Zacks Research Forecasts CDW’s FY2024 Earnings (NASDAQ:CDW)

CDW Co. (NASDAQ:CDW) – Analysts at Zacks Research dropped their FY2024 earnings estimates for CDW in a research report issued on Wednesday, November 20th. Zacks Research analyst R. Department now anticipates that the information technology services provider will post earnings per share of $9.03 for the year, down from their previous estimate 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.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $250.00 to $245.00 in a research note 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 on the stock. Finally, Barclays cut their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $244.63.

CDW Stock Performance

Shares of CDW stock opened at $178.96 on Monday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The business’s 50 day moving average price is $209.49 and its 200 day moving average price is $218.42. The company has a market cap of $23.85 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 4.97 and a beta of 1.05. CDW has a one year low of $172.95 and a one year high of $263.37.

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

CDW Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th will be issued a $0.625 dividend. This is a boost from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.40%. CDW’s dividend payout ratio is presently 30.32%.

Institutional Trading of CDW

A number of large investors have recently bought and sold shares of the business. State Street Corp increased its holdings 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 valued at $1,294,288,000 after purchasing an additional 64,702 shares during the period. Geode Capital Management LLC lifted its holdings in CDW by 0.9% in the third 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 acquiring an additional 31,858 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in CDW during the third quarter worth about $416,111,000. Janus Henderson Group PLC boosted its stake in shares of CDW by 7,029.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after acquiring an additional 1,446,025 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in CDW by 11.0% in the 2nd 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 acquiring an additional 128,263 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

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.