WESCO International (NYSE:WCC) Given New $213.00 Price Target at Royal Bank of Canada

WESCO International (NYSE:WCC) had its target price raised by Royal Bank of Canada from $212.00 to $213.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a sector perform rating on the technology company’s stock.

A number of other brokerages have also recently weighed in on WCC. KeyCorp boosted their price objective on WESCO International from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Robert W. Baird boosted their price objective on WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. StockNews.com upgraded WESCO International from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Stephens boosted their price objective on WESCO International from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Baird R W upgraded WESCO International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, WESCO International currently has a consensus rating of “Moderate Buy” and an average price target of $217.63.

WESCO International Stock Performance

Shares of WCC opened at $193.22 on Wednesday. The stock has a 50 day moving average price of $187.14 and a 200 day moving average price of $179.65. The company has a quick ratio of 1.29, a current ratio of 2.21 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $9.47 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 1.34 and a beta of 2.01. WESCO International has a 52-week low of $132.37 and a 52-week high of $216.17.

WESCO International (NYSE:WCC) last announced its quarterly earnings results on Tuesday, February 11th. The technology company reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.23 by ($0.07). WESCO International had a net margin of 3.19% and a return on equity of 13.19%. Research analysts predict that WESCO International will post 12.3 EPS for the current fiscal year.

WESCO International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Friday, December 13th. WESCO International’s dividend payout ratio (DPR) is presently 13.21%.

Institutional Investors Weigh In On WESCO International

Several large investors have recently modified their holdings of WCC. V Square Quantitative Management LLC acquired a new position in WESCO International during the third quarter worth $28,000. Greenleaf Trust grew its holdings in WESCO International by 4.8% during the third quarter. Greenleaf Trust now owns 2,401 shares of the technology company’s stock worth $403,000 after acquiring an additional 111 shares during the period. Highland Capital Management LLC acquired a new position in WESCO International during the third quarter worth $221,000. Farmers & Merchants Investments Inc. grew its holdings in WESCO International by 1.5% during the third quarter. Farmers & Merchants Investments Inc. now owns 194,979 shares of the technology company’s stock worth $32,753,000 after acquiring an additional 2,923 shares during the period. Finally, EMC Capital Management grew its holdings in WESCO International by 580.8% during the third quarter. EMC Capital Management now owns 16,094 shares of the technology company’s stock worth $2,703,000 after acquiring an additional 13,730 shares during the period. Hedge funds and other institutional investors own 93.76% of the company’s stock.

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).