WESCO International (NYSE:WCC) PT Raised to $187.00 at Royal Bank of Canada

WESCO International (NYSE:WCC) had its price target lifted by Royal Bank of Canada from $171.00 to $187.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a sector perform rating on the technology company’s stock.

Other research analysts have also recently issued research reports about the company. Robert W. Baird cut their price objective on WESCO International from $195.00 to $172.00 and set a neutral rating on the stock in a research report on Friday, August 2nd. StockNews.com cut WESCO International from a buy rating to a hold rating in a research report on Tuesday, July 2nd. KeyCorp cut their price objective on WESCO International from $205.00 to $195.00 and set an overweight rating on the stock in a research report on Friday, August 2nd. Loop Capital boosted their price objective on WESCO International from $190.00 to $210.00 and gave the stock a buy rating in a research report on Friday. Finally, Stephens reissued an overweight rating and issued a $190.00 price objective on shares of WESCO International in a research report on Monday, August 5th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, WESCO International presently has a consensus rating of Moderate Buy and an average target price of $189.86.

WESCO International Stock Down 0.3 %

Shares of NYSE:WCC opened at $171.58 on Friday. The stock has a market cap of $8.72 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 1.38 and a beta of 2.03. The company has a quick ratio of 1.34, a current ratio of 2.28 and a debt-to-equity ratio of 1.07. WESCO International has a 12-month low of $122.30 and a 12-month high of $195.43. The business’s 50 day moving average is $161.63 and its 200 day moving average is $166.38.

WESCO International (NYSE:WCC) last announced its earnings results on Thursday, August 1st. The technology company reported $3.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.27). The company had revenue of $5.48 billion for the quarter, compared to analysts’ expectations of $5.55 billion. WESCO International had a net margin of 3.30% and a return on equity of 14.44%. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.71 EPS. On average, sell-side analysts forecast that WESCO International will post 12.14 earnings per share for the current fiscal year.

WESCO International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a dividend of $0.4125 per share. The ex-dividend date is Friday, September 13th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.96%. WESCO International’s dividend payout ratio is presently 13.74%.

Insider Activity

In other news, Director Steven A. Raymund sold 5,819 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $171.56, for a total transaction of $998,307.64. Following the transaction, the director now owns 27,004 shares of the company’s stock, valued at approximately $4,632,806.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Rise Advisors LLC purchased a new position in shares of WESCO International during the 1st quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of WESCO International by 71.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock valued at $26,000 after purchasing an additional 69 shares during the period. GAMMA Investing LLC raised its stake in shares of WESCO International by 65.4% during the 2nd quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock valued at $40,000 after purchasing an additional 100 shares during the period. Innealta Capital LLC bought a new stake in shares of WESCO International during the 2nd quarter valued at $152,000. Finally, TimesSquare Capital Management LLC bought a new stake in shares of WESCO International during the 1st quarter valued at $463,000. 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).