Brokerages expect CDW Corporation (NASDAQ:CDW) to post earnings per share (EPS) of $0.98 for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for CDW Corporation’s earnings, with the highest EPS estimate coming in at $1.00 and the lowest estimate coming in at $0.95. CDW Corporation reported earnings per share of $0.87 during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.6%. The firm is expected to announce its next earnings report on Wednesday, August 2nd.
According to Zacks, analysts expect that CDW Corporation will report full-year earnings of $3.61 per share for the current financial year, with EPS estimates ranging from $3.53 to $3.65. For the next year, analysts expect that the company will post earnings of $3.99 per share, with EPS estimates ranging from $3.87 to $4.09. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for CDW Corporation.
CDW Corporation (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, May 3rd. The information technology services provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. CDW Corporation had a return on equity of 55.44% and a net margin of 2.85%. The business had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the prior year, the company earned $0.67 EPS. The business’s revenue was up 6.7% compared to the same quarter last year.
Several equities research analysts recently issued reports on the company. BidaskClub downgraded CDW Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 29th. Robert W. Baird upgraded CDW Corporation from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $63.00 to $71.00 in a report on Tuesday, May 9th. Zacks Investment Research downgraded CDW Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. Royal Bank Of Canada reiterated a “buy” rating and issued a $64.00 price objective on shares of CDW Corporation in a report on Monday, April 17th. Finally, Northcoast Research assumed coverage on CDW Corporation in a report on Monday, April 24th. They issued a “buy” rating and a $70.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. CDW Corporation has an average rating of “Buy” and a consensus target price of $62.28.
CDW Corporation (NASDAQ CDW) traded down 0.38% during trading on Friday, hitting $63.43. The stock had a trading volume of 215,608 shares. CDW Corporation has a one year low of $40.56 and a one year high of $66.33. The company has a market cap of $9.96 billion, a P/E ratio of 25.81 and a beta of 1.08. The firm has a 50 day moving average of $62.63 and a 200-day moving average of $58.54.
In related news, insider Jonathan J. Stevens sold 6,700 shares of the business’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $58.91, for a total transaction of $394,697.00. Following the completion of the transaction, the insider now directly owns 102,366 shares of the company’s stock, valued at approximately $6,030,381.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas E. Richards sold 15,733 shares of the business’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $63.49, for a total value of $998,888.17. Following the transaction, the insider now directly owns 747,869 shares of the company’s stock, valued at $47,482,202.81. The disclosure for this sale can be found here. Insiders have sold a total of 83,833 shares of company stock valued at $5,152,381 over the last three months. 2.20% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CDW. Catalyst Capital Advisors LLC boosted its position in CDW Corporation by 12.7% in the first quarter. Catalyst Capital Advisors LLC now owns 2,080 shares of the information technology services provider’s stock valued at $120,000 after buying an additional 235 shares during the last quarter. James Investment Research Inc. acquired a new position in CDW Corporation during the first quarter valued at about $153,000. Creative Planning boosted its position in CDW Corporation by 179.2% in the first quarter. Creative Planning now owns 3,256 shares of the information technology services provider’s stock valued at $188,000 after buying an additional 2,090 shares in the last quarter. Commerce Bank acquired a new position in CDW Corporation during the first quarter valued at about $211,000. Finally, Brown Advisory Securities LLC acquired a new position in CDW Corporation during the first quarter valued at about $212,000. 90.91% of the stock is owned by hedge funds and other institutional investors.
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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