PC Connection Inc reports results for the quarter ended in March - Earnings Summary

PC Connection

01/05/2024 22:02

* PC Connection Inc  CNXN.OQ  reported quarterly adjusted
earnings
of 50 cents​​ per share for the quarter ended in March, lower
than the same quarter last year, when the company reported EPS
of 54 cents.  The mean expectation of two analysts for the
quarter was for earnings of 64 cents per share. Wall Street
expected results to range from 55 cents to 72 cents per share.
    * Revenue fell 13.1% to $632.03 million from a year ago;
analysts
expected $694.19 million. 
    * PC Connection Inc's reported EPS for the quarter was 50
cents​.
    * The company reported quarterly net income of $13.15
million.
    * PC Connection Inc shares had fallen by 6.0% this
quarter and
lost 7.8% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 9.3%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the integrated
hardware
& software peer group is also "hold"

Wall Street's median 12-month price target for PC Connection Inc
is $70.00 
This summary was machine generated from LSEG data May 1 at 09:01
p.m. UTC. ​All figures in US dollars unless otherwise stated.
(For questions concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.64           0.50           Missed
 Dec. 31 2023      0.88           0.90           Beat
 Sep. 30 2023      0.81           0.97           Beat
 Jun. 30 2023      0.69           0.75           Beat