$1.92 Billion in Sales Expected for WESCO International, Inc. (NYSE:WCC) This Quarter
Wall Street brokerages expect WESCO International, Inc. (NYSE:WCC) to post $1.92 billion in sales for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for WESCO International’s earnings, with estimates ranging from $1.91 billion to $1.92 billion. WESCO International posted sales of $1.86 billion in the same quarter last year, which would indicate a positive year over year growth rate of 3.2%. The company is expected to report its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that WESCO International will report full year sales of $1.92 billion for the current year, with estimates ranging from $7.47 billion to $7.52 billion. For the next financial year, analysts expect that the firm will report sales of $7.84 billion per share, with estimates ranging from $7.72 billion to $7.99 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover WESCO International.
WESCO International (NYSE:WCC) last released its earnings results on Thursday, July 27th. The technology company reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.04. The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.91 billion. WESCO International had a return on equity of 9.11% and a net margin of 1.41%. The firm’s revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.02 earnings per share.
A number of brokerages have issued reports on WCC. UBS AG reiterated a “neutral” rating and issued a $67.00 price target (down from $69.00) on shares of WESCO International in a report on Tuesday, May 2nd. Standpoint Research upgraded shares of WESCO International from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Thursday, August 3rd. Royal Bank Of Canada reiterated a “hold” rating on shares of WESCO International in a report on Wednesday, July 12th. Zacks Investment Research upgraded shares of WESCO International from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Finally, Northcoast Research began coverage on shares of WESCO International in a report on Tuesday, July 25th. They issued a “buy” rating and a $70.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $68.19.
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WESCO International (NYSE:WCC) traded down 0.87% on Friday, reaching $51.10. The company had a trading volume of 401,194 shares. The stock’s 50 day moving average price is $55.08 and its 200-day moving average price is $63.45. The stock has a market capitalization of $2.45 billion, a PE ratio of 24.23 and a beta of 1.77. WESCO International has a 12-month low of $49.05 and a 12-month high of $76.15.
A number of institutional investors have recently modified their holdings of the stock. Tyers Asset Management LLC increased its position in shares of WESCO International by 173.8% in the first quarter. Tyers Asset Management LLC now owns 8,848 shares of the technology company’s stock valued at $615,000 after buying an additional 5,616 shares during the last quarter. Elkfork Partners LLC increased its position in shares of WESCO International by 173.8% in the first quarter. Elkfork Partners LLC now owns 12,166 shares of the technology company’s stock valued at $846,000 after buying an additional 7,722 shares during the last quarter. Teachers Advisors LLC increased its position in shares of WESCO International by 110.7% in the fourth quarter. Teachers Advisors LLC now owns 267,333 shares of the technology company’s stock valued at $17,791,000 after buying an additional 140,427 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of WESCO International by 5.6% in the first quarter. Parametric Portfolio Associates LLC now owns 166,246 shares of the technology company’s stock valued at $11,562,000 after buying an additional 8,852 shares during the last quarter. Finally, Tudor Investment Corp ET AL purchased a new position in shares of WESCO International during the first quarter valued at approximately $8,096,000. Institutional investors own 95.53% of the company’s stock.
About WESCO International
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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