$0.71 Earnings Per Share Expected for CDW Corp (CDW) This Quarter
Brokerages expect CDW Corp (NASDAQ:CDW) to announce $0.71 earnings per share for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for CDW Corp’s earnings, with estimates ranging from $0.69 to $0.74. CDW Corp posted earnings of $0.64 per share in the same quarter last year, which would suggest a positive year over year growth rate of 10.9%. The firm is scheduled to announce its next earnings results on Wednesday, May 3rd.
According to Zacks, analysts expect that CDW Corp will report full year earnings of $3.59 per share for the current year, with EPS estimates ranging from $3.50 to $3.68. For the next fiscal year, analysts anticipate that the business will post earnings of $3.85 per share, with EPS estimates ranging from $3.81 to $3.88. Zacks’ EPS averages are a mean average based on a survey of research firms that that provide coverage for CDW Corp.
CDW Corp (NASDAQ:CDW) last released its quarterly earnings results on Tuesday, February 7th. The information technology services provider reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.05. The firm earned $3.49 billion during the quarter, compared to analysts’ expectations of $3.52 billion. CDW Corp had a return on equity of 53.32% and a net margin of 3.04%. CDW Corp’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.73 EPS.
CDW has been the topic of several recent research reports. Barclays PLC lifted their price objective on CDW Corp from $47.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, February 8th. Needham & Company LLC lifted their price objective on CDW Corp from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, February 7th. Goldman Sachs Group Inc raised CDW Corp from a “buy” rating to a “conviction-buy” rating and decreased their price objective for the stock from $61.00 to $51.51 in a report on Wednesday, February 1st. Royal Bank of Canada reissued an “outperform” rating and set a $64.00 price objective (up previously from $55.00) on shares of CDW Corp in a report on Wednesday, February 8th. Finally, Zacks Investment Research raised CDW Corp from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Friday, February 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $58.07.
In other CDW Corp news, VP Neil B. Fairfield sold 5,323 shares of CDW Corp stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $59.44, for a total value of $316,399.12. Following the completion of the transaction, the vice president now owns 1,483 shares in the company, valued at approximately $88,149.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Dennis G. Berger sold 67,800 shares of CDW Corp stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $58.87, for a total value of $3,991,386.00. Following the completion of the transaction, the insider now owns 55,807 shares of the company’s stock, valued at approximately $3,285,358.09. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. increased its position in shares of CDW Corp by 7.6% in the third quarter. Pacer Advisors Inc. now owns 3,012 shares of the information technology services provider’s stock valued at $138,000 after buying an additional 212 shares during the last quarter. Creative Planning increased its position in shares of CDW Corp by 160.9% in the third quarter. Creative Planning now owns 3,178 shares of the information technology services provider’s stock valued at $145,000 after buying an additional 1,960 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of CDW Corp during the third quarter valued at about $201,000. Atria Investments LLC increased its position in shares of CDW Corp by 2.1% in the first quarter. Atria Investments LLC now owns 3,962 shares of the information technology services provider’s stock valued at $229,000 after buying an additional 83 shares during the last quarter. Finally, Commonwealth Bank of Australia increased its position in shares of CDW Corp by 577.8% in the third quarter. Commonwealth Bank of Australia now owns 6,100 shares of the information technology services provider’s stock valued at $279,000 after buying an additional 5,200 shares during the last quarter. Hedge funds and other institutional investors own 91.06% of the company’s stock.
CDW Corp (NASDAQ:CDW) traded up 0.92% during trading on Monday, reaching $58.18. The company’s stock had a trading volume of 690,755 shares. The firm has a market capitalization of $9.27 billion, a price-to-earnings ratio of 22.73 and a beta of 1.01. CDW Corp has a 52-week low of $37.80 and a 52-week high of $61.00. The stock’s 50-day moving average is $58.30 and its 200 day moving average is $52.96.
CDW Corp 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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