WESCO International, Inc. (WCC) Research Coverage Started at Northcoast Research
Northcoast Research began coverage on shares of WESCO International, Inc. (NYSE:WCC) in a research note released on Tuesday, Marketbeat reports. The brokerage issued a buy rating and a $70.00 price target on the technology company’s stock. Northcoast Research also issued estimates for WESCO International’s Q2 2017 earnings at $0.98 EPS, Q3 2017 earnings at $1.11 EPS, Q4 2017 earnings at $1.05 EPS, FY2017 earnings at $3.90 EPS and FY2018 earnings at $4.50 EPS.
Several other research firms have also recently commented on WCC. Zacks Investment Research cut shares of WESCO International from a buy rating to a hold rating in a research note on Tuesday, April 4th. Raymond James Financial, Inc. raised shares of WESCO International from a market perform rating to an outperform rating and set a $70.00 price target on the stock in a research note on Wednesday, April 19th. Barclays PLC reissued an equal weight rating and set a $68.00 price target (up from $65.00) on shares of WESCO International in a research note on Wednesday, April 19th. Royal Bank Of Canada reissued a hold rating and set a $72.00 price target on shares of WESCO International in a research note on Friday, April 28th. Finally, Morgan Stanley raised shares of WESCO International from an equal weight rating to an overweight rating and decreased their price target for the company from $79.00 to $74.00 in a research note on Tuesday, May 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. WESCO International has an average rating of Buy and a consensus target price of $69.25.
WESCO International (WCC) opened at 51.50 on Tuesday. The company has a market cap of $2.51 billion, a PE ratio of 24.49 and a beta of 1.79. The firm has a 50 day moving average price of $56.83 and a 200 day moving average price of $64.71. WESCO International has a 12-month low of $49.05 and a 12-month high of $76.15.
WESCO International (NYSE:WCC) last released its quarterly earnings results on Thursday, July 27th. The technology company reported $1.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.04. WESCO International had a net margin of 1.41% and a return on equity of 9.19%. The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the firm earned $1.02 earnings per share. WESCO International’s revenue was down .1% compared to the same quarter last year. On average, analysts anticipate that WESCO International will post $3.85 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in WCC. DUPONT CAPITAL MANAGEMENT Corp purchased a new position in shares of WESCO International during the first quarter worth $146,000. Janney Capital Management LLC purchased a new position in shares of WESCO International during the second quarter worth $202,000. Comerica Bank purchased a new position in shares of WESCO International during the fourth quarter worth $210,000. Trust Co. of Vermont purchased a new position in shares of WESCO International during the second quarter worth $229,000. Finally, OppenheimerFunds Inc. boosted its position in shares of WESCO International by 14.3% in the first quarter. OppenheimerFunds Inc. now owns 5,009 shares of the technology company’s stock worth $348,000 after buying an additional 626 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.
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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