CDK Global, Inc. (CDK) Expected to Post Earnings of $0.69 Per Share
Equities analysts predict that CDK Global, Inc. (NASDAQ:CDK) will report $0.69 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for CDK Global’s earnings, with the highest EPS estimate coming in at $0.70 and the lowest estimate coming in at $0.68. CDK Global posted earnings per share of $0.60 during the same quarter last year, which would suggest a positive year-over-year growth rate of 15%. The company is expected to announce its next quarterly earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that CDK Global will report full-year earnings of $2.93 per share for the current year, with EPS estimates ranging from $2.90 to $2.97. For the next year, analysts anticipate that the firm will report earnings of $3.61 per share, with EPS estimates ranging from $3.40 to $3.83. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover CDK Global.
CDK Global (NASDAQ:CDK) last announced its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.01. The business had revenue of $565.40 million for the quarter, compared to analyst estimates of $556.68 million. CDK Global had a net margin of 13.31% and a return on equity of 204.80%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 earnings per share.
CDK has been the topic of several recent analyst reports. BidaskClub upgraded CDK Global from a “hold” rating to a “buy” rating in a research note on Saturday, August 19th. TheStreet cut CDK Global from a “c” rating to a “d+” rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded CDK Global from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Wells Fargo & Company upgraded CDK Global from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research note on Wednesday, June 21st. Finally, Evercore ISI upgraded CDK Global from an “in-line” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research note on Monday, July 10th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. CDK Global currently has a consensus rating of “Buy” and a consensus target price of $71.75.
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Shares of CDK Global (NASDAQ:CDK) opened at 62.46 on Friday. CDK Global has a 12 month low of $53.46 and a 12 month high of $67.49. The stock has a 50 day moving average of $63.27 and a 200-day moving average of $63.57. The company has a market cap of $8.75 billion, a price-to-earnings ratio of 31.39 and a beta of 0.75.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 11th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, September 8th. CDK Global’s payout ratio is 28.00%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of CDK Global by 4.0% during the 2nd quarter. BlackRock Inc. now owns 13,718,146 shares of the software maker’s stock worth $851,347,000 after purchasing an additional 521,564 shares during the period. Vanguard Group Inc. raised its stake in shares of CDK Global by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 12,646,904 shares of the software maker’s stock worth $784,867,000 after purchasing an additional 434,687 shares during the period. Credit Suisse AG raised its stake in shares of CDK Global by 2.6% during the 1st quarter. Credit Suisse AG now owns 3,532,673 shares of the software maker’s stock worth $229,659,000 after purchasing an additional 88,269 shares during the period. Principal Financial Group Inc. raised its stake in shares of CDK Global by 4.0% during the 2nd quarter. Principal Financial Group Inc. now owns 2,528,901 shares of the software maker’s stock worth $156,943,000 after purchasing an additional 98,417 shares during the period. Finally, Southpoint Capital Advisors LP raised its stake in shares of CDK Global by 13.8% during the 2nd quarter. Southpoint Capital Advisors LP now owns 2,275,700 shares of the software maker’s stock worth $141,230,000 after purchasing an additional 275,700 shares during the period. Institutional investors own 85.06% of the company’s stock.
CDK Global Company Profile
CDK Global, Inc provides integrated information technology and digital marketing solutions. The Company’s segments include Retail Solutions North America, Advertising North America and CDK International. Through its Retail Solutions North America segment, the Company provides technology-based solutions, including automotive Website platforms, that help automotive retailers, original equipment manufacturers (OEMs) and other industry participants manage the acquisition, sale, financing, insuring, parts supply, repair and maintenance of vehicles.
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