CDW Corp PT Raised to $34.00 (CDW)
JPMorgan Chase & Co. lifted their price objective on shares of CDW Corp (NASDAQ:CDW) from $32.00 to $34.00 in a research note issued on Friday. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price objective suggests a potential upside of 9.75% from the company’s current price.
Shares of CDW Corp (NASDAQ:CDW) traded up 0.29% on Friday, hitting $30.98. The stock had a trading volume of 511,318 shares. CDW Corp has a 1-year low of $20.50 and a 1-year high of $32.62. The stock has a 50-day moving average of $31.49 and a 200-day moving average of $27.96. The company has a market cap of $5.330 billion and a price-to-earnings ratio of 32.45. CDW Corp also was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 1,239,544 shares, an increase of 95.2% from the June 30th total of 634,931 shares. Based on an average trading volume of 767,008 shares, the short-interest ratio is currently 1.6 days. Currently, 1.5% of the shares of the stock are sold short.
CDW Corp (NASDAQ:CDW) last announced its earnings results on Thursday, July 31st. The company reported $0.67 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.57 by $0.10. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the company posted $0.46 earnings per share. The company’s quarterly revenue was up 33.4% on a year-over-year basis. Analysts expect that CDW Corp will post $2.27 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Stockholders of record on Monday, August 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 0.55%. The ex-dividend date of this dividend is Thursday, August 21st.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays reiterated an “overweight” rating on shares of CDW Corp in a research note on Friday. They now have a $38.00 price target on the stock, up previously from $36.00. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of CDW Corp in a research note on Friday. They now have a $34.00 price target on the stock, up previously from $32.00. Finally, analysts at Needham & Company LLC raised their price target on shares of CDW Corp from $32.00 to $35.00 in a research note on Friday. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. CDW Corp presently has an average rating of “Buy” and a consensus price target of $33.00.
CDW Corporation (NASDAQ:CDW) is a provider of integrated information technology (IT) solutions in the United States and Canada.
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