CDW Co. (NASDAQ:CDW) to Issue Quarterly Dividend of $0.63

CDW Co. (NASDAQ:CDW) announced a quarterly dividend on Saturday, November 23rd,RTT News reports. Shareholders of record on Monday, November 25th will be paid a dividend of 0.625 per share by the information technology services provider on Tuesday, December 10th. This represents a $2.50 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62.

CDW has raised its dividend payment by an average of 15.8% per year over the last three years. CDW has a dividend payout ratio of 24.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CDW to earn $9.61 per share next year, which means the company should continue to be able to cover its $2.50 annual dividend with an expected future payout ratio of 26.0%.

CDW Trading Up 0.4 %

NASDAQ:CDW opened at $178.96 on Friday. The business’s 50-day simple moving average is $209.49 and its 200-day simple moving average is $218.45. CDW has a fifty-two week low of $172.95 and a fifty-two week high of $263.37. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The stock has a market capitalization of $23.85 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 4.97 and a beta of 1.05.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The company had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the previous year, the firm posted $2.60 EPS. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. Sell-side analysts expect that CDW will post 9.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CDW has been the subject of a number of research reports. Redburn Atlantic started coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 target price for the company. JPMorgan Chase & Co. lowered CDW from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $260.00 to $235.00 in a research report on Monday, October 28th. Barclays reduced their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.63.

About CDW

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.