CDW (CDW) Set to Announce Quarterly Earnings on Wednesday

CDW (NASDAQ:CDW) will post its quarterly earnings results before the market opens on Wednesday, May 1st. Analysts expect CDW to post earnings of $2.04 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.01. CDW had a net margin of 5.17% and a return on equity of 73.93%. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period last year, the business earned $2.40 earnings per share. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, analysts expect CDW to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

CDW Stock Performance

Shares of CDW stock opened at $242.26 on Monday. CDW has a one year low of $162.59 and a one year high of $263.37. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23. The firm’s 50 day moving average price is $247.25 and its 200-day moving average price is $228.67. The firm has a market cap of $32.55 billion, a P/E ratio of 29.91, a P/E/G ratio of 2.74 and a beta of 1.09.

CDW Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $2.48 annualized dividend and a dividend yield of 1.02%. CDW’s dividend payout ratio is currently 30.62%.

CDW announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 7th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Evercore ISI raised their target price on CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Barclays raised their price objective on shares of CDW from $219.00 to $261.00 and gave the company an “equal weight” rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. upped their target price on shares of CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Citigroup increased their target price on shares of CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $242.67.

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.