PCM (PCMI) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS
PCM (NASDAQ:PCMI) released its quarterly earnings data on Wednesday. The specialty retailer reported $0.34 EPS for the quarter, beating the consensus estimate of $0.29 by $0.05, Bloomberg Earnings reports. The company had revenue of $542.83 million during the quarter, compared to the consensus estimate of $539.35 million. PCM had a return on equity of 11.33% and a net margin of 0.14%.
Shares of NASDAQ PCMI traded up $1.75 during trading hours on Thursday, hitting $12.30. The company had a trading volume of 542,133 shares, compared to its average volume of 181,150. The company has a market cap of $122.64, a PE ratio of 11.39, a PEG ratio of 0.19 and a beta of 0.57. The company has a current ratio of 0.99, a quick ratio of 0.80 and a debt-to-equity ratio of 0.26. PCM has a 1-year low of $6.90 and a 1-year high of $30.75.
Several research firms have recently commented on PCMI. Zacks Investment Research raised PCM from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 10th. ValuEngine downgraded PCM from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. TheStreet downgraded PCM from a “c” rating to a “d+” rating in a report on Thursday, March 8th. Roth Capital set a $15.00 price objective on PCM and gave the company a “buy” rating in a report on Thursday, March 8th. Finally, B. Riley set a $9.00 price objective on PCM and gave the company a “buy” rating in a report on Tuesday, March 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. PCM currently has an average rating of “Hold” and an average target price of $12.00.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System bought a new stake in PCM in the 2nd quarter valued at $334,000. The Manufacturers Life Insurance Company raised its stake in PCM by 16,357.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,558 shares of the specialty retailer’s stock valued at $160,000 after acquiring an additional 8,506 shares during the period. Finally, State Street Corp bought a new stake in PCM in the 2nd quarter valued at $2,176,000. Institutional investors and hedge funds own 53.21% of the company’s stock.
PCM, Inc, through its subsidiaries, operates as a multi-vendor provider of technology products and solutions in the United States and the rest of Europe. The company operates through four segments: Commercial, Public Sector, Canada, and United Kingdom. It primarily sells device products, servers, storage products, network products, printers, and related accessories and devices.
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