Climb Global Solutions (NASDAQ:CLMB) Issues Earnings Results

Climb Global Solutions (NASDAQ:CLMB) released its earnings results on Wednesday. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.15), Zacks reports. The company had revenue of $92.42 million during the quarter, compared to analysts’ expectations of $105.44 million. Climb Global Solutions had a net margin of 3.26% and a return on equity of 19.38%. During the same quarter in the previous year, the firm earned $0.74 earnings per share.

Climb Global Solutions Stock Performance

NASDAQ CLMB opened at $58.84 on Friday. The company’s 50 day moving average is $67.13 and its 200-day moving average is $57.10. Climb Global Solutions has a 12-month low of $37.67 and a 12-month high of $73.25. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.01. The firm has a market cap of $270.66 million, a P/E ratio of 22.81, a price-to-earnings-growth ratio of 2.02 and a beta of 0.98.

Climb Global Solutions Dividend Announcement

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 given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Friday, May 10th. Climb Global Solutions’s dividend payout ratio (DPR) is currently 26.36%.

Insider Activity

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

Wall Street Analyst Weigh In

Separately, Barrington Research reiterated an “outperform” rating and issued a $76.00 target price on shares of Climb Global Solutions in a research note on Tuesday.

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.