CDW Corporation (CDW) To Go Ex-Dividend on May 22nd

CDW Corporation (NASDAQ:CDW) announced 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 yield of 2.4%. The ex-dividend date of this dividend is Friday, May 22nd.

CDW has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 10 consecutive years. CDW has a dividend payout ratio of 24.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect CDW to earn $10.87 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 23.2%.

CDW Price Performance

Shares of CDW opened at $104.56 on Wednesday. The business’s 50-day moving average is $121.61 and its two-hundred day moving average is $131.18. The company has a market capitalization of $13.36 billion, a P/E ratio of 12.72, a P/E/G ratio of 1.41 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.16. CDW has a fifty-two week low of $97.12 and a fifty-two week high of $189.28.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $2.28 earnings per share for the quarter, hitting the consensus estimate of $2.28. The company had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.48 billion. CDW had a return on equity of 49.67% and a net margin of 4.70%.The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the firm earned $2.15 EPS. Research analysts predict that CDW will post 10 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on CDW. Citigroup lowered their target price on shares of CDW from $150.00 to $123.00 and set a “neutral” rating on the stock in a research note on Friday, May 8th. Evercore reissued an “outperform” rating and issued a $180.00 target price on shares of CDW in a research note on Tuesday, January 20th. JPMorgan Chase & Co. reduced their price target on shares of CDW from $160.00 to $130.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Raymond James Financial set a $150.00 price target on shares of CDW in a research report on Wednesday, May 6th. 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 report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.14.

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.