WESCO International (NYSE:WCC) Price Target Cut to $172.00 by Analysts at Royal Bank of Canada

WESCO International (NYSE:WCC) had its price target cut by Royal Bank of Canada from $176.00 to $172.00 in a research note published on Friday, Benzinga reports. They currently have a sector perform rating on the technology company’s stock.

Other analysts have also issued research reports about the stock. KeyCorp lifted their price objective on shares of WESCO International from $165.00 to $190.00 and gave the company an overweight rating in a research note on Thursday, April 11th. Robert W. Baird dropped their price target on shares of WESCO International from $203.00 to $170.00 and set an outperform rating on the stock in a research note on Wednesday, February 14th. JPMorgan Chase & Co. decreased their price objective on shares of WESCO International from $180.00 to $175.00 and set an overweight rating for the company in a research report on Friday, March 15th. StockNews.com downgraded WESCO International from a buy rating to a hold rating in a report on Wednesday, February 14th. Finally, Oppenheimer increased their price target on shares of WESCO International from $190.00 to $200.00 and gave the stock an outperform rating in a research report on Friday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $188.67.

WESCO International Stock Up 1.6 %

Shares of NYSE:WCC traded up $2.62 during midday trading on Friday, hitting $167.70. 754,885 shares of the company’s stock traded hands, compared to its average volume of 656,150. The firm’s fifty day moving average price is $161.27 and its two-hundred day moving average price is $159.76. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.42 and a current ratio of 2.21. WESCO International has a twelve month low of $121.90 and a twelve month high of $195.43. The company has a market cap of $8.54 billion, a PE ratio of 13.96, a P/E/G ratio of 1.17 and a beta of 2.07.

WESCO International (NYSE:WCC) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $2.30 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.13). WESCO International had a return on equity of 15.10% and a net margin of 3.08%. The company had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same quarter in the prior year, the firm earned $3.75 EPS. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, equities research analysts anticipate that WESCO International will post 14.14 EPS for the current fiscal year.

WESCO International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.4125 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from WESCO International’s previous quarterly dividend of $0.38. This represents a $1.65 dividend on an annualized basis and a yield of 0.98%. WESCO International’s payout ratio is presently 13.74%.

Insider Buying and Selling at WESCO International

In related news, EVP James Cameron sold 5,352 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $156.39, for a total value of $836,999.28. Following the completion of the sale, the executive vice president now owns 33,595 shares of the company’s stock, valued at approximately $5,253,922.05. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Nelson John Squires III sold 3,490 shares of WESCO International stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $190.00, for a total transaction of $663,100.00. Following the sale, the executive vice president now owns 54,385 shares of the company’s stock, valued at approximately $10,333,150. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James Cameron sold 5,352 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $156.39, for a total transaction of $836,999.28. Following the completion of the sale, the executive vice president now directly owns 33,595 shares in the company, valued at approximately $5,253,922.05. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On WESCO International

Large investors have recently made changes to their positions in the company. KB Financial Partners LLC grew its position in WESCO International by 76.8% during the 3rd quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock worth $28,000 after acquiring an additional 86 shares during the last quarter. FDx Advisors Inc. increased its stake in shares of WESCO International by 7.3% in the third quarter. FDx Advisors Inc. now owns 1,555 shares of the technology company’s stock valued at $224,000 after buying an additional 106 shares in the last quarter. Rise Advisors LLC bought a new position in shares of WESCO International in the first quarter valued at about $26,000. Anchor Investment Management LLC acquired a new position in WESCO International during the 4th quarter worth about $48,000. Finally, GAMMA Investing LLC bought a new stake in WESCO International during the 4th quarter worth about $56,000. 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).