CDW Corp. (CDW) Announces Quarterly Earnings Results, Beats Expectations By $0.08 EPS
CDW Corp. (NASDAQ:CDW) announced its earnings results on Thursday. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.08, AnalystRatingsNetwork.com reports. The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis.
On the ratings front, analysts at Barclays upgraded shares of CDW Corp. from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 25th. They now have a $26.00 price target on the stock, up previously from $24.00. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $25.86.
Shares of CDW Corp. (NASDAQ:CDW) traded up 3.51% during mid-day trading on Thursday, hitting $24.50. 197,925 shares of the company’s stock traded hands. CDW Corp. has a 1-year low of $17.38 and a 1-year high of $25.58. The stock’s 50-day moving average is $23.75 and its 200-day moving average is $22.91. The company has a market cap of $4.213 billion and a P/E ratio of 26.72.
The company also recently declared a quarterly dividend, which is scheduled for Monday, March 10th. Shareholders of record on Tuesday, February 25th will be given a dividend of $0.0425 per share. This represents a $0.17 dividend on an annualized basis and a yield of 0.72%.
CDW Corporation (NASDAQ:CDW) is a provider of integrated information technology (IT) solutions in the United States and Canada.
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