FY2017 EPS Estimates for WESCO International, Inc. (WCC) Boosted by Oppenheimer
WESCO International, Inc. (NYSE:WCC) – Investment analysts at Oppenheimer lifted their FY2017 earnings per share (EPS) estimates for WESCO International in a research note issued on Wednesday. Oppenheimer analyst C. Glynn now forecasts that the technology company will post earnings per share of $3.91 for the year, up from their prior forecast of $3.90. Oppenheimer also issued estimates for WESCO International’s Q4 2017 earnings at $1.01 EPS, Q1 2018 earnings at $0.81 EPS, Q2 2018 earnings at $1.03 EPS, Q3 2018 earnings at $1.29 EPS, Q4 2018 earnings at $1.17 EPS, FY2018 earnings at $4.30 EPS and FY2019 earnings at $4.65 EPS.
WCC has been the topic of a number of other research reports. Wolfe Research downgraded WESCO International from an “outperform” rating to a “market perform” rating in a report on Friday, October 27th. Zacks Investment Research downgraded WESCO International from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. ValuEngine downgraded WESCO International from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Wells Fargo & Company increased their price objective on WESCO International from $65.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, October 6th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $56.00 price objective on shares of WESCO International in a report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. WESCO International has a consensus rating of “Hold” and an average price target of $68.54.
WESCO International (NYSE WCC) opened at $64.90 on Friday. WESCO International has a 1-year low of $48.95 and a 1-year high of $76.15. The company has a market capitalization of $2,998.73, a PE ratio of 16.53, a PEG ratio of 1.65 and a beta of 1.95. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.31 and a quick ratio of 1.42.
WESCO International (NYSE:WCC) last posted its quarterly earnings results on Thursday, October 26th. The technology company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.09. WESCO International had a return on equity of 9.11% and a net margin of 2.52%. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter last year, the company earned $1.05 EPS. WESCO International’s revenue for the quarter was up 7.8% compared to the same quarter last year.
WESCO International announced that its board has authorized a share repurchase program on Wednesday, December 13th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the technology company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
In related news, Director James Louis Singleton sold 3,288 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $64.25, for a total transaction of $211,254.00. Following the transaction, the director now owns 19,477 shares in the company, valued at approximately $1,251,397.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.90% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. lifted its position in WESCO International by 32.0% during the 2nd quarter. D.A. Davidson & CO. now owns 3,572 shares of the technology company’s stock worth $204,000 after acquiring an additional 866 shares during the period. Quantbot Technologies LP acquired a new stake in WESCO International during the 2nd quarter worth approximately $238,000. Janney Capital Management LLC lifted its position in WESCO International by 47.4% during the 3rd quarter. Janney Capital Management LLC now owns 5,199 shares of the technology company’s stock worth $302,000 after acquiring an additional 1,672 shares during the period. Diamond Hill Capital Management Inc. acquired a new stake in WESCO International during the 3rd quarter worth approximately $502,000. Finally, Amalgamated Bank lifted its position in WESCO International by 26.3% during the 2nd quarter. Amalgamated Bank now owns 8,789 shares of the technology company’s stock worth $504,000 after acquiring an additional 1,831 shares during the period. Hedge funds and other institutional investors own 98.79% of the company’s stock.
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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