$4.02 Billion in Sales Expected for CDW (CDW) This Quarter

Brokerages forecast that CDW (NASDAQ:CDW) will post sales of $4.02 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for CDW’s earnings, with the lowest sales estimate coming in at $3.94 billion and the highest estimate coming in at $4.11 billion. CDW reported sales of $3.84 billion in the same quarter last year, which would suggest a positive year over year growth rate of 4.7%. The business is expected to announce its next quarterly earnings report on Wednesday, February 6th.

According to Zacks, analysts expect that CDW will report full year sales of $16.19 billion for the current financial year, with estimates ranging from $16.11 billion to $16.28 billion. For the next financial year, analysts anticipate that the business will post sales of $17.12 billion, with estimates ranging from $16.98 billion to $17.38 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for CDW.

CDW (NASDAQ:CDW) last issued its quarterly earnings results on Wednesday, October 31st. The information technology services provider reported $1.42 EPS for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.08. CDW had a return on equity of 70.39% and a net margin of 4.24%. The company had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the firm posted $1.08 EPS. The firm’s revenue was up 11.2% compared to the same quarter last year.

Several equities analysts have recently issued reports on CDW shares. BidaskClub raised CDW from a “hold” rating to a “buy” rating in a report on Wednesday, October 17th. Zacks Investment Research cut CDW from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. ValuEngine cut CDW from a “buy” rating to a “hold” rating in a report on Monday, October 8th. Morgan Stanley boosted their price objective on CDW from $78.00 to $89.00 and gave the company an “equal weight” rating in a report on Friday, August 3rd. Finally, Needham & Company LLC boosted their price objective on CDW from $84.00 to $100.00 and gave the company a “buy” rating in a report on Friday, August 3rd. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $88.63.

In related news, insider Frederick J. Kulevich sold 2,421 shares of CDW stock in a transaction dated Monday, November 12th. The stock was sold at an average price of $89.25, for a total value of $216,074.25. Following the completion of the transaction, the insider now owns 18,925 shares in the company, valued at approximately $1,689,056.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Matthew A. Troka sold 6,138 shares of CDW stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $86.82, for a total value of $532,901.16. Following the completion of the transaction, the insider now owns 73,309 shares of the company’s stock, valued at approximately $6,364,687.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,252 shares of company stock valued at $7,918,866. 2.60% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in CDW. Bessemer Group Inc. increased its stake in shares of CDW by 149.5% in the 3rd quarter. Bessemer Group Inc. now owns 1,295 shares of the information technology services provider’s stock valued at $115,000 after purchasing an additional 776 shares in the last quarter. Synovus Financial Corp increased its stake in shares of CDW by 62.1% in the 3rd quarter. Synovus Financial Corp now owns 1,470 shares of the information technology services provider’s stock valued at $131,000 after purchasing an additional 563 shares in the last quarter. Riverhead Capital Management LLC increased its stake in shares of CDW by 82.4% in the 3rd quarter. Riverhead Capital Management LLC now owns 1,550 shares of the information technology services provider’s stock valued at $138,000 after purchasing an additional 700 shares in the last quarter. Bank of Hawaii purchased a new position in shares of CDW in the 2nd quarter valued at about $209,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of CDW in the 2nd quarter valued at about $224,000. Hedge funds and other institutional investors own 89.88% of the company’s stock.

Shares of CDW stock opened at $87.87 on Friday. The stock has a market capitalization of $13.01 billion, a PE ratio of 22.65 and a beta of 1.02. The company has a quick ratio of 1.24, a current ratio of 1.41 and a debt-to-equity ratio of 2.75. CDW has a 52-week low of $65.98 and a 52-week high of $92.18.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Monday, November 26th will be paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, November 23rd. This is a positive change from CDW’s previous quarterly dividend of $0.21. CDW’s payout ratio is currently 21.65%.

CDW Company Profile

CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers in the United States, Canada, and the United Kingdom. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.

Featured Story: What is a Candlestick Chart?

Get a free copy of the Zacks research report on CDW (CDW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for CDW Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDW and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply