PC Connection, Inc. Declares Quarterly Dividend of $0.10 (NASDAQ:CNXN)

PC Connection, Inc. (NASDAQ:CNXN) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Investors of record on Tuesday, May 14th will be given a dividend of 0.10 per share on Wednesday, May 29th. This represents a $0.40 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Monday, May 13th.

PC Connection has a payout ratio of 10.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect PC Connection to earn $3.84 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 10.4%.

PC Connection Stock Performance

CNXN traded up $1.88 during trading hours on Friday, reaching $61.17. The company’s stock had a trading volume of 80,039 shares, compared to its average volume of 70,016. PC Connection has a 52 week low of $38.13 and a 52 week high of $70.55. The company’s 50-day moving average is $64.54 and its 200-day moving average is $63.44. The firm has a market cap of $1.61 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 1.78 and a beta of 0.67.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). PC Connection had a net margin of 2.98% and a return on equity of 10.21%. The business had revenue of $632.03 million during the quarter, compared to the consensus estimate of $694.19 million. During the same quarter last year, the company posted $0.56 EPS. Equities analysts anticipate that PC Connection will post 3.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

PC Connection Company Profile

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.