CDW (NASDAQ:CDW) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

CDW (NASDAQ:CDW) released its earnings results on Wednesday. The information technology services provider reported $2.40 earnings per share for the quarter, beating the consensus estimate 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 Price Performance

NASDAQ CDW traded up $7.11 during midday trading on Wednesday, hitting $206.45. The company had a trading volume of 1,048,248 shares, compared to its average volume of 1,319,991. The firm has a 50-day moving average price of $182.49 and a 200-day moving average price of $202.62. The company has a market capitalization of $27.51 billion, a PE ratio of 25.28, a P/E/G ratio of 5.39 and a beta of 1.01. 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 has a twelve month low of $168.43 and a twelve month high of $263.37.

CDW Dividend Announcement

The business 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 dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.21%. CDW’s dividend payout ratio is currently 30.56%.

Wall Street Analyst Weigh In

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