$1.07 EPS Expected for CDW Corporation (CDW) This Quarter
Wall Street analysts forecast that CDW Corporation (NASDAQ:CDW) will post earnings of $1.07 per share for the current quarter, Zacks reports. Seven analysts have provided estimates for CDW Corporation’s earnings. The highest EPS estimate is $1.09 and the lowest is $1.03. CDW Corporation reported earnings of $0.97 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 10.3%. The company is scheduled to issue its next earnings results on Wednesday, November 1st.
On average, analysts expect that CDW Corporation will report full-year earnings of $3.83 per share for the current fiscal year, with EPS estimates ranging from $3.80 to $3.87. For the next financial year, analysts forecast that the business will report earnings of $4.25 per share, with EPS estimates ranging from $4.20 to $4.28. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow CDW Corporation.
CDW Corporation (NASDAQ:CDW) last issued its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.05. The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.84 billion. CDW Corporation had a net margin of 2.95% and a return on equity of 58.89%. CDW Corporation’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $0.93 EPS.
Several analysts recently weighed in on the company. BidaskClub upgraded CDW Corporation from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Needham & Company LLC restated a “buy” rating and issued a $71.00 price objective on shares of CDW Corporation in a report on Monday, September 18th. Stifel Nicolaus restated a “buy” rating and issued a $70.00 price objective on shares of CDW Corporation in a report on Tuesday, September 12th. J P Morgan Chase & Co restated a “neutral” rating and issued a $60.00 price objective (up from $59.00) on shares of CDW Corporation in a report on Wednesday, August 9th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $71.00 price objective (up from $70.00) on shares of CDW Corporation in a report on Wednesday, August 9th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $66.95.
Shares of CDW Corporation (NASDAQ CDW) traded up 0.0538% on Thursday, hitting $69.7375. 78,477 shares of the company traded hands. The firm’s 50-day moving average is $62.63 and its 200 day moving average is $61.12. The firm has a market capitalization of $10.80 billion, a P/E ratio of 26.4759 and a beta of 1.08. CDW Corporation has a 1-year low of $43.64 and a 1-year high of $70.17.
The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 25th were issued a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.64 dividend on an annualized basis and a yield of 0.92%. CDW Corporation’s dividend payout ratio is presently 24.33%.
CDW Corporation declared that its Board of Directors has approved a share buyback program on Thursday, August 3rd that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
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In other CDW Corporation news, insider Jonathan J. Stevens sold 6,700 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $64.04, for a total value of $429,068.00. Following the completion of the transaction, the insider now directly owns 90,366 shares in the company, valued at $5,787,038.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas E. Richards sold 16,861 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $58.73, for a total transaction of $990,246.53. Following the completion of the transaction, the insider now owns 714,931 shares of the company’s stock, valued at $41,987,897.63. The disclosure for this sale can be found here. Insiders sold 117,471 shares of company stock valued at $7,270,769 over the last quarter. 2.60% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in CDW Corporation by 4.5% in the first quarter. Vanguard Group Inc. now owns 15,015,969 shares of the information technology services provider’s stock worth $866,571,000 after purchasing an additional 653,020 shares in the last quarter. BlackRock Inc. raised its holdings in CDW Corporation by 7,281.8% in the first quarter. BlackRock Inc. now owns 10,875,190 shares of the information technology services provider’s stock worth $627,607,000 after purchasing an additional 10,727,865 shares in the last quarter. State Street Corp raised its holdings in CDW Corporation by 3.0% in the first quarter. State Street Corp now owns 2,836,131 shares of the information technology services provider’s stock worth $163,683,000 after purchasing an additional 81,539 shares in the last quarter. Eaton Vance Management raised its holdings in CDW Corporation by 7.6% in the second quarter. Eaton Vance Management now owns 1,518,629 shares of the information technology services provider’s stock worth $94,960,000 after purchasing an additional 107,227 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in CDW Corporation by 16.3% in the first quarter. Geode Capital Management LLC now owns 1,369,568 shares of the information technology services provider’s stock worth $79,015,000 after purchasing an additional 191,517 shares in the last quarter. Institutional investors and hedge funds own 90.65% of the company’s stock.
CDW Corporation Company Profile
CDW Corporation (CDW) is a provider of integrated information technology (IT) solutions in the United States, Canada and the United Kingdom. The Company’s segments include Corporate, Public and Other. The Corporate segment consists of private sector business customers in the United States based on employee size between Medium/Large customers, which primarily includes organizations with more than 100 employees, and Small Business customers, which primarily includes organizations with up to 100 employees.
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