CDW Corporation (CDW) Expected to Announce Quarterly Sales of $3.99 Billion
Equities analysts expect CDW Corporation (NASDAQ:CDW) to announce sales of $3.99 billion for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for CDW Corporation’s earnings, with the lowest sales estimate coming in at $3.93 billion and the highest estimate coming in at $4.02 billion. CDW Corporation reported sales of $3.71 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 7.5%. The business is scheduled to announce its next earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that CDW Corporation will report full-year sales of $3.99 billion for the current year, with estimates ranging from $14.96 billion to $15.16 billion. For the next year, analysts expect that the business will report sales of $15.85 billion per share, with estimates ranging from $15.65 billion to $16.17 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow CDW Corporation.
CDW Corporation (NASDAQ:CDW) last posted its quarterly earnings data on Thursday, August 3rd. The information technology services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.05. The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.84 billion. CDW Corporation had a net margin of 2.95% and a return on equity of 58.89%. The business’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm posted $0.93 earnings per share.
A number of brokerages have weighed in on CDW. Royal Bank Of Canada boosted their target price on shares of CDW Corporation from $64.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, June 26th. Zacks Investment Research raised shares of CDW Corporation from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird reaffirmed an “outperform” rating and issued a $75.00 target price (up from $71.00) on shares of CDW Corporation in a research note on Wednesday. Barclays PLC downgraded shares of CDW Corporation from an “overweight” rating to an “equal weight” rating and set a $64.00 target price for the company. in a research note on Monday, July 24th. Finally, BidaskClub downgraded shares of CDW Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $65.94.
In related news, insider Thomas E. Richards sold 15,733 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $63.49, for a total transaction of $998,888.17. Following the completion of the sale, the insider now directly owns 747,869 shares of the company’s stock, valued at $47,482,202.81. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christine A. Leahy sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $59.22, for a total transaction of $710,640.00. Following the sale, the insider now directly owns 210,130 shares of the company’s stock, valued at $12,443,898.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,833 shares of company stock valued at $6,270,392. 2.20% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the company. Catalyst Capital Advisors LLC increased its stake in CDW Corporation by 12.7% in the first quarter. Catalyst Capital Advisors LLC now owns 2,080 shares of the information technology services provider’s stock worth $120,000 after buying an additional 235 shares during the period. James Investment Research Inc. acquired a new stake in CDW Corporation during the first quarter worth $153,000. Creative Planning increased its stake in CDW Corporation by 179.2% in the first quarter. Creative Planning now owns 3,256 shares of the information technology services provider’s stock worth $188,000 after buying an additional 2,090 shares during the period. Commerce Bank acquired a new stake in CDW Corporation during the first quarter worth $211,000. Finally, Brown Advisory Securities LLC acquired a new stake in CDW Corporation during the first quarter worth $212,000. 91.06% of the stock is owned by institutional investors and hedge funds.
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CDW Corporation (CDW) opened at 61.06 on Friday. CDW Corporation has a 12-month low of $43.46 and a 12-month high of $66.33. The company has a market capitalization of $9.46 billion, a PE ratio of 23.18 and a beta of 1.08. The stock has a 50 day moving average of $63.28 and a 200 day moving average of $59.72.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, August 25th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Wednesday, August 23rd. CDW Corporation’s dividend payout ratio (DPR) is 24.33%.
CDW Corporation announced that its board has authorized a share buyback program on Thursday, August 3rd that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
About CDW Corporation
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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