PCM, Inc. (PCMI) Expected to Post Earnings of $0.57 Per Share
Wall Street brokerages expect that PCM, Inc. (NASDAQ:PCMI) will post $0.57 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for PCM’s earnings, with the lowest EPS estimate coming in at $0.56 and the highest estimate coming in at $0.57. PCM posted earnings of $0.52 per share in the same quarter last year, which would suggest a positive year over year growth rate of 9.6%. The business is scheduled to issue its next quarterly earnings report after the market closes on Monday, November 6th.
According to Zacks, analysts expect that PCM will report full year earnings of $2.00 per share for the current fiscal year. For the next financial year, analysts forecast that the business will report earnings of $2.27 per share, with EPS estimates ranging from $2.23 to $2.30. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover PCM.
Several equities analysts recently issued reports on the company. BidaskClub upgraded PCM from a “hold” rating to a “buy” rating in a research note on Saturday, July 15th. B. Riley restated a “buy” rating and set a $33.00 price objective on shares of PCM in a research note on Sunday, July 30th. Finally, ValuEngine cut PCM from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $28.23.
PCM (NASDAQ:PCMI) opened at $13.85 on Friday. The company has a market cap of $178.84 million, a P/E ratio of 8.02, a P/E/G ratio of 0.25 and a beta of 0.94. The company has a quick ratio of 0.86, a current ratio of 1.01 and a debt-to-equity ratio of 0.18.
PCM declared that its Board of Directors has initiated a stock buyback program on Wednesday, August 9th that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the specialty retailer to purchase up to 6.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in PCM by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,051,553 shares of the specialty retailer’s stock worth $19,717,000 after buying an additional 51,247 shares during the period. Numeric Investors LLC increased its position in PCM by 8.8% in the second quarter. Numeric Investors LLC now owns 699,998 shares of the specialty retailer’s stock worth $13,125,000 after buying an additional 56,553 shares during the period. Paradigm Capital Management Inc. NY increased its position in PCM by 370.9% in the second quarter. Paradigm Capital Management Inc. NY now owns 687,500 shares of the specialty retailer’s stock worth $12,890,000 after buying an additional 541,500 shares during the period. Renaissance Technologies LLC increased its position in PCM by 29.0% in the first quarter. Renaissance Technologies LLC now owns 487,600 shares of the specialty retailer’s stock worth $13,677,000 after buying an additional 109,600 shares during the period. Finally, Vanguard Group Inc. increased its position in PCM by 17.8% in the second quarter. Vanguard Group Inc. now owns 329,136 shares of the specialty retailer’s stock worth $6,172,000 after buying an additional 49,694 shares during the period. Hedge funds and other institutional investors own 60.08% of the company’s stock.
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, Canada and United Kingdom.
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