$3.48 Billion in Sales Expected for CDW Corp (CDW) This Quarter

Wall Street brokerages forecast that CDW Corp (NASDAQ:CDW) will report sales of $3.48 billion for the current quarter, according to Zacks. Six analysts have provided estimates for CDW’s earnings, with estimates ranging from $3.41 billion to $3.53 billion. CDW reported sales of $3.32 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 4.8%. The firm is expected to report its next quarterly earnings results on Wednesday, May 2nd.

According to Zacks, analysts expect that CDW will report full-year sales of $3.48 billion for the current year, with estimates ranging from $15.58 billion to $16.20 billion. For the next financial year, analysts anticipate that the company will post sales of $16.86 billion per share, with estimates ranging from $16.53 billion to $17.15 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for CDW.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, February 7th. The information technology services provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. CDW had a return on equity of 68.41% and a net margin of 3.44%. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same period in the prior year, the firm posted $0.86 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis.

A number of research analysts have commented on CDW shares. Zacks Investment Research lowered CDW from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Raymond James Financial lowered CDW from a “market perform” rating to an “underperform” rating in a report on Friday, October 13th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $80.00 price objective on shares of CDW in a report on Monday, January 15th. Morgan Stanley upped their target price on CDW from $58.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday, November 2nd. Finally, ValuEngine upgraded CDW from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $72.00.

In other news, insider Thomas E. Richards sold 13,721 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $72.93, for a total transaction of $1,000,672.53. Following the completion of the sale, the insider now directly owns 642,302 shares in the company, valued at approximately $46,843,084.86. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas E. Richards sold 15,207 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $66.25, for a total value of $1,007,463.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,396 shares of company stock valued at $4,477,782. Corporate insiders own 2.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Suntrust Banks Inc. lifted its position in shares of CDW by 40.2% during the 4th quarter. Suntrust Banks Inc. now owns 4,907 shares of the information technology services provider’s stock worth $339,000 after buying an additional 1,406 shares during the last quarter. American International Group Inc. lifted its position in shares of CDW by 78.9% during the 4th quarter. American International Group Inc. now owns 8,038 shares of the information technology services provider’s stock worth $559,000 after buying an additional 3,546 shares during the last quarter. Wetherby Asset Management Inc. bought a new stake in shares of CDW during the 4th quarter worth $271,000. Itau Unibanco Holding S.A. lifted its position in shares of CDW by 94.1% during the 4th quarter. Itau Unibanco Holding S.A. now owns 5,669 shares of the information technology services provider’s stock worth $394,000 after buying an additional 2,748 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of CDW during the 4th quarter worth $274,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

CDW (CDW) opened at $69.14 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.37 and a debt-to-equity ratio of 4.20. CDW has a 1-year low of $55.80 and a 1-year high of $76.73. The company has a market capitalization of $10,568.99, a price-to-earnings ratio of 18.61 and a beta of 1.06.

The business also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Monday, February 26th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, February 23rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.21%. CDW’s payout ratio is 25.23%.

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About CDW

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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