Analysts Have Lowered Expectations For CDW Corporation (NASDAQ:CDW) After Its Latest Results
Analysts Have Lowered Expectations For CDW Corporation (NASDAQ:CDW) After Its Latest Results
As you might know, CDW Corporation (NASDAQ:CDW) last week released its latest quarterly, and things did not turn out so great for shareholders. CDW missed analyst forecasts, with revenues of US$5.5b and statutory earnings per share (EPS) of US$2.34, falling short by 3.5% and 4.7% respectively. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.
你可能知道,CDW公司(纳斯达克股票代码:CDW)上周发布了最新的季度业绩,但对股东来说,情况并不那么好。CDW未达到分析师的预期,收入为55亿美元,法定每股收益(EPS)为2.34美元,分别下降3.5%和4.7%。对于投资者来说,这是一个重要时刻,因为他们可以在报告中追踪公司的业绩,看看专家对明年的预测,看看对该业务的预期是否有任何变化。我们认为,读者会发现分析师对明年最新(法定)财报后的预测很有趣。
Following the latest results, CDW's eleven analysts are now forecasting revenues of US$21.5b in 2025. This would be a credible 3.3% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to rise 7.5% to US$8.95. In the lead-up to this report, the analysts had been modelling revenues of US$22.7b and earnings per share (EPS) of US$9.53 in 2025. It's pretty clear that pessimism has reared its head after the latest results, leading to a weaker revenue outlook and a minor downgrade to earnings per share estimates.
根据最新业绩,CDW的11位分析师现在预测2025年的收入为215亿美元。与过去12个月相比,这将使收入增长3.3%。预计每股法定收益将增长7.5%,至8.95美元。在本报告发布之前,分析师一直在模拟2025年的收入为227亿美元,每股收益(EPS)为9.53美元。很明显,在最新业绩公布后,悲观情绪已经抬头,导致收入前景疲软,每股收益预期略有下调。
It'll come as no surprise then, to learn that the analysts have cut their price target 10% to US$224. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. The most optimistic CDW analyst has a price target of US$250 per share, while the most pessimistic values it at US$190. Still, with such a tight range of estimates, it suggeststhe analysts have a pretty good idea of what they think the company is worth.
因此,得知分析师已将目标股价下调10%至224美元也就不足为奇了。但是,固定单一价格目标可能是不明智的,因为共识目标实际上是分析师目标股价的平均值。因此,一些投资者喜欢查看估计范围,看看对公司的估值是否有任何分歧。最乐观的CDW分析师将目标股价定为每股250美元,而最悲观的分析师则将其估值为190美元。尽管如此,由于估计范围如此之窄,这表明分析师对他们认为该公司的价值有了很好的了解。
Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. It's pretty clear that there is an expectation that CDW's revenue growth will slow down substantially, with revenues to the end of 2025 expected to display 2.6% growth on an annualised basis. This is compared to a historical growth rate of 4.6% over the past five years. Compare this against other companies (with analyst forecasts) in the industry, which are in aggregate expected to see revenue growth of 7.5% annually. So it's pretty clear that, while revenue growth is expected to slow down, the wider industry is also expected to grow faster than CDW.
现在从大局来看,我们理解这些预测的方法之一是了解它们与过去的业绩和行业增长估计相比如何。很明显,预计CDW的收入增长将大幅放缓,预计到2025年底的收入按年计算将增长2.6%。相比之下,过去五年的历史增长率为4.6%。相比之下,该行业的其他公司(根据分析师的预测),后者的总体收入预计每年将增长7.5%。因此,很明显,尽管收入增长预计将放缓,但整个行业的增长速度预计也将超过CDW。
The Bottom Line
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The biggest concern is that the analysts reduced their earnings per share estimates, suggesting business headwinds could lay ahead for CDW. On the negative side, they also downgraded their revenue estimates, and forecasts imply they will perform worse than the wider industry. The consensus price target fell measurably, with the analysts seemingly not reassured by the latest results, leading to a lower estimate of CDW's future valuation.
最大的担忧是,分析师下调了每股收益预期,这表明CDW可能会面临业务不利因素。不利的一面是,他们还下调了收入预期,预测表明他们的表现将比整个行业差。共识目标股价大幅下降,分析师似乎没有对最新结果感到放心,这导致对CDW未来估值的估计降低。
Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. We have estimates - from multiple CDW analysts - going out to 2026, and you can see them free on our platform here.
考虑到这一点,我们仍然认为该业务的长期发展轨迹对于投资者来说更为重要。根据多位CDW分析师的估计,到2026年,你可以在我们的平台上免费查看。
Even so, be aware that CDW is showing 1 warning sign in our investment analysis , you should know about...
即便如此,请注意,CDW在我们的投资分析中显示了1个警告信号,您应该知道...
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。