CDW Corp’s Overweight Rating Reaffirmed at Barclays (CDW)
CDW Corp (NASDAQ:CDW)‘s stock had its “overweight” rating reiterated by stock analysts at Barclays in a report issued on Friday. They currently have a $38.00 target price on the stock, up from their previous target price of $36.00. Barclays’ target price suggests a potential upside of 22.95% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, 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. Finally, analysts at Raymond James downgraded shares of CDW Corp from an “outperform” rating to a “market perform” rating in a research note on Monday, July 7th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. CDW Corp has a consensus rating of “Buy” and a consensus target price of $32.71.
CDW Corp (NASDAQ:CDW) traded up 0.13% on Friday, hitting $30.93. The stock had a trading volume of 284,562 shares. CDW Corp has a 52 week low of $20.50 and a 52 week high of $32.62. The stock’s 50-day moving average is $31.47 and its 200-day moving average is $27.91. The company has a market cap of $5.321 billion and a P/E ratio of 32.45. CDW Corp also was the target of a significant increase in short interest in 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. Approximately 1.5% of the shares of the company are short sold. Based on an average daily volume of 767,008 shares, the short-interest ratio is currently 1.6 days.
CDW Corp (NASDAQ:CDW) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.67 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.46 earnings per share. CDW Corp’s revenue was up 33.4% compared to the same quarter last year. On average, analysts predict that CDW Corp will post $2.27 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Investors of record on Monday, August 25th will be paid a dividend of $0.0425 per share. This represents a $0.17 annualized dividend and a dividend yield of 0.55%.
CDW Corporation (NASDAQ:CDW) is a provider of integrated information technology (IT) solutions in the United States and Canada.
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