CDW Shares Dip As Q3 Sales Miss Amid Weak Hardware Demand And Customer Delays
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 30 2024
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Source: Benzinga
CDW Corporation Financial Results: CDW reported a 2% decline in net sales for Q3 FY2024, totaling $5.517 billion, which fell short of expectations. The Corporate segment saw a 4.4% decrease, while the Public segment dropped by 5.1%, attributed to reduced sales to Government and Education customers.
Dividend Announcement and Stock Performance: Despite the disappointing results, CDW raised its quarterly cash dividend by 1% to $0.625 per share. However, shares fell nearly 10% to $197.93 following the earnings report, with CFO citing economic uncertainty as a factor in project delays.
Analyst Views on AMID
Wall Street analysts forecast AMID stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AMID is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
