What is Zacks Research’s Forecast for CDW FY2024 Earnings?

CDW Co. (NASDAQ:CDW) – Zacks Research decreased their FY2024 earnings per share (EPS) estimates for shares of CDW in a report released on Wednesday, November 20th. Zacks Research analyst R. Department now anticipates that the information technology services provider will post earnings of $9.03 per share for the year, down from their prior forecast of $9.42. The consensus estimate for CDW’s current full-year earnings is $9.05 per share. Zacks Research also issued estimates for CDW’s Q4 2024 earnings at $2.26 EPS, Q1 2025 earnings at $1.98 EPS, Q3 2025 earnings at $2.66 EPS, Q4 2025 earnings at $2.21 EPS, FY2025 earnings at $9.38 EPS, Q1 2026 earnings at $2.26 EPS, Q2 2026 earnings at $2.87 EPS, Q3 2026 earnings at $2.96 EPS and FY2026 earnings at $10.51 EPS.

Several other analysts have also recently issued reports on the company. Barclays dropped their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Citigroup downgraded CDW from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. Redburn Atlantic assumed coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price for the company. Finally, JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, CDW currently has a consensus rating of “Moderate Buy” and an average target price of $244.63.

CDW Stock Up 0.4 %

NASDAQ:CDW opened at $178.96 on Monday. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. CDW has a 1-year low of $172.95 and a 1-year high of $263.37. The company has a 50-day moving average of $209.49 and a 200 day moving average of $218.42. The firm has a market cap of $23.85 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 4.97 and a beta of 1.05.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.60 EPS.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be given a dividend of $0.625 per share. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Monday, November 25th. CDW’s dividend payout ratio (DPR) is currently 30.32%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CDW. State Street Corp raised its position in shares of CDW by 1.1% in the third quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock worth $1,294,288,000 after acquiring an additional 64,702 shares during the period. Geode Capital Management LLC increased its stake in shares of CDW by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock valued at $785,635,000 after purchasing an additional 31,858 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in CDW in the 3rd quarter worth about $416,111,000. Janus Henderson Group PLC boosted its position in CDW by 7,029.1% during the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after purchasing an additional 1,446,025 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in CDW by 11.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock valued at $289,357,000 after purchasing an additional 128,263 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

CDW Company Profile

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.