WESCO International (NYSE:WCC) Issues Earnings Results

by · The Cerbat Gem

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

WESCO International Price Performance

Shares of WESCO International stock opened at $188.17 on Friday. The firm has a market cap of $9.25 billion, a PE ratio of 15.07, a P/E/G ratio of 1.59 and a beta of 2.01. WESCO International has a twelve month low of $131.38 and a twelve month high of $195.99. The company has a quick ratio of 1.34, a current ratio of 2.21 and a debt-to-equity ratio of 0.99. The business has a 50-day moving average price of $168.15 and a 200 day moving average price of $167.47.

WESCO International Announces Dividend

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

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on WCC shares. Robert W. Baird upped their target price on WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a research report on Friday. Stephens reaffirmed an “overweight” rating and issued a $190.00 price objective on shares of WESCO International in a report on Monday, August 5th. Loop Capital raised their target price on shares of WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Oppenheimer upped their price target on shares of WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a report on Friday. Finally, Baird R W raised WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, WESCO International currently has an average rating of “Moderate Buy” and an average price target of $206.71.

Get Our Latest Report on WESCO International

WESCO International Company Profile

(Get Free Report)

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).

Further Reading