CDW Co. (CDW) to Issue Quarterly Dividend of $0.63 on December 10th

CDW Co. (NASDAQ:CDW) announced a quarterly dividend on Thursday, November 21st,RTT News reports. Investors 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 yield of 1.40%. The ex-dividend date of this dividend is Monday, November 25th. This is a positive change 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 payout ratio of 24.6% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

CDW opened at $178.96 on Friday. The company has a market capitalization of $23.85 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 4.97 and a beta of 1.05. The firm has a 50-day moving average price of $210.32 and a 200-day moving average price of $218.74. CDW has a twelve month low of $172.95 and a twelve month high of $263.37. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CDW shares. Barclays cut their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Redburn Atlantic assumed coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective for the company. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $260.00 to $235.00 in a research note on Monday, October 28th. Finally, Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.