CDW (NASDAQ:CDW) Releases Earnings Results, Beats Estimates By $0.07 EPS

CDW (NASDAQ:CDW) posted its quarterly earnings data on Wednesday. The information technology services provider reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07, Zacks reports. CDW had a net margin of 5.33% and a return on equity of 58.31%.

CDW Stock Up 4.0 %

CDW stock traded up $8.02 during midday trading on Wednesday, reaching $207.36. 1,217,913 shares of the company’s stock traded hands, compared to its average volume of 1,319,991. CDW has a 52 week low of $168.43 and a 52 week high of $263.37. The company has a market cap of $27.63 billion, a price-to-earnings ratio of 25.33, a P/E/G ratio of 5.39 and a beta of 1.01. The firm’s fifty day moving average price is $182.49 and its 200-day moving average price is $202.62. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.21%. CDW’s payout ratio is currently 30.56%.

Analysts Set New Price Targets

A number of brokerages have commented on CDW. Morgan Stanley upped their price target on shares of CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. Barclays cut their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Redburn Atlantic started coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price for the company. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Finally, UBS Group lowered their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $239.33.

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.