4Q17 EPS Beats by a Penny; Raising 2018 Estimate on a Lower Tax Rate
- 4Q17 (Dec) adjusted EPS were $0.99 (vs $0.86 last year), 1 cent above our estimate;
- EPS in 2017 rose 12% to $3.83 per share (vs the record $3.43 in 2016);
- Our 2018 EPS estimate is now $4.73 (from $4.35 previously) due to new U.S. tax law, up 23% from 2017;
- Our 2019 EPS estimate is being introduced at $5.25, up 11% from our 2018 projection.
CDW, through its subsidiaries, is a provider of integrated information technology solutions in the U.S., U.K. and Canada. The company's hardware products include notebooks/mobile devices (including tablets), network communications, desktop computers, video monitors, enterprise and data storage, printers and servers. The company's software products include application suites, security, virtualization, operating systems and network management. The company's services include warranties, managed services, consulting design and implementation. The company also provides public cloud solutions which reside off customer premises on a public (shared) infrastructure, and private cloud solutions, which reside on customer premises.
Great Lakes Review is located in Cleveland, Ohio, was founded in 1981 and became a division of Wellington Shields & Co. LLC in 2011. Great Lakes Review is a research boutique focused on the fundamentally-oriented investor seeking companies that dominate their respective specialty niche regardless of industry. The objective is to make money for the long-term by gradually accumulating a diversified portfolio from a universe of no more than 30 companies. Although short-term-oriented accounts will be alerted to trading opportunities, aggressive sell recommendations are triggered only by a deterioration in long-term fundamentals, not by short-term blips or investor fancy. Coverage of those names that lose their earnings momentum or earnings predictability may be dropped and replaced with more vital candidates.
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