PC Connection, Inc. (NASDAQ:CNXN) to Issue $0.10 Quarterly Dividend

PC Connection, Inc. (NASDAQ:CNXN) declared a quarterly dividend on Wednesday, July 31st, Zacks reports. Shareholders of record on Tuesday, August 13th will be given a dividend of 0.10 per share on Friday, August 30th. This represents a $0.40 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Tuesday, August 13th.

PC Connection has a dividend payout ratio of 10.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect PC Connection to earn $3.82 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 10.5%.

PC Connection Stock Down 2.9 %

PC Connection stock traded down $2.18 during mid-day trading on Friday, hitting $72.89. 1,792 shares of the stock were exchanged, compared to its average volume of 75,319. PC Connection has a 12 month low of $48.29 and a 12 month high of $76.39. The firm’s fifty day simple moving average is $65.76 and its two-hundred day simple moving average is $65.45. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 2.14 and a beta of 0.61.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings results on Wednesday, May 1st. 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 10.63% and a net margin of 3.22%. The firm had revenue of $632.03 million for the quarter, compared to the consensus estimate of $694.19 million. During the same quarter in the previous year, the business posted $0.56 EPS. As a group, analysts forecast that PC Connection will post 3.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of PC Connection from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th.

Insider Transactions at PC Connection

In other news, Director Barbara Duckett sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $68.08, for a total transaction of $68,080.00. Following the completion of the sale, the director now owns 13,877 shares of the company’s stock, valued at approximately $944,746.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 56.90% of the company’s stock.

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.