CDW (NASDAQ:CDW) Expected to Announce Quarterly Sales of $4.49 Billion

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Analysts forecast that CDW (NASDAQ:CDW) will announce sales of $4.49 billion for the current quarter, Zacks reports. Six analysts have provided estimates for CDW’s earnings. The highest sales estimate is $4.53 billion and the lowest is $4.46 billion. CDW reported sales of $4.19 billion during the same quarter last year, which would suggest a positive year over year growth rate of 7.2%. The firm is expected to report its next earnings results on Thursday, August 1st.

On average, analysts expect that CDW will report full year sales of $17.44 billion for the current fiscal year, with estimates ranging from $17.34 billion to $17.60 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $18.38 billion, with estimates ranging from $18.22 billion to $18.70 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover CDW.

CDW (NASDAQ:CDW) last released its earnings results on Wednesday, May 1st. The information technology services provider reported $1.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.13. The firm had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.77 billion. CDW had a return on equity of 77.94% and a net margin of 4.03%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.05 earnings per share.

Several brokerages have commented on CDW. Zacks Investment Research lowered GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Credit Suisse Group upped their price target on Delta Air Lines from $37.00 to $68.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. BidaskClub upgraded Zillow Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 2nd. Northcoast Research restated a “buy” rating on shares of MarineMax in a research note on Friday, April 26th. Finally, Stifel Nicolaus set a $80.00 price target on CSX and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $107.75.

NASDAQ:CDW traded down $0.88 on Friday, hitting $113.48. 598,046 shares of the stock were exchanged, compared to its average volume of 790,162. The stock has a market capitalization of $16.93 billion, a PE ratio of 22.25 and a beta of 1.11. The company has a debt-to-equity ratio of 3.61, a quick ratio of 1.10 and a current ratio of 1.29. The business has a fifty day moving average of $108.14. CDW has a fifty-two week low of $74.32 and a fifty-two week high of $116.47.

In other CDW news, insider Thomas E. Richards sold 66,667 shares of CDW stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $99.67, for a total value of $6,644,699.89. Following the completion of the transaction, the insider now directly owns 644,443 shares of the company’s stock, valued at approximately $64,231,633.81. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Collin B. Kebo sold 3,600 shares of CDW stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $106.28, for a total value of $382,608.00. Following the completion of the transaction, the insider now directly owns 22,352 shares of the company’s stock, valued at $2,375,570.56. The disclosure for this sale can be found here. Insiders have sold 139,534 shares of company stock valued at $14,332,814 over the last 90 days. 2.25% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commonwealth Bank of Australia increased its stake in CDW by 0.6% in the first quarter. Commonwealth Bank of Australia now owns 15,888 shares of the information technology services provider’s stock valued at $1,526,000 after acquiring an additional 100 shares during the last quarter. First National Bank of Omaha lifted its holdings in shares of CDW by 0.3% during the second quarter. First National Bank of Omaha now owns 50,460 shares of the information technology services provider’s stock worth $5,601,000 after purchasing an additional 130 shares during the period. Raymond James Trust N.A. lifted its holdings in shares of CDW by 3.3% during the second quarter. Raymond James Trust N.A. now owns 4,372 shares of the information technology services provider’s stock worth $485,000 after purchasing an additional 138 shares during the period. Commonwealth Equity Services LLC lifted its holdings in CDW by 3.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 4,903 shares of the information technology services provider’s stock valued at $397,000 after buying an additional 143 shares during the period. Finally, First Hawaiian Bank lifted its holdings in CDW by 0.8% in the first quarter. First Hawaiian Bank now owns 19,642 shares of the information technology services provider’s stock valued at $1,893,000 after buying an additional 158 shares during the period. 91.26% of the stock is owned by institutional investors.

About CDW

CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers in the United States, Canada, and the United Kingdom. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.

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