WESCO International, Inc. (NYSE:WCC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of WESCO International, Inc. (NYSE:WCC) have earned an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $184.71.

WCC has been the subject of a number of recent analyst reports. Stephens restated an “overweight” rating and issued a $190.00 price objective on shares of WESCO International in a report on Monday, August 5th. Royal Bank of Canada decreased their price objective on shares of WESCO International from $175.00 to $171.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. KeyCorp decreased their price objective on shares of WESCO International from $205.00 to $195.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Robert W. Baird decreased their price objective on shares of WESCO International from $195.00 to $172.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Loop Capital decreased their price objective on shares of WESCO International from $200.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, August 6th.

WESCO International Stock Performance

Shares of WCC opened at $166.65 on Thursday. The company has a quick ratio of 1.34, a current ratio of 2.28 and a debt-to-equity ratio of 1.07. The business’s 50 day moving average price is $162.01 and its 200-day moving average price is $165.77. WESCO International has a 52 week low of $122.30 and a 52 week high of $195.43. The stock has a market cap of $8.47 billion, a P/E ratio of 13.88, a P/E/G ratio of 1.35 and a beta of 2.03.

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 analysts’ consensus estimates of $3.48 by ($0.27). WESCO International had a return on equity of 14.44% and a net margin of 3.30%. The company had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same period in the prior year, the firm earned $3.71 earnings per share. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. Equities research analysts anticipate that WESCO International will post 12.17 earnings per share for the current fiscal year.

WESCO International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid 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 yield of 0.99%. WESCO International’s dividend payout ratio is presently 13.74%.

Institutional Investors Weigh In On WESCO International

Hedge funds have recently added to or reduced their stakes in the stock. Rise Advisors LLC purchased a new stake in shares of WESCO International in the 1st quarter worth $26,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of WESCO International by 71.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock worth $26,000 after purchasing an additional 69 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of WESCO International by 65.4% in the 2nd quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock worth $40,000 after purchasing an additional 100 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of WESCO International in the 2nd quarter worth $152,000. Finally, TimesSquare Capital Management LLC purchased a new stake in shares of WESCO International in the 1st quarter worth $463,000. 93.76% of the stock is currently owned by hedge funds and other institutional investors.

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).