WESCO International (NYSE:WCC) Issues Earnings Results

WESCO International (NYSE:WCC) posted its quarterly earnings data on Thursday. The technology company reported $2.30 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.13), Briefing.com reports. WESCO International had a net margin of 3.42% and a return on equity of 17.01%. The company had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same quarter in the previous year, the business posted $3.75 EPS. The company’s revenue was down 3.1% compared to the same quarter last year. WESCO International updated its FY24 guidance to $13.75-15.75 EPS.

WESCO International Trading Up 1.6 %

Shares of WCC stock traded up $2.62 on Friday, reaching $167.70. The company had a trading volume of 754,877 shares, compared to its average volume of 609,629. The stock has a market cap of $8.54 billion, a PE ratio of 12.39, a PEG ratio of 1.09 and a beta of 2.07. The company has a 50-day moving average of $160.82 and a 200-day moving average of $159.55. The company has a current ratio of 2.48, a quick ratio of 1.42 and a debt-to-equity ratio of 1.06. WESCO International has a 12 month low of $121.90 and a 12 month high of $195.43.

WESCO International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.4125 per share. This is a positive change from WESCO International’s previous quarterly dividend of $0.38. This represents a $1.65 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Thursday, March 14th. WESCO International’s payout ratio is presently 12.19%.

Insider Activity at WESCO International

In other WESCO International news, EVP James Cameron sold 5,352 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $156.39, for a total value of $836,999.28. Following the completion of the sale, the executive vice president now owns 33,595 shares of the company’s stock, valued at $5,253,922.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Nelson John Squires III sold 3,490 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $190.00, for a total transaction of $663,100.00. Following the sale, the executive vice president now owns 54,385 shares of the company’s stock, valued at $10,333,150. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP James Cameron sold 5,352 shares of WESCO International stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $156.39, for a total value of $836,999.28. Following the transaction, the executive vice president now owns 33,595 shares in the company, valued at approximately $5,253,922.05. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

WCC has been the subject of a number of research reports. Royal Bank of Canada lowered their price target on shares of WESCO International from $176.00 to $172.00 and set a “sector perform” rating for the company in a report on Friday. Oppenheimer lifted their target price on WESCO International from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday. Robert W. Baird decreased their price target on WESCO International from $203.00 to $170.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. KeyCorp boosted their price objective on WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday. Finally, JPMorgan Chase & Co. reduced their target price on shares of WESCO International from $180.00 to $175.00 and set an “overweight” rating on the stock in a research note on Friday, March 15th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $188.67.

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).