PC Connection, Inc. (CNXN) Issues Q3 Earnings Guidance

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.

ILLEGAL ACTIVITY WARNING: This news story was first reported by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this news story on another site, it was illegally stolen and reposted in violation of US and international trademark & copyright law. The correct version of this news story can be accessed at https://sportsperspectives.com/2017/10/18/pc-connection-inc-cnxn-issues-q3-earnings-guidance.html.

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.

Receive News & Ratings for PC Connection Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PC Connection Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply