$0.57 EPS Expected for PCM, Inc. (PCMI) This Quarter
Wall Street brokerages expect PCM, Inc. (NASDAQ:PCMI) to post earnings of $0.57 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for PCM’s earnings. PCM posted earnings per share of $0.52 in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.6%. The company is expected to report its next earnings results on Wednesday, October 25th.
On average, analysts expect that PCM will report full-year earnings of $2.00 per share for the current fiscal year. For the next year, analysts forecast that the business will post earnings of $2.30 per share. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow PCM.
PCM (NASDAQ:PCMI) last released its quarterly earnings results on Wednesday, July 26th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by $0.02. The firm had revenue of $560.11 million for the quarter, compared to analyst estimates of $595.74 million. PCM had a return on equity of 17.32% and a net margin of 0.73%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the firm earned $0.68 EPS.
Several brokerages have recently weighed in on PCMI. B. Riley restated a “buy” rating and issued a $33.00 price objective on shares of PCM in a report on Tuesday, July 25th. ValuEngine lowered PCM from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research lowered PCM from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 29th. Finally, BidaskClub upgraded PCM from a “hold” rating to a “buy” rating in a report on Saturday, July 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $28.18.
PCM (PCMI) opened at 12.65 on Friday. The stock’s 50 day moving average price is $13.76 and its 200 day moving average price is $20.84. The firm has a market cap of $159.31 million, a P/E ratio of 10.13 and a beta of 0.87. PCM has a 1-year low of $11.80 and a 1-year high of $31.20.
PCM announced that its Board of Directors has approved a stock repurchase plan on Wednesday, August 9th that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the specialty retailer to repurchase up to 6.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hennessy Advisors Inc. lifted its holdings in shares of PCM by 0.3% during the second quarter. Hennessy Advisors Inc. now owns 144,902 shares of the specialty retailer’s stock valued at $2,717,000 after purchasing an additional 502 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of PCM by 0.8% during the second quarter. Nordea Investment Management AB now owns 98,774 shares of the specialty retailer’s stock valued at $1,852,000 after purchasing an additional 800 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of PCM by 2.3% during the first quarter. Geode Capital Management LLC now owns 48,881 shares of the specialty retailer’s stock valued at $1,370,000 after purchasing an additional 1,093 shares during the last quarter. Navellier & Associates Inc lifted its holdings in shares of PCM by 9.5% during the second quarter. Navellier & Associates Inc now owns 18,204 shares of the specialty retailer’s stock valued at $341,000 after purchasing an additional 1,573 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of PCM by 13.2% during the first quarter. Bank of New York Mellon Corp now owns 21,492 shares of the specialty retailer’s stock valued at $603,000 after purchasing an additional 2,509 shares during the last quarter. 62.58% of the stock is owned by institutional investors and hedge funds.
PCM Company Profile
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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