WESCO International, Inc. (WCC) to Post Q1 2018 Earnings of $0.87 Per Share, William Blair Forecasts
WESCO International, Inc. (NYSE:WCC) – Investment analysts at William Blair issued their Q1 2018 earnings per share estimates for shares of WESCO International in a research report issued to clients and investors on Thursday. William Blair analyst R. Merkel anticipates that the technology company will post earnings per share of $0.87 for the quarter. William Blair also issued estimates for WESCO International’s Q2 2018 earnings at $1.16 EPS, Q3 2018 earnings at $1.25 EPS, Q4 2018 earnings at $1.07 EPS and FY2019 earnings at $4.90 EPS.
WESCO International (NYSE:WCC) last announced its quarterly earnings results on Thursday, October 26th. The technology company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.09. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.93 billion. WESCO International had a return on equity of 9.17% and a net margin of 2.52%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.05 earnings per share.
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Several other equities analysts have also recently commented on WCC. Zacks Investment Research raised shares of WESCO International from a “sell” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Tuesday, July 4th. BidaskClub raised shares of WESCO International from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Wolfe Research initiated coverage on shares of WESCO International in a research report on Tuesday, July 11th. They set an “outperform” rating and a $66.00 target price on the stock. Royal Bank Of Canada reissued a “hold” rating on shares of WESCO International in a research report on Wednesday, July 12th. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $70.00 target price (down previously from $84.00) on shares of WESCO International in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $68.29.
Shares of WESCO International (NYSE WCC) traded down 2.14% during trading on Monday, reaching $61.80. The company’s stock had a trading volume of 257,540 shares. The stock’s 50 day moving average price is $58.53 and its 200-day moving average price is $57.55. WESCO International has a 12 month low of $48.95 and a 12 month high of $76.15. The firm has a market cap of $2.96 billion, a PE ratio of 29.30 and a beta of 1.80.
A number of institutional investors have recently added to or reduced their stakes in the stock. Wasatch Advisors Inc. grew its stake in WESCO International by 20.3% in the 2nd quarter. Wasatch Advisors Inc. now owns 2,490,581 shares of the technology company’s stock valued at $142,710,000 after buying an additional 420,292 shares in the last quarter. Investec Asset Management LTD grew its stake in WESCO International by 24.5% in the 2nd quarter. Investec Asset Management LTD now owns 1,103,602 shares of the technology company’s stock valued at $63,236,000 after buying an additional 217,004 shares in the last quarter. Polaris Capital Management LLC grew its stake in WESCO International by 1.5% in the 2nd quarter. Polaris Capital Management LLC now owns 565,111 shares of the technology company’s stock valued at $32,381,000 after buying an additional 8,500 shares in the last quarter. Bank of New York Mellon Corp grew its stake in WESCO International by 5.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 437,185 shares of the technology company’s stock valued at $25,051,000 after buying an additional 22,204 shares in the last quarter. Finally, Frontier Capital Management Co. LLC grew its stake in WESCO International by 2.2% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 399,583 shares of the technology company’s stock valued at $23,276,000 after buying an additional 8,560 shares in the last quarter. Institutional investors and hedge funds own 98.21% of the company’s stock.
In other WESCO International news, CFO David S. Schulz acquired 4,000 shares of WESCO International stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $51.57 per share, for a total transaction of $206,280.00. Following the purchase, the chief financial officer now owns 9,000 shares of the company’s stock, valued at $464,130. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is currently owned by insiders.
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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