Equities research analysts forecast that WESCO International, Inc. (NYSE:WCC) will announce $1.36 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for WESCO International’s earnings. The lowest EPS estimate is $1.32 and the highest is $1.40. WESCO International reported earnings per share of $1.12 during the same quarter last year, which would suggest a positive year-over-year growth rate of 21.4%. The firm is scheduled to announce its next earnings results on Thursday, October 25th.
On average, analysts expect that WESCO International will report full year earnings of $4.77 per share for the current fiscal year, with EPS estimates ranging from $4.70 to $4.85. For the next year, analysts anticipate that the company will post earnings of $5.38 per share, with EPS estimates ranging from $5.15 to $5.65. Zacks’ earnings per share averages are an average based on a survey of analysts that follow WESCO International.
WESCO International (NYSE:WCC) last announced its quarterly earnings data on Thursday, August 2nd. The technology company reported $1.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($0.01). WESCO International had a net margin of 2.21% and a return on equity of 9.62%. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the prior year, the firm posted $1.02 EPS. WESCO International’s revenue for the quarter was up 10.2% compared to the same quarter last year.
A number of brokerages have weighed in on WCC. UBS Group lifted their price objective on WESCO International from $68.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, August 30th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $66.00 price objective on shares of WESCO International in a report on Friday, August 3rd. ValuEngine raised WESCO International from a “sell” rating to a “hold” rating in a report on Monday, July 30th. Zacks Investment Research raised WESCO International from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Saturday, June 30th. Finally, KeyCorp reaffirmed an “equal weight” rating on shares of WESCO International in a report on Friday, June 29th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $68.25.
In other news, SVP Christine Ann Wolf purchased 1,690 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The shares were acquired at an average price of $59.20 per share, with a total value of $100,048.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lynn M. Utter sold 1,327 shares of the business’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $61.71, for a total value of $81,889.17. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of WCC. Element Capital Management LLC acquired a new position in shares of WESCO International during the 1st quarter worth approximately $214,000. SG Americas Securities LLC raised its position in shares of WESCO International by 66.4% during the 2nd quarter. SG Americas Securities LLC now owns 4,398 shares of the technology company’s stock worth $251,000 after purchasing an additional 1,755 shares during the last quarter. Ffcm LLC raised its position in shares of WESCO International by 1,811.0% during the 1st quarter. Ffcm LLC now owns 4,185 shares of the technology company’s stock worth $260,000 after purchasing an additional 3,966 shares during the last quarter. New York State Teachers Retirement System acquired a new position in shares of WESCO International during the 1st quarter worth approximately $261,000. Finally, Victory Capital Management Inc. acquired a new position in shares of WESCO International during the 1st quarter worth approximately $304,000. Hedge funds and other institutional investors own 98.44% of the company’s stock.
WCC traded down $0.15 during trading on Friday, reaching $60.55. The company’s stock had a trading volume of 6,110 shares, compared to its average volume of 308,722. WESCO International has a 52-week low of $49.35 and a 52-week high of $69.35. The firm has a market capitalization of $2.88 billion, a PE ratio of 15.41, a P/E/G ratio of 1.28 and a beta of 1.83. The company has a current ratio of 2.39, a quick ratio of 1.47 and a debt-to-equity ratio of 0.58.
WESCO International Company Profile
WESCO International, Inc distributes electrical, industrial, and communications maintenance, repair and operating (MRO) and original equipment manufacturers products and construction materials in North America and internationally. The company sells general supplies, such as wiring devices, fuses, terminals, connectors, boxes, enclosures, fittings, lugs, terminations, wraps, splicing and marking equipment, tools and testers, safety, personal protection, sealants, cutting tools, adhesives, consumables, fasteners, janitorial, and other MRO supplies.
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