KeyCorp Issues Positive Forecast for WESCO International (NYSE:WCC) Stock Price

WESCO International (NYSE:WCC) had its price target upped by KeyCorp from $225.00 to $245.00 in a research note issued to investors on Monday morning,Benzinga reports. KeyCorp currently has an overweight rating on the technology company’s stock.

A number of other brokerages have also commented on WCC. Loop Capital boosted their price target on WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a report on Friday, September 27th. Robert W. Baird boosted their price target on WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Baird R W upgraded WESCO International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Oppenheimer upped their target price on WESCO International from $205.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada upped their target price on WESCO International from $186.00 to $199.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $215.88.

WESCO International Stock Down 1.7 %

Shares of WESCO International stock opened at $203.17 on Monday. The company has a quick ratio of 1.29, a current ratio of 2.21 and a debt-to-equity ratio of 0.99. WESCO International has a 12 month low of $132.37 and a 12 month high of $216.17. The business has a fifty day simple moving average of $190.98 and a 200 day simple moving average of $174.22. The stock has a market cap of $9.96 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 1.68 and a beta of 2.01.

WESCO International (NYSE:WCC) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $3.58 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.36. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same period in the previous year, the firm earned $4.49 earnings per share. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. Research analysts predict that WESCO International will post 12.3 EPS for the current year.

WESCO International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, December 13th. WESCO International’s dividend payout ratio is 13.21%.

Insider Activity at WESCO International

In other news, Director Steven A. Raymund sold 5,819 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $171.56, for a total value of $998,307.64. Following the transaction, the director now owns 27,004 shares in the company, valued at $4,632,806.24. The trade was a 17.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David S. Schulz sold 14,938 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $206.55, for a total value of $3,085,443.90. Following the completion of the transaction, the chief financial officer now owns 104,471 shares in the company, valued at approximately $21,578,485.05. The trade was a 12.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,586 shares of company stock valued at $6,565,762 in the last three months. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On WESCO International

Several institutional investors have recently bought and sold shares of WCC. Wilmington Savings Fund Society FSB purchased a new stake in shares of WESCO International during the third quarter worth $592,000. Geode Capital Management LLC lifted its position in shares of WESCO International by 3.0% during the third quarter. Geode Capital Management LLC now owns 762,653 shares of the technology company’s stock worth $128,143,000 after acquiring an additional 22,080 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of WESCO International by 0.4% during the third quarter. MetLife Investment Management LLC now owns 23,102 shares of the technology company’s stock worth $3,881,000 after acquiring an additional 85 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of WESCO International by 80.4% during the third quarter. BNP Paribas Financial Markets now owns 12,034 shares of the technology company’s stock worth $2,021,000 after acquiring an additional 5,363 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of WESCO International in the third quarter worth $1,160,000. Hedge funds and other institutional investors own 93.76% 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).