PC Connection, Inc. (NASDAQ:CNXN) to Issue Quarterly Dividend of $0.15

PC Connection, Inc. (NASDAQ:CNXN) declared a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Shareholders of record on Tuesday, February 25th will be paid a dividend of 0.15 per share on Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Tuesday, February 25th. This is an increase from PC Connection’s previous quarterly dividend of $0.10.

PC Connection has a payout ratio of 9.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect PC Connection to earn $3.59 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 11.1%.

PC Connection Trading Down 10.8 %

NASDAQ CNXN traded down $7.75 on Thursday, reaching $63.98. The stock had a trading volume of 218,672 shares, compared to its average volume of 75,296. The business has a 50 day moving average price of $71.67 and a 200 day moving average price of $71.43. PC Connection has a 1 year low of $57.47 and a 1 year high of $77.19. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 18.76, a P/E/G ratio of 2.07 and a beta of 0.67.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). PC Connection had a return on equity of 10.30% and a net margin of 3.23%. During the same period last year, the firm posted $0.90 earnings per share. On average, analysts anticipate that PC Connection will post 3.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PC Connection news, Director Negrini David Beffa sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the completion of the transaction, the director now owns 71,750 shares of the company’s stock, valued at $5,022,500. This represents a 6.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 56.90% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, StockNews.com raised PC Connection from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th.

About PC Connection

PC Connection, Inc, together with its subsidiaries, provides a range of information technology (IT) solutions. The company operates through three segments: Business Solutions, Enterprise Solutions, and Public Sector Solutions. It offers IT products, such as computer systems, software and peripheral equipment, networking communications, and other products and accessories.