WESCO International (NYSE:WCC) Releases Quarterly Earnings Results, Beats Expectations By $0.36 EPS

WESCO International (NYSE:WCC) issued its quarterly earnings data on Thursday. The technology company reported $3.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.36, Briefing.com reports. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. WESCO International had a net margin of 3.30% and a return on equity of 14.44%. WESCO International’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $4.49 earnings per share.

WESCO International Stock Performance

WESCO International stock traded down $3.80 during trading hours on Friday, hitting $188.17. The stock had a trading volume of 915,241 shares, compared to its average volume of 700,988. The company has a 50-day moving average of $167.69 and a two-hundred day moving average of $167.27. The company has a quick ratio of 1.34, a current ratio of 2.28 and a debt-to-equity ratio of 1.07. WESCO International has a fifty-two week low of $131.38 and a fifty-two week high of $195.99. The company has a market cap of $9.25 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 1.48 and a beta of 2.03.

WESCO International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Friday, September 13th. WESCO International’s dividend payout ratio (DPR) is presently 12.81%.

Insider Transactions at WESCO International

In related news, Director Steven A. Raymund sold 5,819 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 27,004 shares in the company, valued at approximately $4,632,806.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Steven A. Raymund sold 5,819 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $171.56, for a total value of $998,307.64. Following the sale, the director now owns 27,004 shares of the company’s stock, valued at $4,632,806.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Nelson John Squires III sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $190.00, for a total value of $1,900,000.00. Following the completion of the sale, the executive vice president now owns 54,621 shares in the company, valued at approximately $10,377,990. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.

Analysts Set New Price Targets

WCC has been the subject of a number of recent analyst reports. Robert W. Baird upped their target price on WESCO International from $215.00 to $223.00 and gave the stock an “outperform” rating in a research report on Friday. Oppenheimer raised their target price on shares of WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday. Stephens reissued an “overweight” rating and set a $190.00 target price on shares of WESCO International in a research report on Monday, August 5th. Royal Bank of Canada upped their price target on shares of WESCO International from $186.00 to $199.00 and gave the company a “sector perform” rating in a report on Friday. Finally, KeyCorp lifted their price objective on WESCO International from $195.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, WESCO International has an average rating of “Moderate Buy” and a consensus target price of $206.71.

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).