Report
EUR 16.92 For Business Accounts Only

CDW: Cloud Momentum Continues with an 11-Cent Beat; Raising Estimates

GRADUALLY ACCUMULATE

 

  • 2Q18 (June) adjusted EPS was $1.38 (vs $1.03 last year), up 35% YoY and 11 cents above our estimate on better-than-anticipated margins;
  • Given the 2Q outperformance and strength from a continued customer hardware refresh cycle as well as momentum in CDW’s cloud offerings, our 2018 EPS estimate is now $5.05 (from $4.90 previously), up 32% from 2017, helped by a 26% tax rate (vs 37% in 2017);
  • Our 2019 EPS estimate now at least $5.57 (from $5.42), up 10% from our 2018 projection.
Provider
Great Lakes Review, a division of Wellington Shields & Co. LLC
Great Lakes Review, a division of Wellington Shields & Co. LLC

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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Great Lakes Review

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