PC Connection, Inc. (NASDAQ:CNXN) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.48-0.50 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.56. The company issued revenue guidance of $725-730 million, compared to the consensus revenue estimate of $760.23 million.
Shares of PC Connection, Inc. (NASDAQ:CNXN) opened at 29.23 on Wednesday. The company has a 50 day moving average of $26.83 and a 200-day moving average of $26.95. The firm has a market cap of $782.90 million, a PE ratio of 16.52 and a beta of 1.68. PC Connection, Inc. has a 12-month low of $22.31 and a 12-month high of $30.48.
PC Connection (NASDAQ:CNXN) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.03. PC Connection had a net margin of 1.66% and a return on equity of 11.39%. The firm had revenue of $749.79 million for the quarter, compared to the consensus estimate of $733.18 million. During the same quarter in the previous year, the company earned $0.49 earnings per share. The business’s revenue was up 10.9% compared to the same quarter last year. Equities research analysts forecast that PC Connection, Inc. will post $1.95 EPS for the current fiscal year.
A number of research analysts have issued reports on CNXN shares. Roth Capital set a $33.00 price objective on PC Connection and gave the company a buy rating in a report on Friday, July 28th. Zacks Investment Research raised PC Connection from a hold rating to a buy rating and set a $29.00 price objective for the company in a report on Monday, July 31st. Finally, ValuEngine cut PC Connection from a buy rating to a hold rating in a report on Friday, September 1st.
In related news, Director Negrini David Beffa sold 20,000 shares of PC Connection stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $26.00, for a total value of $520,000.00. Following the completion of the transaction, the director now directly owns 129,800 shares of the company’s stock, valued at $3,374,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy J. Mcgrath sold 26,122 shares of PC Connection stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $25.82, for a total value of $674,470.04. Following the completion of the transaction, the chief executive officer now directly owns 224,907 shares of the company’s stock, valued at $5,807,098.74. The disclosure for this sale can be found here. 57.30% of the stock is currently owned by company insiders.
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PC Connection Company Profile
PC Connection, Inc is a provider of a range of information technology (IT) solutions. The Company conducts its business operations through three business segments: small- to medium-sized businesses (SMB), Large Account and Public Sector. The Company enables customers to design, enable, manage and service their IT environments.
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