Climb Global Solutions, Inc. (CLMB) to Issue Quarterly Dividend of $0.17 on November 15th

Climb Global Solutions, Inc. (NASDAQ:CLMB) announced a quarterly dividend on Wednesday, October 30th, Zacks reports. Shareholders 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 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Friday, November 8th.

Climb Global Solutions has a payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings. Research 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 1.4 %

NASDAQ:CLMB opened at $109.46 on Wednesday. Climb Global Solutions has a 1-year low of $40.63 and a 1-year high of $118.59. The firm has a market capitalization of $504.61 million, a price-to-earnings ratio of 29.66, a PEG ratio of 2.78 and a beta of 1.06. The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 0.01. The business’s fifty day moving average price is $98.83 and its 200 day moving average price is $76.64.

Climb Global Solutions (NASDAQ:CLMB) last released its earnings results on Tuesday, August 6th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.35. The company had revenue of $92.08 million during the quarter, compared to the consensus estimate of $97.27 million. Climb Global Solutions had a net margin of 4.11% and a return on equity of 24.44%. On average, sell-side analysts forecast that Climb Global Solutions will post 3.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.