PC Connection, Inc. (NASDAQ:CNXN) Expected to Announce Quarterly Sales of $689.02 Million

Equities research analysts forecast that PC Connection, Inc. (NASDAQ:CNXN) will announce $689.02 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for PC Connection’s earnings, with the highest sales estimate coming in at $696.24 million and the lowest estimate coming in at $681.79 million. PC Connection posted sales of $658.50 million in the same quarter last year, which suggests a positive year-over-year growth rate of 4.6%. The business is expected to announce its next quarterly earnings results on Thursday, November 7th.

According to Zacks, analysts expect that PC Connection will report full year sales of $2.81 billion for the current financial year, with estimates ranging from $2.80 billion to $2.82 billion. For the next financial year, analysts expect that the firm will report sales of $2.92 billion, with estimates ranging from $2.89 billion to $2.94 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for PC Connection.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.70 by $0.19. PC Connection had a return on equity of 13.23% and a net margin of 2.61%. The business had revenue of $741.10 million during the quarter, compared to analyst estimates of $719.44 million. During the same period last year, the business posted $0.68 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis.

Several research analysts have recently commented on CNXN shares. Zacks Investment Research upgraded PC Connection from a “hold” rating to a “strong-buy” rating and set a $46.00 price target for the company in a research report on Monday, August 5th. BidaskClub cut PC Connection from a “hold” rating to a “sell” rating in a research note on Friday. ValuEngine cut PC Connection from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Sidoti upgraded PC Connection from a “neutral” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Friday, August 2nd.

Several hedge funds and other institutional investors have recently made changes to their positions in CNXN. Wells Fargo & Company MN raised its stake in shares of PC Connection by 61.9% in the second quarter. Wells Fargo & Company MN now owns 273,322 shares of the company’s stock valued at $9,561,000 after acquiring an additional 104,482 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of PC Connection by 72.0% in the second quarter. AQR Capital Management LLC now owns 243,496 shares of the company’s stock valued at $8,517,000 after acquiring an additional 101,914 shares in the last quarter. BlackRock Inc. raised its stake in shares of PC Connection by 7.2% in the second quarter. BlackRock Inc. now owns 1,059,321 shares of the company’s stock valued at $37,056,000 after acquiring an additional 71,194 shares in the last quarter. American Century Companies Inc. acquired a new stake in shares of PC Connection in the fourth quarter valued at $1,945,000. Finally, Seizert Capital Partners LLC acquired a new stake in shares of PC Connection in the first quarter valued at $1,895,000. Institutional investors and hedge funds own 41.80% of the company’s stock.

Shares of CNXN traded up $0.60 during midday trading on Friday, hitting $35.10. 68,800 shares of the stock were exchanged, compared to its average volume of 61,757. PC Connection has a 52-week low of $27.04 and a 52-week high of $43.05. The stock has a fifty day simple moving average of $34.94 and a 200 day simple moving average of $35.97. The firm has a market cap of $967.72 million, a P/E ratio of 14.81, a P/E/G ratio of 1.68 and a beta of 1.16. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.80 and a current ratio of 2.35.

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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