Research Analysts Issue Forecasts for WESCO International, Inc.’s Q1 2018 Earnings (WCC)
WESCO International, Inc. (NYSE:WCC) – Northcoast Research issued their Q1 2018 EPS estimates for shares of WESCO International in a report issued on Wednesday. Northcoast Research analyst R. Cieslak expects that the technology company will post earnings of $0.79 per share for the quarter. Northcoast Research also issued estimates for WESCO International’s Q2 2018 earnings at $1.11 EPS, Q3 2018 earnings at $1.29 EPS and Q4 2018 earnings at $1.17 EPS.
Other analysts have also recently issued reports about the stock. KeyCorp reissued a “buy” rating and issued a $64.00 price objective on shares of WESCO International in a research note on Thursday, October 12th. Zacks Investment Research raised shares of WESCO International from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Tuesday, October 31st. ValuEngine raised shares of WESCO International from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Robert W. Baird restated a “hold” rating and set a $56.00 target price on shares of WESCO International in a research report on Wednesday, October 4th. Finally, Standpoint Research lowered shares of WESCO International from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $68.54.
Shares of WESCO International (NYSE:WCC) traded down $0.55 during midday trading on Friday, hitting $63.25. 443,200 shares of the stock were exchanged, compared to its average volume of 496,144. The company has a current ratio of 2.31, a quick ratio of 1.42 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $2,998.73, a PE ratio of 16.53, a PEG ratio of 1.65 and a beta of 1.95. WESCO International has a 1 year low of $48.95 and a 1 year high of $76.15.
WESCO International (NYSE:WCC) last announced its quarterly earnings data on Thursday, October 26th. The technology company reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.09. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.93 billion. WESCO International had a net margin of 2.52% and a return on equity of 9.11%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.05 earnings per share.
WESCO International declared that its board has approved a stock buyback plan on Wednesday, December 13th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the technology company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.
In related news, Director James Louis Singleton sold 3,288 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $64.25, for a total transaction of $211,254.00. Following the completion of the transaction, the director now owns 19,477 shares in the company, valued at $1,251,397.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. Investec Asset Management LTD lifted its position in WESCO International by 24.5% during the second quarter. Investec Asset Management LTD now owns 1,103,602 shares of the technology company’s stock valued at $63,236,000 after purchasing an additional 217,004 shares during the last quarter. Systematic Financial Management LP lifted its position in WESCO International by 22.7% during the second quarter. Systematic Financial Management LP now owns 31,130 shares of the technology company’s stock valued at $1,784,000 after purchasing an additional 5,765 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in WESCO International during the second quarter valued at $1,683,000. Airain ltd bought a new position in WESCO International during the second quarter valued at $1,983,000. Finally, Investec Asset Management North America Inc. lifted its position in WESCO International by 28.4% during the second quarter. Investec Asset Management North America Inc. now owns 19,938 shares of the technology company’s stock valued at $1,142,000 after purchasing an additional 4,405 shares during the last quarter. Institutional investors and hedge funds own 98.79% of the company’s stock.
WESCO International Company Profile
WESCO International, Inc is a distributor of products and provider of supply chain management and logistics services used in industrial, construction, utility and commercial, institutional and government (CIG) markets. The Company is a provider of electrical, industrial and communications maintenance, repair and operating (MRO) and original equipment manufacturers (OEM) products, construction materials, and supply chain management and logistics services.
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