PCM, Inc. (NASDAQ:PCMI) Expected to Announce Quarterly Sales of $604.82 Million
Equities analysts expect that PCM, Inc. (NASDAQ:PCMI) will post $604.82 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for PCM’s earnings. The highest sales estimate is $614.64 million and the lowest is $595.00 million. PCM posted sales of $584.94 million in the same quarter last year, which would indicate a positive year over year growth rate of 3.4%. The company is expected to issue its next quarterly earnings results on Wednesday, October 25th.
On average, analysts expect that PCM will report full-year sales of $604.82 million for the current financial year, with estimates ranging from $2.30 billion to $2.36 billion. For the next year, analysts expect that the business will post sales of $2.41 billion per share, with estimates ranging from $2.38 billion to $2.45 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for PCM.
PCM (NASDAQ:PCMI) last released its earnings results on Wednesday, July 26th. The specialty retailer reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.46 by $0.02. PCM had a return on equity of 17.70% and a net margin of 0.73%. The business had revenue of $560.11 million for the quarter, compared to the consensus estimate of $595.74 million. During the same quarter last year, the business posted $0.68 earnings per share. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year.
A number of equities analysts have recently weighed in on the company. B. Riley reiterated a “buy” rating and set a $32.00 price target on shares of PCM in a report on Wednesday, April 26th. ValuEngine cut PCM from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Zacks Investment Research cut PCM from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 29th. Roth Capital set a $34.00 price target on PCM and gave the stock a “buy” rating in a report on Friday, April 28th. Finally, BidaskClub upgraded PCM from a “hold” rating to a “buy” rating in a report on Saturday, July 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $28.18.
PCM (NASDAQ:PCMI) traded down 2.03% during mid-day trading on Friday, hitting $12.05. The stock had a trading volume of 268,289 shares. The firm’s 50-day moving average price is $18.46 and its 200 day moving average price is $22.94. The company has a market cap of $151.76 million, a PE ratio of 9.65 and a beta of 0.87. PCM has a one year low of $11.88 and a one year high of $31.20.
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Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in PCM during the first quarter worth $149,000. Parametric Portfolio Associates LLC purchased a new position in shares of PCM during the first quarter worth approximately $210,000. Trexquant Investment LP purchased a new position in shares of PCM during the first quarter worth approximately $217,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of PCM during the first quarter worth approximately $309,000. Finally, Bank of Montreal Can boosted its position in shares of PCM by 67.5% in the second quarter. Bank of Montreal Can now owns 11,076 shares of the specialty retailer’s stock worth $208,000 after buying an additional 4,464 shares during the period. Institutional investors and hedge funds own 59.30% of the company’s stock.
PCM, Inc is a multi-vendor provider of technology solutions, including hardware products, software and services, offered through its dedicated sales force, field and internal service teams, direct marketing channels, and owned and operated data centers. The Company’s segments include Commercial, Public Sector and Canada.
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