CDW Corporation (CDW) to Distribute Quarterly Dividend of $0.63 on September 10th

CDW Corporation (NASDAQ:CDW) declared a quarterly dividend on Wednesday, August 5th. Investors of record on Tuesday, August 25th will be given a dividend of 0.63 per share by the information technology services provider on Thursday, September 10th. This represents a c) annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Tuesday, August 25th.

CDW has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 10 consecutive years. CDW has a dividend payout ratio of 24.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect CDW to earn $11.75 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 21.4%.

CDW Stock Performance

Shares of CDW stock opened at $137.25 on Friday. The business has a fifty day moving average of $136.37 and a 200 day moving average of $128.40. CDW has a 1 year low of $97.12 and a 1 year high of $171.55. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.17 and a quick ratio of 1.05. The firm has a market capitalization of $17.16 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 1.81 and a beta of 0.96.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.11. The business had revenue of $6.57 billion for the quarter, compared to the consensus estimate of $6.21 billion. CDW had a return on equity of 50.61% and a net margin of 4.60%.The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.60 EPS. As a group, research analysts expect that CDW will post 10.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Royal Bank Of Canada upgraded CDW to an “outperform” rating and set a $130.00 target price on the stock in a research report on Wednesday, May 27th. Morgan Stanley raised their price target on shares of CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings raised shares of CDW from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Citigroup lifted their price objective on shares of CDW from $123.00 to $145.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Finally, Raymond James Financial set a $150.00 price objective on shares of CDW in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, CDW currently has a consensus rating of “Moderate Buy” and an average price target of $147.00.

About CDW

CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.