CDW's Challenging Quarter: Missed Sales Targets, Decline Across Key Segments
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 01 2024
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Source: Benzinga
- CDW Corp Earnings Report: CDW Corp reported lower-than-expected fiscal first-quarter 2024 results with a decline in net sales and adjusted EPS missing consensus.
- Segment Performance: Net sales from Corporate, Small Business, and Public segments all declined year-over-year.
- International Operations: Net sales for CDW's U.K. and Canadian operations combined fell 6.5% year-over-year.
- Financial Metrics: Average daily sales decreased, but gross margin expanded. Adjusted operating margin slightly decreased.
- Market Outlook: CDW CFO mentioned weaker IT market conditions impacting customer spending decisions, but the company aims to exceed US IT market growth rates.
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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Current: 35.332
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Current: 35.332
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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.
