Analysts Issue Forecasts for Climb Global Solutions, Inc.’s Q3 2024 Earnings (NASDAQ:CLMB)

Climb Global Solutions, Inc. (NASDAQ:CLMB) – Equities researchers at Barrington Research raised their Q3 2024 earnings estimates for shares of Climb Global Solutions in a research report issued on Monday, May 6th. Barrington Research analyst V. Colicchio now expects that the company will post earnings per share of $0.84 for the quarter, up from their previous estimate of $0.77. Barrington Research currently has a “Outperform” rating and a $68.00 target price on the stock. The consensus estimate for Climb Global Solutions’ current full-year earnings is $2.92 per share. Barrington Research also issued estimates for Climb Global Solutions’ Q4 2024 earnings at $0.96 EPS.

Climb Global Solutions (NASDAQ:CLMB) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.15). Climb Global Solutions had a net margin of 3.26% and a return on equity of 18.93%. The business had revenue of $92.42 million for the quarter, compared to analysts’ expectations of $105.44 million. During the same period last year, the business earned $0.74 earnings per share.

Climb Global Solutions Price Performance

Shares of NASDAQ:CLMB opened at $56.36 on Wednesday. The business has a fifty day moving average price of $67.00 and a 200-day moving average price of $57.46. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.09 and a quick ratio of 1.08. The company has a market capitalization of $258.41 million, a PE ratio of 21.84, a PEG ratio of 2.02 and a beta of 0.98. Climb Global Solutions has a 1-year low of $37.67 and a 1-year high of $73.25.

Climb Global Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 13th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, May 10th. Climb Global Solutions’s payout ratio is currently 26.36%.

Insider Activity at Climb Global Solutions

In other news, CEO Dale Richard Foster sold 3,500 shares of Climb Global Solutions stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $65.49, for a total value of $229,215.00. Following the completion of the sale, the chief executive officer now directly owns 102,092 shares in the company, valued at $6,686,005.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CMO Charles Edward Bass sold 500 shares of Climb Global Solutions stock in a transaction on Monday, March 11th. The shares were sold at an average price of $65.05, for a total transaction of $32,525.00. Following the transaction, the chief marketing officer now owns 37,097 shares in the company, valued at approximately $2,413,159.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dale Richard Foster sold 3,500 shares of Climb Global Solutions stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $65.49, for a total value of $229,215.00. Following the transaction, the chief executive officer now owns 102,092 shares in the company, valued at $6,686,005.08. The disclosure for this sale can be found here. 9.70% of the stock is currently owned by insiders.

Institutional Trading of Climb Global Solutions

Institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. raised its stake in Climb Global Solutions by 14.1% during the 1st quarter. Russell Investments Group Ltd. now owns 9,343 shares of the company’s stock valued at $662,000 after purchasing an additional 1,155 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Climb Global Solutions by 7.5% during the first quarter. Janney Montgomery Scott LLC now owns 18,882 shares of the company’s stock valued at $1,338,000 after buying an additional 1,323 shares during the last quarter. Albert D Mason Inc. boosted its position in shares of Climb Global Solutions by 0.5% during the first quarter. Albert D Mason Inc. now owns 44,303 shares of the company’s stock worth $3,140,000 after acquiring an additional 233 shares during the last quarter. Wasatch Advisors LP grew its stake in Climb Global Solutions by 41.8% during the first quarter. Wasatch Advisors LP now owns 146,298 shares of the company’s stock valued at $10,370,000 after acquiring an additional 43,095 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Climb Global Solutions by 94.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 505 shares of the company’s stock valued at $28,000 after acquiring an additional 245 shares during the last quarter. 49.72% of the stock is currently owned by institutional investors.

Climb Global Solutions Company Profile

Climb Global Solutions Inc operates as a value-added information technology (IT) distribution and solutions company in the United States, Canada, Europe, the United Kingdom, and internationally. It operates in two segments, Distribution and Solutions. The company distributes technical software to corporate and value-added resellers, consultants, and systems integrators under the name Climb Channel Solutions; and provides cloud solutions and resells software, hardware, and services under the name Grey Matter.