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

WESCO International (NYSE:WCC) issued its quarterly earnings results on Thursday. The technology company reported $3.58 EPS for the quarter, topping the consensus estimate of $3.22 by $0.36, Briefing.com reports. WESCO International had a net margin of 3.30% and a return on equity of 14.44%. The company had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same quarter in the previous year, the company earned $4.49 EPS. WESCO International’s revenue was down 2.7% on a year-over-year basis.

WESCO International Stock Down 2.0 %

WCC stock traded down $3.80 during trading hours on Friday, reaching $188.17. 915,241 shares of the stock were exchanged, compared to its average volume of 700,988. The company has a market cap of $9.25 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.48 and a beta of 2.03. The firm’s 50-day moving average is $167.69 and its 200-day moving average is $167.27. WESCO International has a 12 month low of $131.38 and a 12 month high of $195.99. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.28 and a quick ratio of 1.34.

WESCO International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Friday, September 13th. WESCO International’s payout ratio is presently 12.81%.

Wall Street Analysts Forecast Growth

WCC has been the subject of several recent research reports. Royal Bank of Canada upped their target price on shares of WESCO International from $186.00 to $199.00 and gave the company a “sector perform” rating in a research report on Friday. Loop Capital upped their price objective on WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a report on Friday, September 27th. Stephens restated an “overweight” rating and set a $190.00 target price on shares of WESCO International in a report on Monday, August 5th. KeyCorp boosted their target price on WESCO International from $195.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Oppenheimer increased their price target on shares of WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $206.71.

Insider Transactions at WESCO International

In other WESCO International news, EVP Nelson John Squires III sold 10,000 shares of the company’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 transaction of $1,900,000.00. Following the completion of the transaction, the executive vice president now owns 54,621 shares of the company’s stock, valued at $10,377,990. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Steven A. Raymund sold 5,819 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $171.56, for a total transaction of $998,307.64. Following the sale, the director now owns 27,004 shares in the company, valued at approximately $4,632,806.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Nelson John Squires III sold 10,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were 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 directly owns 54,621 shares of the company’s stock, valued at $10,377,990. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.

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).