KeyCorp Cuts WESCO International (NYSE:WCC) Price Target to $205.00

WESCO International (NYSE:WCC) had its price target reduced by KeyCorp from $245.00 to $205.00 in a report released on Monday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other research analysts also recently weighed in on WCC. StockNews.com downgraded shares of WESCO International from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Royal Bank of Canada lifted their target price on shares of WESCO International from $212.00 to $213.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. Stephens lifted their target price on shares of WESCO International from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Finally, Jefferies Financial Group lifted their target price on shares of WESCO International from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $219.43.

WESCO International Stock Performance

Shares of WCC opened at $166.05 on Monday. The firm’s 50 day moving average is $181.81 and its 200-day moving average is $182.33. The stock has a market capitalization of $8.10 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.45 and a beta of 2.00. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.20 and a quick ratio of 1.27. WESCO International has a 12-month low of $143.06 and a 12-month high of $216.17.

WESCO International (NYSE:WCC) last announced its quarterly earnings data on Tuesday, February 11th. The technology company reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.23 by ($0.07). WESCO International had a return on equity of 13.63% and a net margin of 3.29%. Equities research analysts anticipate that WESCO International will post 13.3 EPS for the current fiscal year.

WESCO International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.4538 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from WESCO International’s previous quarterly dividend of $0.41. This represents a $1.82 dividend on an annualized basis and a yield of 1.09%. WESCO International’s payout ratio is 13.85%.

Institutional Trading of WESCO International

A number of institutional investors have recently added to or reduced their stakes in WCC. V Square Quantitative Management LLC lifted its stake in shares of WESCO International by 39.9% in the fourth quarter. V Square Quantitative Management LLC now owns 235 shares of the technology company’s stock worth $43,000 after buying an additional 67 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in WESCO International by 43.5% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 267 shares of the technology company’s stock valued at $48,000 after buying an additional 81 shares during the period. GAMMA Investing LLC increased its holdings in WESCO International by 25.0% in the 4th quarter. GAMMA Investing LLC now owns 375 shares of the technology company’s stock valued at $68,000 after buying an additional 75 shares during the period. Millstone Evans Group LLC bought a new stake in WESCO International in the 4th quarter valued at $122,000. Finally, Raiffeisen Bank International AG bought a new stake in shares of WESCO International in the 4th quarter worth about $180,000. 93.76% of the stock is currently owned by institutional investors and hedge funds.

About WESCO International

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).