WESCO International (NYSE:WCC) Updates FY22 Earnings Guidance

WESCO International (NYSE:WCCGet Rating) updated its FY22 earnings guidance on Thursday. The company provided earnings per share guidance of $14.00-15.00 for the period, compared to the consensus earnings per share estimate of $11.64.

Several research firms have recently commented on WCC. Loop Capital lifted their price target on WESCO International from $160.00 to $170.00 and gave the stock a buy rating in a report on Wednesday, February 16th. StockNews.com began coverage on WESCO International in a research report on Thursday, March 31st. They set a hold rating for the company. Finally, Zacks Investment Research downgraded WESCO International from a buy rating to a hold rating and set a $128.00 price objective for the company. in a research report on Tuesday, February 1st. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, WESCO International presently has a consensus rating of Buy and an average price target of $146.50.

Shares of WESCO International stock opened at $140.14 on Friday. WESCO International has a one year low of $93.80 and a one year high of $144.43. The company has a market cap of $7.11 billion, a PE ratio of 17.88, a P/E/G ratio of 1.10 and a beta of 2.17. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.21 and a current ratio of 2.08. The business has a 50-day simple moving average of $125.19 and a 200-day simple moving average of $127.09.

WESCO International (NYSE:WCCGet Rating) last posted its earnings results on Thursday, May 5th. The technology company reported $3.63 earnings per share for the quarter, topping the consensus estimate of $2.20 by $1.43. The firm had revenue of $4.93 billion during the quarter, compared to analysts’ expectations of $4.62 billion. WESCO International had a return on equity of 15.76% and a net margin of 2.55%. The firm’s revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.43 earnings per share. On average, sell-side analysts predict that WESCO International will post 11.54 earnings per share for the current fiscal year.

In related news, Director Easwaran Sundaram sold 7,344 shares of the business’s stock in a transaction that occurred on Thursday, March 3rd. The stock was sold at an average price of $120.01, for a total transaction of $881,353.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. California State Teachers Retirement System raised its stake in shares of WESCO International by 2.2% during the fourth quarter. California State Teachers Retirement System now owns 63,085 shares of the technology company’s stock worth $8,301,000 after purchasing an additional 1,328 shares during the last quarter. Comerica Bank raised its stake in shares of WESCO International by 217.0% during the fourth quarter. Comerica Bank now owns 7,385 shares of the technology company’s stock worth $893,000 after purchasing an additional 5,055 shares during the last quarter. Finally, Titleist Asset Management LTD. purchased a new stake in shares of WESCO International during the fourth quarter worth approximately $320,000. Institutional investors own 92.83% of the company’s stock.

WESCO International Company Profile (Get Rating)

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).

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Earnings History and Estimates for WESCO International (NYSE:WCC)

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