Climb Global Solutions, Inc. (NASDAQ:CLMB) Plans Quarterly Dividend of $0.17

Climb Global Solutions, Inc. (NASDAQ:CLMB) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Stockholders of record on Monday, November 11th will be paid a dividend of 0.17 per share on Friday, November 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Friday, November 8th.

Climb Global Solutions has a dividend payout ratio of 18.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Climb Global Solutions to earn $3.59 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 18.9%.

Climb Global Solutions Stock Up 11.8 %

Shares of NASDAQ CLMB opened at $122.42 on Thursday. The stock has a market cap of $564.36 million, a price-to-earnings ratio of 33.18, a P/E/G ratio of 2.99 and a beta of 1.06. Climb Global Solutions has a twelve month low of $40.63 and a twelve month high of $122.65. The company’s fifty day moving average is $99.43 and its 200-day moving average is $76.96.

Climb Global Solutions (NASDAQ:CLMB) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.48 by $0.35. The business had revenue of $92.08 million for the quarter, compared to analysts’ expectations of $97.27 million. Climb Global Solutions had a net margin of 4.11% and a return on equity of 23.63%. On average, research analysts anticipate that Climb Global Solutions will post 3.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Barrington Research reiterated an “outperform” rating and issued a $90.00 price target on shares of Climb Global Solutions in a research note on Thursday, October 10th.

About Climb Global Solutions

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.