WESCO International, Inc. (WCC) Forecasted to Post Q4 2017 Earnings of $0.95 Per Share
WESCO International, Inc. (NYSE:WCC) – Investment analysts at KeyCorp increased their Q4 2017 earnings per share (EPS) estimates for WESCO International in a report issued on Wednesday. KeyCorp analyst S. Barger now forecasts that the technology company will post earnings per share of $0.95 for the quarter, up from their prior forecast of $0.93. KeyCorp has a “Buy” rating and a $64.00 price target on the stock.
Several other research firms have also commented on WCC. Zacks Investment Research lowered shares of WESCO International from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Wells Fargo & Company lifted their price objective on shares of WESCO International from $67.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th. Standpoint Research lowered shares of WESCO International from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. They noted that the move was a valuation call. ValuEngine raised shares of WESCO International from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $56.00 price objective on shares of WESCO International in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $68.54.
WESCO International (NYSE:WCC) last posted its quarterly earnings data on Thursday, October 26th. The technology company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.03 by $0.09. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.93 billion. WESCO International had a net margin of 2.52% and a return on equity of 9.11%. WESCO International’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.05 earnings per share.
Several hedge funds have recently added to or reduced their stakes in WCC. D.A. Davidson & CO. raised its holdings in shares of WESCO International by 32.0% in the second quarter. D.A. Davidson & CO. now owns 3,572 shares of the technology company’s stock valued at $204,000 after acquiring an additional 866 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of WESCO International in the second quarter valued at about $238,000. Janney Capital Management LLC raised its holdings in shares of WESCO International by 47.4% in the third quarter. Janney Capital Management LLC now owns 5,199 shares of the technology company’s stock valued at $302,000 after acquiring an additional 1,672 shares in the last quarter. Diamond Hill Capital Management Inc. bought a new stake in shares of WESCO International in the third quarter valued at about $502,000. Finally, Amalgamated Bank raised its holdings in shares of WESCO International by 26.3% in the second quarter. Amalgamated Bank now owns 8,789 shares of the technology company’s stock valued at $504,000 after acquiring an additional 1,831 shares in the last quarter. Hedge funds and other institutional investors own 98.79% of the company’s stock.
In other news, Director James Louis Singleton sold 3,288 shares of the business’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 sale, the director now directly owns 19,477 shares of the company’s stock, valued at $1,251,397.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is currently owned by insiders.
WESCO International announced that its board has authorized a stock repurchase plan on Wednesday, December 13th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the technology company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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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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