WESCO International (WCC) to Release Quarterly Earnings on Thursday

WESCO International (NYSE:WCC) will be issuing its quarterly earnings data before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $2.43 per share for the quarter. WESCO International has set its FY 2024 guidance at EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

WESCO International (NYSE:WCC) last posted its quarterly earnings data on Tuesday, February 13th. The technology company reported $2.65 earnings per share for the quarter, missing analysts’ consensus estimates of $3.86 by ($1.21). The business had revenue of $5.50 billion during the quarter, compared to analyst estimates of $5.59 billion. WESCO International had a return on equity of 17.01% and a net margin of 3.42%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.13 EPS. On average, analysts expect WESCO International to post $14 EPS for the current fiscal year and $17 EPS for the next fiscal year.

WESCO International Stock Up 0.2 %

WESCO International stock opened at $159.51 on Thursday. The stock has a market capitalization of $8.13 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 1.10 and a beta of 2.06. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.48 and a quick ratio of 1.42. The business has a fifty day moving average price of $159.37 and a 200-day moving average price of $159.12. WESCO International has a 1-year low of $121.90 and a 1-year high of $195.43.

WESCO International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.4125 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 1.03%. This is a positive change from WESCO International’s previous quarterly dividend of $0.38. WESCO International’s dividend payout ratio (DPR) is presently 12.19%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WCC. KeyCorp lifted their price target on WESCO International from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Oppenheimer lifted their price objective on WESCO International from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Royal Bank of Canada cut WESCO International from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $202.00 to $173.00 in a report on Tuesday, February 13th. JPMorgan Chase & Co. lowered their price objective on WESCO International from $180.00 to $175.00 and set an “overweight” rating on the stock in a report on Friday, March 15th. Finally, Robert W. Baird lowered their price objective on WESCO International from $203.00 to $170.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $184.67.

Insider Transactions at WESCO International

In other news, EVP James Cameron sold 5,352 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $156.39, for a total transaction of $836,999.28. Following the transaction, the executive vice president now directly owns 33,595 shares in the company, valued at approximately $5,253,922.05. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Nelson John Squires III sold 3,490 shares of WESCO International stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $190.00, for a total transaction of $663,100.00. Following the sale, the executive vice president now owns 54,385 shares of the company’s stock, valued at approximately $10,333,150. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP James Cameron sold 5,352 shares of WESCO International stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $156.39, for a total transaction of $836,999.28. Following the sale, the executive vice president now directly owns 33,595 shares in the company, valued at approximately $5,253,922.05. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

WESCO International Company Profile

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).