CDW Corporation (CDW) Set to Announce Quarterly Earnings on Wednesday
CDW Corporation (NASDAQ:CDW) is set to issue its quarterly earnings data before the market opens on Wednesday, November 1st. Analysts expect the company to announce earnings of $1.07 per share for the quarter.
CDW Corporation (NASDAQ:CDW) last released its earnings results on Thursday, August 3rd. The information technology services provider reported $1.03 earnings per share for the quarter, beating 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 firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.84 billion. During the same period in the prior year, the firm earned $0.93 EPS. The company’s revenue was up 9.0% compared to the same quarter last year. On average, analysts expect CDW Corporation to post $3.61 EPS for the current fiscal year and $4 EPS for the next fiscal year.
CDW Corporation (NASDAQ:CDW) opened at 69.96 on Wednesday. CDW Corporation has a 52-week low of $43.64 and a 52-week high of $71.53. The company has a market capitalization of $10.83 billion, a P/E ratio of 26.56 and a beta of 1.08. The stock’s 50 day moving average is $65.57 and its 200-day moving average is $62.30.
CDW Corporation announced that its Board of Directors has initiated a stock repurchase plan on Thursday, August 3rd that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.
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In related news, insider Christine A. Leahy sold 12,000 shares of the company’s stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $69.94, for a total transaction of $839,280.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan J. Stevens sold 6,700 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $64.04, for a total transaction of $429,068.00. Following the sale, the insider now directly owns 90,366 shares in the company, valued at approximately $5,787,038.64. The disclosure for this sale can be found here. Insiders sold 125,341 shares of company stock worth $7,986,401 in the last three months. Insiders own 2.60% of the company’s stock.
Several analysts recently issued reports on the stock. Raymond James Financial, Inc. lowered shares of CDW Corporation from a “market perform” rating to an “underperform” rating in a research report on Friday, October 13th. Stifel Nicolaus restated a “buy” rating and set a $70.00 target price on shares of CDW Corporation in a research report on Tuesday, October 17th. BidaskClub upgraded shares of CDW Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Royal Bank Of Canada restated a “buy” rating and set a $70.00 target price on shares of CDW Corporation in a research report on Wednesday, August 2nd. Finally, Robert W. Baird restated an “outperform” rating and set a $75.00 target price (up from $71.00) on shares of CDW Corporation in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $66.95.
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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