Climb Global Solutions, Inc. (CLMB) To Go Ex-Dividend on May 10th

Climb Global Solutions, Inc. (NASDAQ:CLMB) declared a quarterly dividend on Monday, April 29th, NASDAQ reports. Shareholders of record on Monday, May 13th will be given a dividend of 0.17 per share on Friday, May 17th. This represents a $0.68 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, May 10th.

Climb Global Solutions has a payout ratio of 20.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Climb Global Solutions to earn $3.35 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 20.3%.

Climb Global Solutions Trading Down 2.6 %

Shares of NASDAQ CLMB traded down $1.50 during midday trading on Wednesday, reaching $56.88. 12,563 shares of the stock were exchanged, compared to its average volume of 10,396. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.09 and a quick ratio of 1.08. Climb Global Solutions has a 12 month low of $37.67 and a 12 month high of $73.25. The business has a 50-day simple moving average of $67.04 and a two-hundred day simple moving average of $57.47. The company has a market capitalization of $260.79 million, a price-to-earnings ratio of 22.05, a P/E/G ratio of 2.02 and a beta of 0.98.

Climb Global Solutions (NASDAQ:CLMB) last released its earnings results on Wednesday, May 1st. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $92.42 million during the quarter, compared to the consensus estimate of $105.44 million. During the same period in the prior year, the business posted $0.74 earnings per share. As a group, equities research analysts expect that Climb Global Solutions will post 2.92 EPS for the current year.

Insider Activity at Climb Global Solutions

In other Climb Global Solutions news, CEO Dale Richard Foster sold 3,500 shares of the firm’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 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 link. In related news, CEO Dale Richard Foster sold 3,500 shares of the firm’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 completion of the transaction, the chief executive officer now owns 102,092 shares in the company, valued at approximately $6,686,005.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CMO Charles Edward Bass sold 500 shares of the firm’s 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 directly owns 37,097 shares of the company’s stock, valued at approximately $2,413,159.85. The disclosure for this sale can be found here. 9.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Barrington Research cut their price objective on shares of Climb Global Solutions from $76.00 to $68.00 and set an “outperform” rating for the company in a research report on Monday.

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.