CDW Co. (NASDAQ:CDW) Plans Quarterly Dividend of $0.63

CDW Co. (NASDAQ:CDW) declared a quarterly dividend on Wednesday, October 30th, RTT News reports. Stockholders of record on Monday, November 25th will be paid a dividend of 0.625 per share by the information technology services provider on Tuesday, December 10th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62.

CDW has raised its dividend payment by an average of 15.8% annually over the last three years. CDW has a payout ratio of 22.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CDW to earn $10.25 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 24.2%.

CDW Stock Down 11.3 %

Shares of CDW stock opened at $195.06 on Thursday. CDW has a 12-month low of $185.04 and a 12-month high of $263.37. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. The stock has a 50 day moving average price of $221.46 and a two-hundred day moving average price of $224.17. The stock has a market capitalization of $26.22 billion, a P/E ratio of 24.35, a PEG ratio of 3.42 and a beta of 1.03.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.05). The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.43 billion. CDW had a return on equity of 62.22% and a net margin of 5.29%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.43 EPS. Equities analysts expect that CDW will post 9.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CDW has been the topic of several research analyst reports. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $260.00 to $235.00 in a research note on Monday. Barclays cut their target price on CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Stifel Nicolaus raised their target price on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and lowered their price target for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $250.71.

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.