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

CDW Co. (NASDAQ:CDW) – Stock analysts at Zacks Research dropped their FY2024 earnings per share (EPS) estimates for CDW in a note issued to investors on Wednesday, November 20th. Zacks Research analyst R. Department now forecasts 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 $8.99 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.

CDW (NASDAQ:CDW) last released its quarterly earnings data 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). CDW had a return on equity of 58.31% and a net margin of 5.33%. The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same quarter in the prior year, the company earned $2.60 earnings per share. CDW’s revenue for the quarter was down 2.0% compared to the same quarter last year.

A number of other equities analysts have also commented on CDW. Barclays cut their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. cut 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 note on Monday, October 28th. Citigroup lowered CDW from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Finally, Redburn Atlantic initiated coverage on shares of CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, CDW has a consensus rating of “Moderate Buy” and a consensus price target of $244.63.

CDW Price Performance

CDW stock opened at $181.34 on Monday. The stock has a 50-day moving average price of $209.49 and a two-hundred day moving average price of $218.42. CDW has a 12 month low of $172.95 and a 12 month high of $263.37. The company has a market capitalization of $24.17 billion, a PE ratio of 22.17, a P/E/G ratio of 5.03 and a beta of 1.05. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a $0.625 dividend. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Monday, November 25th. CDW’s payout ratio is presently 30.56%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Peak Financial Advisors LLC acquired a new position in shares of CDW during the second quarter worth approximately $2,854,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in CDW during the 3rd quarter valued at $12,761,000. Virtu Financial LLC raised its holdings in CDW by 175.9% during the first quarter. Virtu Financial LLC now owns 7,115 shares of the information technology services provider’s stock worth $1,820,000 after buying an additional 4,536 shares during the last quarter. Raymond James & Associates lifted its stake in shares of CDW by 16.6% in the second quarter. Raymond James & Associates now owns 139,711 shares of the information technology services provider’s stock valued at $31,273,000 after buying an additional 19,867 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of CDW by 12.8% during the third quarter. Thrivent Financial for Lutherans now owns 599,900 shares of the information technology services provider’s stock valued at $135,758,000 after buying an additional 68,023 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.