WESCO International (NYSE:WCC) Updates FY 2022 Earnings Guidance

WESCO International (NYSE:WCCGet Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share guidance of $15.60-$16.40 for the period. The company issued revenue guidance of $21.13 billion-$21.50 billion, compared to the consensus revenue estimate of $20.82 billion. WESCO International also updated its FY22 guidance to $15.60-$16.40 EPS.

WESCO International Trading Up 1.5 %

NYSE WCC traded up $1.94 on Friday, hitting $132.44. 581,263 shares of the company were exchanged, compared to its average volume of 472,660. The company’s 50 day moving average price is $116.78 and its 200-day moving average price is $121.69. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.11 and a quick ratio of 1.23. The firm has a market capitalization of $6.72 billion, a P/E ratio of 10.95, a price-to-earnings-growth ratio of 0.83 and a beta of 2.15. WESCO International has a twelve month low of $99.00 and a twelve month high of $144.43.

WESCO International (NYSE:WCCGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The technology company reported $4.19 EPS for the quarter, beating the consensus estimate of $3.81 by $0.38. The business had revenue of $5.50 billion during the quarter, compared to analysts’ expectations of $5.31 billion. WESCO International had a return on equity of 19.75% and a net margin of 3.45%. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.64 EPS. Analysts predict that WESCO International will post 15.76 earnings per share for the current fiscal year.

WESCO International declared that its board has initiated a stock repurchase program on Wednesday, June 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to repurchase up to 14.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts have recently weighed in on WCC shares. StockNews.com lowered WESCO International from a buy rating to a hold rating in a research note on Thursday, July 21st. KeyCorp raised their price target on WESCO International from $150.00 to $155.00 and gave the stock an overweight rating in a research report on Friday. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of $160.00.

Institutional Trading of WESCO International

A hedge fund recently raised its stake in WESCO International stock. MetLife Investment Management LLC boosted its position in WESCO International, Inc. (NYSE:WCCGet Rating) by 55.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,551 shares of the technology company’s stock after purchasing an additional 8,430 shares during the period. MetLife Investment Management LLC’s holdings in WESCO International were worth $3,065,000 at the end of the most recent quarter. 92.83% of the stock is currently owned by hedge funds and other institutional investors.

About WESCO International

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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).

See Also

Earnings History and Estimates for WESCO International (NYSE:WCC)

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