClub cut PC Connection from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 20th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. PC Connection has an average rating of “Buy” and an average target price of $39.33.

In other news, Director Joseph A. Baute sold 1,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $37.65, for a total value of $37,650.00. Following the sale, the director now directly owns 30,100 shares in the company, valued at $1,133,265. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jack L. Ferguson sold 3,000 shares of the stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $41.65, for a total value of $124,950.00. Following the completion of the sale, the director now owns 87,680 shares in the company, valued at $3,651,872. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,200 shares of company stock worth $764,898. Insiders own 57.10% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quantamental Technologies LLC acquired a new stake in PC Connection in the fourth quarter valued at $39,000. Great West Life Assurance Co. Can acquired a new stake in PC Connection in the fourth quarter valued at $58,000. Legal & General Group Plc raised its stake in PC Connection by 23.6% in the fourth quarter. Legal & General Group Plc now owns 2,255 shares of the company’s stock valued at $67,000 after buying an additional 431 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in PC Connection by 11.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,075 shares of the company’s stock valued at $91,000 after buying an additional 318 shares in the last quarter. Finally, Citigroup Inc. raised its stake in PC Connection by 17.6% in the fourth quarter. Citigroup Inc. now owns 3,702 shares of the company’s stock valued at $110,000 after buying an additional 554 shares in the last quarter. Institutional investors and hedge funds own 41.50% of the company’s stock.

NASDAQ:CNXN traded up $0.73 during trading hours on Monday, reaching $36.67. 183,122 shares of the stock were exchanged, compared to its average volume of 83,204. PC Connection has a twelve month low of $24.68 and a twelve month high of $43.05. The stock has a market capitalization of $948.66 million, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10.

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.

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