Climb Global Solutions, Inc. (NASDAQ:CLMB) to Issue $0.17 Quarterly Dividend

Climb Global Solutions, Inc. (NASDAQ:CLMB) declared a quarterly dividend on Monday, April 29th, NASDAQ reports. Stockholders of record on Monday, May 13th will be paid a dividend of 0.17 per share on Friday, May 17th. This represents a $0.68 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, May 10th.

Climb Global Solutions has a dividend payout ratio of 20.3% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Down 0.9 %

NASDAQ CLMB opened at $56.36 on Thursday. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 0.01. Climb Global Solutions has a 12 month low of $37.67 and a 12 month high of $73.25. The stock’s 50 day moving average is $67.00 and its 200 day moving average is $57.46. The stock has a market cap of $258.41 million, a PE ratio of 21.84, a P/E/G ratio of 2.02 and a beta of 0.98.

Climb Global Solutions (NASDAQ:CLMB) last issued its earnings results on Wednesday, May 1st. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.15). Climb Global Solutions had a return on equity of 18.93% and a net margin of 3.26%. The firm had revenue of $92.42 million during the quarter, compared to the consensus estimate of $105.44 million. During the same period last year, the firm posted $0.74 earnings per share. Research analysts predict that Climb Global Solutions will post 2.92 EPS for the current fiscal year.

Insider Buying and Selling at Climb Global Solutions

In related news, CMO Charles Edward Bass sold 500 shares of Climb Global Solutions stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $65.05, for a total transaction of $32,525.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Climb Global Solutions news, CMO Charles Edward Bass sold 500 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $65.05, for a total value of $32,525.00. Following the transaction, the chief marketing officer now owns 37,097 shares of the company’s stock, valued at approximately $2,413,159.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 sale, the chief executive officer now directly owns 102,092 shares of the company’s stock, valued at $6,686,005.08. The disclosure for this sale can be found here. Company insiders own 9.70% of the company’s stock.

Wall Street Analyst Weigh In

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

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.