$0.71 Earnings Per Share Expected for CDW Corp (CDW) This Quarter
Wall Street analysts expect CDW Corp (NASDAQ:CDW) to post $0.71 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for CDW Corp’s earnings, with the highest EPS estimate coming in at $0.74 and the lowest estimate coming in at $0.69. CDW Corp reported earnings of $0.64 per share during the same quarter last year, which would suggest a positive year over year growth rate of 10.9%. The business is scheduled to issue its next earnings results on Wednesday, May 3rd.
On average, analysts expect that CDW Corp will report full year earnings of $3.59 per share for the current financial year, with EPS estimates ranging from $3.50 to $3.68. For the next financial year, analysts forecast that the firm will report earnings of $3.85 per share, with EPS estimates ranging from $3.81 to $3.88. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow CDW Corp.
CDW Corp (NASDAQ:CDW) last posted its quarterly earnings data on Tuesday, February 7th. The information technology services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.52 billion. CDW Corp had a return on equity of 53.32% and a net margin of 3.04%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.73 earnings per share.
Several brokerages recently issued reports on CDW. Zacks Investment Research lowered CDW Corp from a “hold” rating to a “strong sell” rating in a research report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $64.00 target price on shares of CDW Corp in a research report on Monday, March 6th. Barclays PLC raised their target price on CDW Corp from $47.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 8th. Needham & Company LLC raised their target price on CDW Corp from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, March 3rd. Finally, Goldman Sachs Group Inc raised CDW Corp from a “buy” rating to a “conviction-buy” rating and lowered their target price for the stock from $61.00 to $51.51 in a research report on Wednesday, February 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $58.07.
CDW Corp (NASDAQ:CDW) traded up 0.92% during trading on Monday, reaching $58.18. The company’s stock had a trading volume of 690,755 shares. CDW Corp has a 1-year low of $37.80 and a 1-year high of $61.00. The stock has a market cap of $9.27 billion, a P/E ratio of 22.73 and a beta of 1.01. The company’s 50 day moving average price is $58.30 and its 200-day moving average price is $52.96.
In related news, insider Dennis G. Berger sold 67,800 shares of the business’s stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $58.87, for a total value of $3,991,386.00. Following the completion of the sale, the insider now directly owns 55,807 shares of the company’s stock, valued at approximately $3,285,358.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Neil B. Fairfield sold 5,323 shares of the business’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $59.44, for a total value of $316,399.12. Following the completion of the sale, the vice president now directly owns 1,483 shares of the company’s stock, valued at $88,149.52. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Barometer Capital Management Inc. purchased a new stake in shares of CDW Corp during the first quarter worth approximately $2,124,000. DnB Asset Management AS purchased a new stake in shares of CDW Corp during the first quarter worth approximately $640,000. Atria Investments LLC raised its stake in shares of CDW Corp by 2.1% in the first quarter. Atria Investments LLC now owns 3,962 shares of the information technology services provider’s stock worth $229,000 after buying an additional 83 shares during the last quarter. BKD Wealth Advisors LLC raised its stake in shares of CDW Corp by 6.1% in the first quarter. BKD Wealth Advisors LLC now owns 5,756 shares of the information technology services provider’s stock worth $332,000 after buying an additional 330 shares during the last quarter. Finally, Parametrica Management Ltd purchased a new stake in shares of CDW Corp during the first quarter worth approximately $491,000. 91.06% of the stock is owned by institutional investors and hedge funds.
CDW Corp 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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