Brokerages Expect CDW Corporation (NASDAQ:CDW) Will Announce Quarterly Sales of $3.99 Billion
Analysts expect that CDW Corporation (NASDAQ:CDW) will report sales of $3.99 billion for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for CDW Corporation’s earnings. The highest sales estimate is $4.02 billion and the lowest is $3.93 billion. CDW Corporation posted sales of $3.71 billion during the same quarter last year, which indicates a positive year over year growth rate of 7.5%. The company is scheduled to announce its next earnings results on Wednesday, November 1st.
On average, analysts expect that CDW Corporation will report full year sales of $3.99 billion for the current year, with estimates ranging from $14.96 billion to $15.16 billion. For the next year, analysts expect that the firm will post sales of $15.85 billion per share, with estimates ranging from $15.65 billion to $16.17 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for CDW Corporation.
CDW Corporation (NASDAQ:CDW) last announced its earnings results on Thursday, August 3rd. The information technology services provider reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.05. CDW Corporation had a net margin of 2.95% and a return on equity of 58.89%. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.84 billion. During the same period in the previous year, the firm posted $0.93 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis.
CDW has been the subject of a number of research reports. Zacks Investment Research raised shares of CDW Corporation from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a report on Tuesday, July 11th. Royal Bank Of Canada reissued an “outperform” rating and issued a $64.00 target price on shares of CDW Corporation in a report on Friday, May 19th. Northcoast Research initiated coverage on shares of CDW Corporation in a report on Monday, April 24th. They issued a “buy” rating and a $70.00 target price for the company. Robert W. Baird reissued a “hold” rating on shares of CDW Corporation in a report on Wednesday, May 3rd. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $60.00 target price (up previously from $59.00) on shares of CDW Corporation in a report on Wednesday. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $65.94.
In other CDW Corporation news, insider Christina M. Corley sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $62.44, for a total transaction of $249,760.00. Following the completion of the transaction, the insider now owns 59,843 shares in the company, valued at approximately $3,736,596.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jonathan J. Stevens sold 6,700 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $60.93, for a total transaction of $408,231.00. Following the transaction, the insider now owns 96,040 shares of the company’s stock, valued at approximately $5,851,717.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,833 shares of company stock valued at $6,270,392. 2.20% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC raised its position in CDW Corporation by 12.7% in the first quarter. Catalyst Capital Advisors LLC now owns 2,080 shares of the information technology services provider’s stock valued at $120,000 after buying an additional 235 shares during the last quarter. James Investment Research Inc. purchased a new position in CDW Corporation during the first quarter valued at about $153,000. Creative Planning raised its position in CDW Corporation by 179.2% in the first quarter. Creative Planning now owns 3,256 shares of the information technology services provider’s stock valued at $188,000 after buying an additional 2,090 shares during the last quarter. Commerce Bank purchased a new position in CDW Corporation during the first quarter valued at about $211,000. Finally, Brown Advisory Securities LLC purchased a new position in CDW Corporation during the first quarter valued at about $212,000. Hedge funds and other institutional investors own 91.06% of the company’s stock.
CDW Corporation (NASDAQ CDW) opened at 61.06 on Friday. The company has a market capitalization of $9.46 billion, a P/E ratio of 23.18 and a beta of 1.08. CDW Corporation has a 52 week low of $43.46 and a 52 week high of $66.33. The firm has a 50 day moving average of $63.28 and a 200-day moving average of $59.72.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, August 25th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.64 dividend on an annualized basis and a yield of 1.05%. CDW Corporation’s dividend payout ratio (DPR) is presently 24.33%.
CDW Corporation declared that its Board of Directors has initiated a share repurchase plan on Thursday, August 3rd that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
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CDW Corporation Company Profile
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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