WESCO International, Inc. (NYSE:WCC) – Equities researchers at William Blair dropped their FY2020 EPS estimates for shares of WESCO International in a note issued to investors on Tuesday, May 7th, according to Zacks Investment Research. William Blair analyst R. Merkel now expects that the technology company will post earnings per share of $5.40 for the year, down from their prior forecast of $5.95. William Blair currently has a “Market Perform” rating on the stock.
WESCO International (NYSE:WCC) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.02). WESCO International had a net margin of 2.77% and a return on equity of 10.34%. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter last year, the business earned $0.93 EPS. WESCO International’s revenue for the quarter was down 1.6% compared to the same quarter last year.
A number of other equities research analysts have also weighed in on WCC. TheStreet lowered WESCO International from a “b-” rating to a “c+” rating in a research note on Friday, May 24th. Zacks Investment Research upgraded WESCO International from a “sell” rating to a “hold” rating in a research report on Saturday, February 9th. Northcoast Research reiterated a “buy” rating on shares of WESCO International in a research report on Friday, May 3rd. Wells Fargo & Co lifted their target price on WESCO International from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, March 18th. Finally, Stephens set a $65.00 target price on WESCO International and gave the stock a “buy” rating in a research report on Friday, February 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $63.00.
NYSE WCC traded down $0.98 during mid-day trading on Friday, reaching $46.83. 591,720 shares of the company’s stock traded hands, compared to its average volume of 637,021. WESCO International has a 1-year low of $43.94 and a 1-year high of $63.20. The company has a quick ratio of 1.31, a current ratio of 2.18 and a debt-to-equity ratio of 0.63. The firm has a market cap of $2.14 billion, a PE ratio of 9.72, a price-to-earnings-growth ratio of 0.89 and a beta of 1.69.
In related news, Director James Louis Singleton sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $53.46, for a total value of $160,380.00. Following the sale, the director now owns 16,656 shares of the company’s stock, valued at approximately $890,429.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John K. Morgan sold 3,077 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $51.29, for a total value of $157,819.33. Following the completion of the sale, the director now directly owns 25,984 shares in the company, valued at approximately $1,332,719.36. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of WESCO International in the 4th quarter worth approximately $37,803,000. Ffcm LLC raised its stake in WESCO International by 19.4% during the 4th quarter. Ffcm LLC now owns 21,846 shares of the technology company’s stock valued at $1,049,000 after acquiring an additional 3,556 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in WESCO International by 0.5% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 696,223 shares of the technology company’s stock valued at $42,783,000 after acquiring an additional 3,449 shares in the last quarter. Polaris Capital Management LLC raised its stake in WESCO International by 5.2% during the 4th quarter. Polaris Capital Management LLC now owns 784,158 shares of the technology company’s stock valued at $37,640,000 after acquiring an additional 39,100 shares in the last quarter. Finally, Bowling Portfolio Management LLC raised its stake in WESCO International by 784.3% during the 4th quarter. Bowling Portfolio Management LLC now owns 58,830 shares of the technology company’s stock valued at $2,824,000 after acquiring an additional 52,177 shares in the last quarter. 98.48% of the stock is currently owned by institutional investors and hedge funds.
WESCO International Company Profile
WESCO International, Inc distributes electrical, industrial, and communications maintenance, repair and operating (MRO) and original equipment manufacturers products and construction materials in North America and internationally. The company sells general supplies, such as wiring devices, fuses, terminals, connectors, boxes, enclosures, fittings, lugs, terminations, wraps, splicing and marking equipment, tools and testers, safety, personal protection, sealants, cutting tools, adhesives, consumables, fasteners, janitorial, and other MRO supplies.