WESCO International, Inc. (WCC) Expected to Announce Earnings of $0.72 Per Share
Wall Street analysts expect WESCO International, Inc. (NYSE:WCC) to announce $0.72 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for WESCO International’s earnings, with the lowest EPS estimate coming in at $0.70 and the highest estimate coming in at $0.73. WESCO International posted earnings per share of $0.77 during the same quarter last year, which indicates a negative year over year growth rate of 6.5%. The firm is expected to issue its next earnings results before the market opens on Thursday, April 27th.
On average, analysts expect that WESCO International will report full year earnings of $3.84 per share for the current year, with EPS estimates ranging from $3.75 to $3.99. For the next financial year, analysts anticipate that the company will post earnings of $4.48 per share, with EPS estimates ranging from $4.15 to $4.85. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover WESCO International.
WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, January 26th. The technology company reported $0.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.01. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.81 billion. WESCO International had a return on equity of 9.49% and a net margin of 1.38%. The business’s revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 earnings per share.
WCC has been the topic of a number of research reports. TheStreet upgraded WESCO International from a “c” rating to a “b-” rating in a report on Tuesday, March 7th. Zacks Investment Research upgraded WESCO International from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a report on Tuesday, March 28th. Credit Suisse Group AG restated a “buy” rating and issued a $83.00 price target on shares of WESCO International in a report on Thursday, March 16th. Barclays PLC set a $65.00 price target on WESCO International and gave the stock a “hold” rating in a report on Thursday, January 26th. Finally, Royal Bank of Canada set a $66.00 price target on WESCO International and gave the stock a “hold” rating in a report on Wednesday, January 4th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $69.00.
In related news, CFO David S. Schulz bought 5,000 shares of the firm’s stock in a transaction on Tuesday, January 31st. The stock was bought at an average cost of $71.17 per share, for a total transaction of $355,850.00. Following the completion of the purchase, the chief financial officer now directly owns 5,000 shares in the company, valued at approximately $355,850. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman John Engel sold 75,171 shares of WESCO International stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $70.30, for a total value of $5,284,521.30. Following the completion of the transaction, the chairman now owns 138,278 shares of the company’s stock, valued at $9,720,943.40. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Comerica Bank acquired a new position in shares of WESCO International during the fourth quarter valued at about $210,000. Tyers Asset Management LLC acquired a new position in shares of WESCO International during the fourth quarter valued at about $215,000. Cantab Capital Partners LLP increased its position in shares of WESCO International by 311.3% in the fourth quarter. Cantab Capital Partners LLP now owns 4,039 shares of the technology company’s stock valued at $269,000 after buying an additional 3,057 shares in the last quarter. Elkfork Partners LLC acquired a new position in shares of WESCO International during the fourth quarter valued at about $296,000. Finally, Neuberger Berman Group LLC increased its position in shares of WESCO International by 11.6% in the third quarter. Neuberger Berman Group LLC now owns 7,233 shares of the technology company’s stock valued at $445,000 after buying an additional 751 shares in the last quarter.
Shares of WESCO International (NYSE:WCC) traded down 3.19% during trading on Thursday, reaching $63.65. The company had a trading volume of 690,830 shares. WESCO International has a 12 month low of $49.67 and a 12 month high of $76.15. The firm’s 50 day moving average price is $69.22 and its 200 day moving average price is $66.87. The firm has a market capitalization of $3.10 billion, a P/E ratio of 30.31 and a beta of 1.69.
WESCO International Company Profile
WESCO International, Inc is a distributor of products and provider of supply chain management and logistics services used in industrial, construction, utility and commercial, institutional and government (CIG) markets. The Company is a provider of electrical, industrial and communications maintenance, repair and operating (MRO) and original equipment manufacturers (OEM) products, construction materials, and supply chain management and logistics services.
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