CDW Corporation (NASDAQ:CDW) Expected to Announce Earnings of $0.98 Per Share
Wall Street brokerages expect that CDW Corporation (NASDAQ:CDW) will announce earnings of $0.98 per share for the current quarter, according to Zacks. Seven analysts have issued estimates for CDW Corporation’s earnings, with the highest EPS estimate coming in at $1.00 and the lowest estimate coming in at $0.95. CDW Corporation reported earnings per share of $0.87 during the same quarter last year, which indicates a positive year-over-year growth rate of 12.6%. The company is scheduled to issue its next quarterly earnings report on Wednesday, August 2nd.
According to Zacks, analysts expect that CDW Corporation will report full-year earnings of $3.61 per share for the current fiscal year, with EPS estimates ranging from $3.53 to $3.65. For the next financial year, analysts expect that the business will report earnings of $3.99 per share, with EPS estimates ranging from $3.87 to $4.09. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for CDW Corporation.
CDW Corporation (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, May 3rd. The information technology services provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.04. CDW Corporation had a net margin of 2.85% and a return on equity of 55.44%. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the previous year, the firm posted $0.67 EPS. The business’s revenue was up 6.7% compared to the same quarter last year.
CDW has been the subject of several analyst reports. Zacks Investment Research cut shares of CDW Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, April 11th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $64.00 price target on shares of CDW Corporation in a report on Monday, April 17th. Northcoast Research started coverage on shares of CDW Corporation in a report on Monday, April 24th. They set a “buy” rating and a $70.00 price target on the stock. Barclays PLC reaffirmed an “overweight” rating and set a $64.00 price target (up from $62.00) on shares of CDW Corporation in a report on Monday, May 1st. Finally, Robert W. Baird reaffirmed a “hold” rating on shares of CDW Corporation in a report on Wednesday, May 3rd. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $62.28.
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In related news, insider Jonathan J. Stevens sold 6,700 shares of the business’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $58.91, for a total transaction of $394,697.00. Following the transaction, the insider now owns 102,366 shares in the company, valued at approximately $6,030,381.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas E. Richards sold 15,733 shares of the business’s stock in a transaction 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 transaction, the insider now owns 747,869 shares in the company, valued at approximately $47,482,202.81. The disclosure for this sale can be found here. Insiders have sold a total of 83,833 shares of company stock worth $5,152,381 in the last quarter. 2.20% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new stake in shares of CDW Corporation during the fourth quarter worth approximately $570,000. Pegasus Partners Ltd. raised its stake in shares of CDW Corporation by 8.3% in the fourth quarter. Pegasus Partners Ltd. now owns 19,058 shares of the information technology services provider’s stock worth $993,000 after buying an additional 1,453 shares during the period. Teachers Advisors LLC raised its stake in shares of CDW Corporation by 6.8% in the fourth quarter. Teachers Advisors LLC now owns 142,932 shares of the information technology services provider’s stock worth $7,445,000 after buying an additional 9,071 shares during the period. CENTRAL TRUST Co raised its stake in shares of CDW Corporation by 1.1% in the first quarter. CENTRAL TRUST Co now owns 6,183 shares of the information technology services provider’s stock worth $357,000 after buying an additional 65 shares during the period. Finally, Raymond James Trust N.A. raised its stake in shares of CDW Corporation by 1.4% in the first quarter. Raymond James Trust N.A. now owns 5,969 shares of the information technology services provider’s stock worth $344,000 after buying an additional 83 shares during the period. Institutional investors and hedge funds own 90.91% of the company’s stock.
CDW Corporation (CDW) traded down 0.38% on Friday, hitting $63.43. 215,608 shares of the stock traded hands. The firm’s 50 day moving average is $62.63 and its 200 day moving average is $58.54. The stock has a market cap of $9.96 billion, a price-to-earnings ratio of 25.81 and a beta of 1.08. CDW Corporation has a 52 week low of $40.56 and a 52 week high of $66.33.
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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