WESCO International (NYSE:WCC) Issues FY 2024 Earnings Guidance

WESCO International (NYSE:WCC) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 12.000-13.000 for the period, compared to the consensus EPS estimate of 12.180. The company issued revenue guidance of $21.6 billion-$22.0 billion, compared to the consensus revenue estimate of $22.2 billion. WESCO International also updated its FY24 guidance to $12-13 EPS.

WESCO International Price Performance

WESCO International stock opened at $171.52 on Friday. The stock has a market capitalization of $8.72 billion, a P/E ratio of 14.28, a P/E/G ratio of 1.38 and a beta of 2.03. The company’s fifty day moving average price is $161.63 and its 200 day moving average price is $166.33. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.34 and a current ratio of 2.28. WESCO International has a 1 year low of $122.30 and a 1 year high of $195.43.

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

WESCO International Announces Dividend

The business 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 $0.4125 dividend. The ex-dividend date of this dividend 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 (DPR) is presently 13.74%.

Wall Street Analysts Forecast Growth

WCC has been the topic of a number of recent research reports. Stephens reissued an overweight rating and set a $190.00 price objective on shares of WESCO International in a research note on Monday, August 5th. Loop Capital raised their target price on WESCO International from $190.00 to $210.00 and gave the stock a buy rating in a research note on Friday. Royal Bank of Canada upped their price target on WESCO International from $171.00 to $187.00 and gave the company a sector perform rating in a research note on Friday. KeyCorp reduced their price objective on shares of WESCO International from $205.00 to $195.00 and set an overweight rating on the stock in a report on Friday, August 2nd. Finally, StockNews.com cut shares of WESCO International from a buy rating to a hold rating in a research report on Tuesday, July 2nd. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $189.86.

Insider Buying and Selling

In other WESCO International news, Director Steven A. Raymund sold 5,819 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $171.56, for a total value of $998,307.64. Following the sale, the director now directly 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 SEC, which is available at the SEC website. Insiders own 3.10% of the company’s stock.

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).