CDW Corporation (NASDAQ:CDW) to Issue Quarterly Dividend of $0.63
by Teresa Graham · The Cerbat GemCDW Corporation (NASDAQ:CDW – Get Free Report) declared a quarterly dividend on Wednesday, May 6th. Shareholders of record on Monday, May 25th will be paid a dividend of 0.63 per share by the information technology services provider on Wednesday, June 10th. This represents a c) annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, May 22nd.
CDW has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 10 consecutive years. CDW has a dividend payout ratio of 24.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect CDW to earn $10.78 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 23.4%.
CDW Trading Down 20.3%
Shares of NASDAQ:CDW traded down $27.80 during trading hours on Wednesday, hitting $109.00. 6,321,308 shares of the company’s stock traded hands, compared to its average volume of 1,721,410. CDW has a 1 year low of $106.00 and a 1 year high of $192.30. The business has a fifty day moving average price of $125.61 and a 200-day moving average price of $134.85. The firm has a market capitalization of $13.95 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 1.86 and a beta of 1.04. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.18 and a quick ratio of 1.10.
CDW (NASDAQ:CDW – Get Free Report) last announced its earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.28. CDW had a return on equity of 50.66% and a net margin of 4.76%.The business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same quarter in the previous year, the business earned $2.15 earnings per share. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. Equities analysts expect that CDW will post 10.01 earnings per share for the current year.
Analysts Set New Price Targets
Several research analysts have issued reports on the company. Raymond James Financial set a $150.00 target price on CDW in a research report on Wednesday. JPMorgan Chase & Co. dropped their target price on CDW from $170.00 to $160.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. UBS Group dropped their target price on CDW from $190.00 to $162.00 and set a “buy” rating for the company in a research report on Thursday, February 5th. Barclays decreased their price target on shares of CDW from $148.00 to $144.00 and set an “equal weight” rating for the company in a research note on Thursday, February 5th. Finally, Morgan Stanley lifted their price target on shares of CDW from $141.00 to $142.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, CDW has an average rating of “Moderate Buy” and a consensus target price of $155.43.
CDW Company Profile
CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.
CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.