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

CDW Co. (NASDAQ:CDW) – Equities researchers at Zacks Research reduced their FY2024 EPS estimates for CDW in a research note issued on Wednesday, November 20th. Zacks Research analyst R. Department now anticipates that the information technology services provider will earn $9.03 per share for the year, down from their previous 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 issued 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 firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the previous year, the company posted $2.60 earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis.

Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. 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. Redburn Atlantic started coverage on shares of CDW in a research report on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. Finally, Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $250.00 to $245.00 in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $244.63.

CDW Stock Performance

CDW stock opened at $181.34 on Monday. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. The firm has a market cap 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 business has a 50 day moving average of $209.49 and a 200-day moving average of $218.42. CDW has a 12-month low of $172.95 and a 12-month high of $263.37.

Institutional Trading of CDW

Several hedge funds and other institutional investors have recently modified their holdings of CDW. State Street Corp lifted its holdings in CDW by 1.1% during the 3rd quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock worth $1,294,288,000 after purchasing an additional 64,702 shares in the last quarter. Geode Capital Management LLC increased its position in shares of CDW by 0.9% during 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 buying an additional 31,858 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in shares of CDW in the third quarter worth about $416,111,000. Janus Henderson Group PLC boosted its position in shares of CDW by 7,029.1% in the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after acquiring an additional 1,446,025 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in CDW by 11.0% during the second 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 in the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 25th will be paid a $0.625 dividend. This is a boost 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 is Monday, November 25th. CDW’s payout ratio is currently 30.56%.

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.