CDW (NASDAQ:CDW) Announces Earnings Results, Misses Expectations By $0.05 EPS

CDW (NASDAQ:CDW) posted its earnings results on Wednesday. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.05), Zacks reports. The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.43 billion. CDW had a return on equity of 67.56% and a net margin of 5.16%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.43 earnings per share.

CDW Trading Down 2.1 %

Shares of NASDAQ:CDW traded down $4.52 on Thursday, reaching $213.59. 1,591,826 shares of the company traded hands, compared to its average volume of 807,250. CDW has a 52 week low of $185.04 and a 52 week high of $263.37. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35. The business’s 50-day simple moving average is $226.07 and its 200 day simple moving average is $234.34. The stock has a market capitalization of $28.71 billion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 3.45 and a beta of 1.04.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th will be given a dividend of $0.62 per share. The ex-dividend date is Monday, August 26th. This represents a $2.48 annualized dividend and a yield of 1.16%. CDW’s payout ratio is 30.96%.

Insider Activity at CDW

In other news, insider Sona Chawla sold 18,437 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total value of $4,433,176.65. Following the transaction, the insider now owns 22,428 shares in the company, valued at $5,392,812.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their price objective on CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Barclays cut their price objective on CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a report on Thursday. Northcoast Research raised shares of CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price on the stock in a research note on Friday, June 7th. Citigroup cut their price target on shares of CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Finally, Stifel Nicolaus raised their price objective on shares of CDW from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $250.78.

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.