Brokerages expect PC Connection, Inc. (NASDAQ:CNXN) to report sales of $757.89 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for PC Connection’s earnings, with estimates ranging from $751.37 million to $764.40 million. PC Connection posted sales of $708.49 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7%. The business is expected to issue its next earnings results on Thursday, October 26th.

According to Zacks, analysts expect that PC Connection will report full year sales of $757.89 million for the current year, with estimates ranging from $2.93 billion to $2.95 billion. For the next financial year, analysts expect that the company will post sales of $3.06 billion per share, with estimates ranging from $3.03 billion to $3.09 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover PC Connection.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.03. The firm had revenue of $749.79 million during the quarter, compared to analysts’ expectations of $733.18 million. PC Connection had a return on equity of 11.39% and a net margin of 1.66%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.49 EPS.

A number of analysts have recently commented on the company. ValuEngine lowered PC Connection from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research downgraded PC Connection from a “buy” rating to a “hold” rating in a research report on Wednesday, September 27th. Finally, Roth Capital set a $33.00 price objective on PC Connection and gave the stock a “buy” rating in a research report on Friday, July 28th.

Shares of PC Connection (NASDAQ CNXN) opened at 28.54 on Thursday. The firm’s 50-day moving average price is $26.53 and its 200 day moving average price is $26.95. The company has a market capitalization of $764.42 million, a PE ratio of 16.13 and a beta of 1.68. PC Connection has a one year low of $22.31 and a one year high of $30.48.

In other news, Director Negrini David Beffa sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $26.00, for a total transaction of $520,000.00. Following the completion of the transaction, the director now directly owns 129,800 shares in the company, valued at $3,374,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy J. Mcgrath sold 26,122 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $25.82, for a total value of $674,470.04. Following the transaction, the chief executive officer now owns 224,907 shares of the company’s stock, valued at $5,807,098.74. The disclosure for this sale can be found here. 57.30% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp bought a new position in shares of PC Connection during the first quarter worth about $2,374,000. Russell Investments Group Ltd. bought a new position in shares of PC Connection during the first quarter worth about $1,811,000. Morgan Stanley bought a new position in shares of PC Connection during the first quarter worth about $1,870,000. Swiss National Bank bought a new position in shares of PC Connection during the first quarter worth about $593,000. Finally, Kennedy Capital Management Inc. bought a new position in shares of PC Connection during the second quarter worth about $1,922,000. Institutional investors own 41.38% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This news story was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another domain, it was copied illegally and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/10/12/zacks-analysts-anticipate-pc-connection-inc-cnxn-will-post-quarterly-sales-of-757-89-million.html.

PC Connection Company Profile

PC Connection, Inc is a provider of a range of information technology (IT) solutions. The Company conducts its business operations through three business segments: small- to medium-sized businesses (SMB), Large Account and Public Sector. The Company enables customers to design, enable, manage and service their IT environments.

Get a free copy of the Zacks research report on PC Connection (CNXN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for PC Connection Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PC Connection Inc. and related companies with MarketBeat.com's FREE daily email newsletter.