WESCO International (NYSE:WCC) Releases Earnings Results, Beats Estimates By $0.36 EPS

WESCO International (NYSE:WCC) posted its quarterly earnings data on Thursday. The technology company reported $3.58 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.36, Briefing.com reports. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same period in the prior year, the firm posted $4.49 EPS. The company’s quarterly revenue was down 2.7% on a year-over-year basis.

WESCO International Stock Performance

NYSE WCC opened at $188.17 on Friday. The company has a market cap of $9.25 billion, a P/E ratio of 15.07, a PEG ratio of 1.59 and a beta of 2.01. The company has a fifty day simple moving average of $168.15 and a 200 day simple moving average of $167.47. The company has a current ratio of 2.21, a quick ratio of 1.34 and a debt-to-equity ratio of 0.99. WESCO International has a 12-month low of $131.38 and a 12-month high of $195.99.

WESCO International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Friday, September 13th. WESCO International’s dividend payout ratio is currently 13.21%.

Insiders Place Their Bets

In other news, EVP Nelson John Squires III sold 10,000 shares of WESCO International stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $190.00, for a total transaction of $1,900,000.00. Following the completion of the transaction, the executive vice president now directly owns 54,621 shares in the company, valued at $10,377,990. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Nelson John Squires III sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $190.00, for a total value of $1,900,000.00. Following the transaction, the executive vice president now owns 54,621 shares in the company, valued at $10,377,990. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $998,307.64. Following the sale, the director now owns 27,004 shares of the company’s stock, valued at $4,632,806.24. This trade represents a 0.00 % decrease in their position. 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 topic of a number of research analyst reports. KeyCorp upped their price target on shares of WESCO International from $195.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday. Royal Bank of Canada upped their target price on WESCO International from $186.00 to $199.00 and gave the company a “sector perform” rating in a research report on Friday. Loop Capital lifted their target price on WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Oppenheimer boosted their price target on WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Stephens reaffirmed an “overweight” rating and set a $190.00 price objective on shares of WESCO International in a research report on Monday, August 5th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $206.71.

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).