CDW (CDW) Expected to Post Quarterly Sales of $4.24 Billion

Equities analysts expect CDW (NASDAQ:CDW) to announce $4.24 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for CDW’s earnings. The lowest sales estimate is $4.21 billion and the highest is $4.29 billion. CDW posted sales of $4.03 billion in the same quarter last year, which would indicate a positive year over year growth rate of 5.2%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, November 7th.

On average, analysts expect that CDW will report full-year sales of $16.04 billion for the current financial year, with estimates ranging from $16.00 billion to $16.15 billion. For the next financial year, analysts expect that the firm will report sales of $16.94 billion per share, with estimates ranging from $16.84 billion to $17.06 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for CDW.

CDW (NASDAQ:CDW) last released its earnings results on Thursday, August 2nd. The information technology services provider reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.14. The business had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.16 billion. CDW had a net margin of 3.99% and a return on equity of 71.09%. CDW’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 earnings per share.

Several equities analysts recently issued reports on the stock. Needham & Company LLC boosted their target price on shares of CDW from $84.00 to $100.00 and gave the company a “buy” rating in a report on Friday, August 3rd. Morgan Stanley boosted their target price on shares of CDW from $78.00 to $89.00 and gave the company an “equal weight” rating in a report on Friday, August 3rd. BidaskClub lowered shares of CDW from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 25th. Zacks Investment Research upgraded shares of CDW from a “hold” rating to a “buy” rating and set a $97.00 target price on the stock in a report on Tuesday, July 24th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $92.00 target price on shares of CDW in a report on Monday, July 23rd. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. CDW currently has a consensus rating of “Buy” and an average target price of $87.00.

In related news, insider Thomas E. Richards sold 17,112 shares of the company’s stock in a transaction dated Thursday, July 12th. The shares were sold at an average price of $84.71, for a total value of $1,449,557.52. Following the sale, the insider now owns 617,187 shares in the company, valued at approximately $52,281,910.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christina V. Rother sold 4,000 shares of the company’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $85.08, for a total transaction of $340,320.00. Following the completion of the sale, the insider now owns 114,231 shares in the company, valued at approximately $9,718,773.48. The disclosure for this sale can be found here. Insiders have sold 122,360 shares of company stock worth $10,546,965 in the last quarter. Company insiders own 2.60% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of CDW by 11.9% in the 1st quarter. BlackRock Inc. now owns 13,264,623 shares of the information technology services provider’s stock worth $932,638,000 after acquiring an additional 1,411,886 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in shares of CDW by 7.5% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 4,505,813 shares of the information technology services provider’s stock worth $316,804,000 after acquiring an additional 315,961 shares during the last quarter. Northern Trust Corp raised its holdings in shares of CDW by 1.9% in the 2nd quarter. Northern Trust Corp now owns 1,171,168 shares of the information technology services provider’s stock worth $94,620,000 after acquiring an additional 21,755 shares during the last quarter. Madison Investment Holdings Inc. raised its holdings in shares of CDW by 2.4% in the 2nd quarter. Madison Investment Holdings Inc. now owns 1,151,278 shares of the information technology services provider’s stock worth $93,012,000 after acquiring an additional 27,054 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of CDW by 7.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 868,395 shares of the information technology services provider’s stock worth $70,158,000 after acquiring an additional 59,184 shares during the last quarter. Institutional investors own 89.17% of the company’s stock.

CDW stock opened at $89.08 on Friday. The firm has a market capitalization of $13.48 billion, a P/E ratio of 22.96 and a beta of 1.06. The company has a current ratio of 1.36, a quick ratio of 1.16 and a debt-to-equity ratio of 3.00. CDW has a 12-month low of $62.04 and a 12-month high of $90.50.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Stockholders of record on Friday, August 24th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 23rd. This represents a $0.84 annualized dividend and a dividend yield of 0.94%. CDW’s dividend payout ratio is currently 21.65%.

CDW Company Profile

CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers in the United States, Canada, and the United Kingdom. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.

Read More: Google Finance Portfolio Workaround

Get a free copy of the Zacks research report on CDW (CDW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for CDW Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDW and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply