Wall Street analysts expect CDW Corporation (NASDAQ:CDW) to announce sales of $3.84 billion for the current quarter, according to Zacks. Seven analysts have provided estimates for CDW Corporation’s earnings, with the highest sales estimate coming in at $3.86 billion and the lowest estimate coming in at $3.81 billion. CDW Corporation posted sales of $3.49 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 10%. The company is expected to issue its next earnings report on Tuesday, February 6th.
According to Zacks, analysts expect that CDW Corporation will report full-year sales of $3.84 billion for the current financial year, with estimates ranging from $15.16 billion to $15.22 billion. For the next financial year, analysts forecast that the company will post sales of $16.02 billion per share, with estimates ranging from $15.85 billion to $16.22 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow CDW Corporation.
CDW Corporation (NASDAQ:CDW) last issued its earnings results on Wednesday, November 1st. The information technology services provider reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.06. The business had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $3.99 billion. CDW Corporation had a return on equity of 62.71% and a net margin of 2.90%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 earnings per share.
A number of equities research analysts have weighed in on the company. Robert W. Baird reiterated an “outperform” rating and issued a $75.00 target price (up from $71.00) on shares of CDW Corporation in a report on Wednesday, August 9th. BidaskClub upgraded CDW Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 7th. Royal Bank Of Canada reissued an “outperform” rating and issued a $71.00 price objective (up previously from $70.00) on shares of CDW Corporation in a research note on Wednesday, August 9th. Zacks Investment Research raised CDW Corporation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, J P Morgan Chase & Co reissued a “neutral” rating and issued a $60.00 price objective (up previously from $59.00) on shares of CDW Corporation in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $67.85.
In other CDW Corporation news, insider Thomas E. Richards sold 16,861 shares of the business’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $58.73, for a total value of $990,246.53. Following the transaction, the insider now owns 714,931 shares of the company’s stock, valued at $41,987,897.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ann Elizabeth Ziegler sold 39,147 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $68.94, for a total value of $2,698,794.18. Following the completion of the transaction, the insider now directly owns 47,477 shares in the company, valued at approximately $3,273,064.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 132,413 shares of company stock worth $8,727,080. 2.60% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the business. Sumitomo Mitsui Trust Holdings Inc. boosted its position in CDW Corporation by 15.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 456,109 shares of the information technology services provider’s stock worth $28,520,000 after purchasing an additional 60,173 shares during the last quarter. Nationwide Fund Advisors boosted its position in CDW Corporation by 152.7% in the second quarter. Nationwide Fund Advisors now owns 265,340 shares of the information technology services provider’s stock worth $16,592,000 after purchasing an additional 160,340 shares during the last quarter. Ameriprise Financial Inc. boosted its position in CDW Corporation by 7.9% in the second quarter. Ameriprise Financial Inc. now owns 197,811 shares of the information technology services provider’s stock worth $12,371,000 after purchasing an additional 14,442 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in CDW Corporation by 13.4% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 330,196 shares of the information technology services provider’s stock worth $20,647,000 after purchasing an additional 38,904 shares during the last quarter. Finally, Teachers Advisors LLC boosted its position in CDW Corporation by 70.0% in the first quarter. Teachers Advisors LLC now owns 242,945 shares of the information technology services provider’s stock worth $14,020,000 after purchasing an additional 100,013 shares during the last quarter. 91.25% of the stock is currently owned by institutional investors and hedge funds.
Shares of CDW Corporation (CDW) opened at $67.17 on Wednesday. The firm has a market capitalization of $10,368.47, a P/E ratio of 19.14 and a beta of 1.08. The company has a quick ratio of 1.15, a current ratio of 1.37 and a debt-to-equity ratio of 4.20. CDW Corporation has a 1-year low of $48.75 and a 1-year high of $71.53.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 24th will be given a dividend of $0.21 per share. This is a boost from CDW Corporation’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.84 annualized dividend and a dividend yield of 1.25%. CDW Corporation’s payout ratio is presently 23.70%.
CDW Corporation declared that its Board of Directors has initiated a stock buyback plan on Thursday, August 3rd that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are 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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