Q3 2023 EPS Estimates for WESCO International, Inc. (NYSE:WCC) Cut by Analyst

WESCO International, Inc. (NYSE:WCC) – Equities researchers at Zacks Research reduced their Q3 2023 earnings estimates for WESCO International in a research report issued on Wednesday, November 1st. Zacks Research analyst A. Agarwal now expects that the technology company will post earnings of $3.82 per share for the quarter, down from their prior estimate of $3.87. The consensus estimate for WESCO International’s current full-year earnings is $15.32 per share. Zacks Research also issued estimates for WESCO International’s FY2023 earnings at $15.22 EPS, Q1 2025 earnings at $4.42 EPS, Q2 2025 earnings at $4.75 EPS, Q3 2025 earnings at $4.75 EPS and FY2025 earnings at $18.85 EPS.

WESCO International (NYSE:WCC) last announced its earnings results on Thursday, August 3rd. The technology company reported $3.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.45 by ($0.74). The company had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.94 billion. WESCO International had a net margin of 3.75% and a return on equity of 18.90%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the business earned $4.19 EPS.

Other equities research analysts also recently issued reports about the stock. KeyCorp dropped their price objective on shares of WESCO International from $210.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, August 4th. Oppenheimer lowered their target price on shares of WESCO International from $190.00 to $185.00 and set an “outperform” rating for the company in a report on Friday, August 4th. StockNews.com upgraded shares of WESCO International from a “hold” rating to a “buy” rating in a report on Friday. JPMorgan Chase & Co. upgraded shares of WESCO International from a “neutral” rating to an “overweight” rating and set a $180.00 target price for the company in a report on Friday, October 6th. Finally, Royal Bank of Canada lowered their target price on shares of WESCO International from $214.00 to $189.00 and set an “outperform” rating for the company in a report on Friday, August 4th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, WESCO International has a consensus rating of “Buy” and a consensus price target of $189.86.

WESCO International Stock Performance

NYSE:WCC opened at $142.80 on Monday. The company’s 50-day moving average is $144.84 and its two-hundred day moving average is $151.94. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of 9.53, a PEG ratio of 0.89 and a beta of 2.01. WESCO International has a 1-year low of $115.50 and a 1-year high of $185.23. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.36 and a quick ratio of 1.40.

WESCO International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Thursday, September 14th. WESCO International’s dividend payout ratio is presently 10.01%.

Insider Activity

In related news, Director Easwaran Sundaram sold 1,052 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $152.83, for a total value of $160,777.16. Following the completion of the sale, the director now directly owns 9,461 shares in the company, valued at $1,445,924.63. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Park Place Capital Corp raised its holdings in WESCO International by 41.3% in the third quarter. Park Place Capital Corp now owns 294 shares of the technology company’s stock valued at $42,000 after acquiring an additional 86 shares in the last quarter. FDx Advisors Inc. raised its holdings in shares of WESCO International by 7.3% during the third quarter. FDx Advisors Inc. now owns 1,555 shares of the technology company’s stock worth $224,000 after purchasing an additional 106 shares during the period. First Hawaiian Bank raised its holdings in shares of WESCO International by 2.1% during the third quarter. First Hawaiian Bank now owns 5,501 shares of the technology company’s stock worth $791,000 after purchasing an additional 113 shares during the period. Captrust Financial Advisors raised its holdings in shares of WESCO International by 5.1% during the second quarter. Captrust Financial Advisors now owns 2,497 shares of the technology company’s stock worth $267,000 after purchasing an additional 122 shares during the period. Finally, Quent Capital LLC raised its holdings in shares of WESCO International by 5.0% during the third quarter. Quent Capital LLC now owns 3,439 shares of the technology company’s stock worth $495,000 after purchasing an additional 165 shares during the period. 99.15% of the stock is owned by institutional investors and hedge funds.

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).