$604.82 Million in Sales Expected for PCM, Inc. (PCMI) This Quarter
Brokerages predict that PCM, Inc. (NASDAQ:PCMI) will post $604.82 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for PCM’s earnings, with the highest sales estimate coming in at $614.64 million and the lowest estimate coming in at $595.00 million. PCM reported sales of $584.94 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.4%. The business is expected to announce its next quarterly earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that PCM will report full-year sales of $604.82 million for the current year, with estimates ranging from $2.30 billion to $2.36 billion. For the next fiscal 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 averages are a mean average based on a survey of sell-side analysts that follow PCM.
PCM (NASDAQ:PCMI) last released its earnings results on Wednesday, July 26th. The specialty retailer reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by $0.02. PCM had a return on equity of 17.32% and a net margin of 0.73%. The business had revenue of $560.11 million for the quarter, compared to analyst estimates of $595.74 million. During the same quarter in the previous year, the firm posted $0.68 EPS. The business’s revenue for the quarter was down 3.6% on a year-over-year basis.
A number of equities research analysts have recently weighed in on the company. BidaskClub raised PCM from a “hold” rating to a “buy” rating in a report on Saturday, July 15th. B. Riley reaffirmed a “buy” rating and set a $33.00 price target on shares of PCM in a report on Tuesday, July 25th. Zacks Investment Research cut PCM from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 29th. Finally, ValuEngine cut PCM from a “buy” rating to a “hold” rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. PCM has an average rating of “Hold” and an average target price of $28.18.
PCM (NASDAQ PCMI) traded down 0.79% during trading on Friday, reaching $12.55. The company’s stock had a trading volume of 122,111 shares. The stock has a market capitalization of $158.05 million, a price-to-earnings ratio of 10.05 and a beta of 0.87. The firm has a 50 day moving average of $13.57 and a 200 day moving average of $20.78. PCM has a 52 week low of $11.80 and a 52 week high of $31.20.
PCM declared that its board has approved a share buyback plan on Wednesday, August 9th that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to buy up to 6.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in shares of PCM during the first quarter valued at approximately $149,000. Brandywine Global Investment Management LLC acquired a new position in shares of PCM during the second quarter valued at approximately $127,000. Parametric Portfolio Associates LLC acquired a new position in shares of PCM during the first quarter valued at approximately $210,000. Trexquant Investment LP acquired a new position in shares of PCM during the first quarter valued at approximately $217,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of PCM by 16,357.7% during the second 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. Institutional investors and hedge funds own 62.58% of the company’s stock.
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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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