Analysts Expect WESCO International, Inc. (NYSE:WCC) Will Announce Quarterly Sales of $4.61 Billion

Brokerages predict that WESCO International, Inc. (NYSE:WCC) will report sales of $4.61 billion for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for WESCO International’s earnings. The lowest sales estimate is $4.44 billion and the highest is $4.70 billion. WESCO International reported sales of $4.14 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 11.4%. The business is scheduled to announce its next earnings report on Thursday, November 4th.

According to Zacks, analysts expect that WESCO International will report full-year sales of $17.85 billion for the current financial year, with estimates ranging from $17.72 billion to $17.95 billion. For the next fiscal year, analysts forecast that the firm will report sales of $18.38 billion, with estimates ranging from $17.80 billion to $18.65 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover WESCO International.

WESCO International (NYSE:WCC) last announced its quarterly earnings results on Thursday, August 5th. The technology company reported $2.64 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.67. The firm had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.36 billion. WESCO International had a net margin of 1.65% and a return on equity of 12.32%. The company’s revenue was up 120.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 EPS.

Several research analysts have recently weighed in on the stock. Loop Capital initiated coverage on shares of WESCO International in a research report on Tuesday, August 3rd. They set a “buy” rating and a $125.00 price target on the stock. Wells Fargo & Company boosted their price objective on shares of WESCO International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Friday, August 6th. KeyCorp boosted their price objective on shares of WESCO International from $125.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, August 24th. Raymond James boosted their price objective on shares of WESCO International from $120.00 to $130.00 and gave the company a “strong-buy” rating in a report on Monday, August 2nd. Finally, TheStreet upgraded shares of WESCO International from a “c+” rating to a “b-” rating in a report on Tuesday, June 8th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $113.88.

In related news, EVP James Cameron sold 999 shares of the company’s stock in a transaction that occurred on Thursday, August 12th. The shares were sold at an average price of $119.59, for a total transaction of $119,470.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nelson John Squires III sold 3,891 shares of the company’s stock in a transaction that occurred on Monday, September 13th. The shares were sold at an average price of $111.97, for a total value of $435,675.27. Following the completion of the transaction, the executive vice president now directly owns 27,803 shares of the company’s stock, valued at $3,113,101.91. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of WESCO International by 1.9% in the second quarter. Geode Capital Management LLC now owns 763,425 shares of the technology company’s stock valued at $78,495,000 after acquiring an additional 14,602 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of WESCO International by 9.8% in the second quarter. Bank of New York Mellon Corp now owns 616,855 shares of the technology company’s stock valued at $63,425,000 after acquiring an additional 54,855 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of WESCO International by 5.0% in the second quarter. Russell Investments Group Ltd. now owns 237,875 shares of the technology company’s stock valued at $24,452,000 after acquiring an additional 11,345 shares during the period. Snow Capital Management LP lifted its holdings in shares of WESCO International by 3.8% during the second quarter. Snow Capital Management LP now owns 233,419 shares of the technology company’s stock worth $24,000,000 after purchasing an additional 8,522 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of WESCO International by 58.9% during the first quarter. BNP Paribas Arbitrage SA now owns 155,320 shares of the technology company’s stock worth $13,440,000 after purchasing an additional 57,575 shares during the period. 92.02% of the stock is owned by institutional investors and hedge funds.

Shares of WCC stock traded down $1.17 on Friday, hitting $113.83. 752,958 shares of the stock traded hands, compared to its average volume of 383,967. The firm’s 50-day moving average price is $110.10 and its two-hundred day moving average price is $101.31. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.08 and a current ratio of 1.82. The stock has a market capitalization of $5.73 billion, a PE ratio of 26.34, a PEG ratio of 1.33 and a beta of 2.47. WESCO International has a twelve month low of $39.45 and a twelve month high of $121.19.

WESCO International Company Profile

WESCO International, Inc is a holding company, which engages in the provision of electrical, industrial, and communications maintenance, repair & operating and original equipment manufacturers products. It also offers construction materials, and supply chain management and logistics services. Its product categories include general supplies, wire, cable & conduit, communications & security, electrical distribution and controls, lighting & sustainability and automation, controls & motors.

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Earnings History and Estimates for WESCO International (NYSE:WCC)

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