$692.04 Million in Sales Expected for Connection Inc. (CNXN) This Quarter

Equities research analysts expect Connection Inc. (NASDAQ:CNXN) to announce $692.04 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Connection’s earnings, with the highest sales estimate coming in at $694.30 million and the lowest estimate coming in at $689.78 million. Connection reported sales of $670.59 million during the same quarter last year, which indicates a positive year-over-year growth rate of 3.2%. The company is scheduled to announce its next earnings results on Thursday, April 19th.

According to Zacks, analysts expect that Connection will report full year sales of $692.04 million for the current financial year, with estimates ranging from $3.02 billion to $3.04 billion. For the next fiscal year, analysts anticipate that the business will report sales of $3.13 billion per share. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Connection.

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Connection (NASDAQ:CNXN) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. The business had revenue of $762.27 million during the quarter, compared to analyst estimates of $757.40 million. Connection had a net margin of 1.88% and a return on equity of 10.65%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 EPS.

A number of equities analysts have recently issued reports on the stock. BidaskClub lowered shares of Connection from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Zacks Investment Research upgraded Connection from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 27th. Finally, ValuEngine lowered Connection from a “buy” rating to a “hold” rating in a report on Sunday, December 31st.

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in shares of Connection by 141.7% in the third quarter. JPMorgan Chase & Co. now owns 10,501 shares of the company’s stock valued at $291,000 after purchasing an additional 6,157 shares during the period. Municipal Employees Retirement System of Michigan bought a new position in shares of Connection during the 4th quarter worth approximately $1,574,000. Aperio Group LLC lifted its position in shares of Connection by 29.6% during the 4th quarter. Aperio Group LLC now owns 12,725 shares of the company’s stock worth $334,000 after buying an additional 2,909 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of Connection by 20.6% during the 3rd quarter. GSA Capital Partners LLP now owns 25,914 shares of the company’s stock worth $731,000 after buying an additional 4,418 shares in the last quarter. Finally, California Public Employees Retirement System bought a new position in shares of Connection during the 3rd quarter worth approximately $275,000. 41.18% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:CNXN traded up $0.62 during mid-day trading on Friday, hitting $26.64. The stock had a trading volume of 25,905 shares, compared to its average volume of 45,359. The stock has a market cap of $703.81, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 1.44 and a beta of 1.42. Connection has a twelve month low of $22.66 and a twelve month high of $29.83.

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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.

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