WESCO International (NYSE:WCC) Announces Quarterly Earnings Results

WESCO International (NYSE:WCC) posted its quarterly earnings data on Thursday. The technology company reported $3.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.36, Briefing.com reports. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter in the previous year, the firm posted $4.49 EPS. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year.

WESCO International Stock Performance

NYSE WCC opened at $188.17 on Friday. The firm’s fifty day moving average price is $168.15 and its two-hundred day moving average price is $167.47. The stock has a market cap of $9.25 billion, a PE ratio of 15.07, a PEG ratio of 1.59 and a beta of 2.01. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.34 and a current ratio of 2.21. WESCO International has a fifty-two week low of $131.38 and a fifty-two week high of $195.99.

WESCO International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a $0.4125 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.65 dividend on an annualized basis and a yield of 0.88%. WESCO International’s dividend payout ratio is currently 13.21%.

Insider Buying and Selling

In other WESCO International news, Director Steven A. Raymund sold 5,819 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $171.56, for a total value of $998,307.64. Following the completion of the transaction, the director now directly owns 27,004 shares in the company, valued at approximately $4,632,806.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Nelson John Squires III sold 10,000 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $190.00, for a total value of $1,900,000.00. Following the sale, the executive vice president now owns 54,621 shares of the company’s stock, valued at $10,377,990. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven A. Raymund sold 5,819 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $171.56, for a total value of $998,307.64. Following the completion of the sale, the director now owns 27,004 shares of the company’s stock, valued at $4,632,806.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

WCC has been the subject of several recent research reports. Robert W. Baird boosted their price target on WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a research note on Friday. KeyCorp upped their target price on WESCO International from $195.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday. Royal Bank of Canada raised their price target on WESCO International from $186.00 to $199.00 and gave the stock a “sector perform” rating in a research report on Friday. Stephens reaffirmed an “overweight” rating and set a $190.00 price objective on shares of WESCO International in a research report on Monday, August 5th. Finally, Oppenheimer raised their target price on shares of WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $206.71.

WESCO International Company Profile

WESCO International, Inc provides business-to-business distribution, logistics services, and supply chain solutions in the United States, Canada, and internationally. It operates through three segments: Electrical & Electronic Solutions (EES), Communications & Security Solutions (CSS), and Utility and Broadband Solutions (UBS).