Wall Street brokerages expect WESCO International, Inc. (NYSE:WCC) to post sales of $1.92 billion for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for WESCO International’s earnings, with the lowest sales estimate coming in at $1.91 billion and the highest estimate coming in at $1.92 billion. WESCO International reported sales of $1.86 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 3.2%. The company is scheduled to report its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that WESCO International will report full-year sales of $1.92 billion for the current financial year, with estimates ranging from $7.47 billion to $7.53 billion. For the next fiscal year, analysts forecast that the company will post sales of $7.85 billion per share, with estimates ranging from $7.72 billion to $7.99 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover WESCO International.
WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, July 27th. The technology company reported $1.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.04. WESCO International had a return on equity of 9.11% and a net margin of 1.41%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the business earned $1.02 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis.
A number of brokerages have recently issued reports on WCC. BidaskClub cut WESCO International from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st. Credit Suisse Group set a $70.00 price target on WESCO International and gave the company a “buy” rating in a report on Saturday, June 10th. Robert W. Baird reaffirmed a “hold” rating and set a $56.00 price target on shares of WESCO International in a report on Wednesday. Zacks Investment Research cut WESCO International from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $70.00 price target (down from $84.00) on shares of WESCO International in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $67.29.
WESCO International (NYSE WCC) opened at 58.70 on Thursday. The company has a market capitalization of $2.82 billion, a P/E ratio of 27.83 and a beta of 1.80. The company’s 50-day moving average price is $53.45 and its 200-day moving average price is $58.71. WESCO International has a 52 week low of $48.95 and a 52 week high of $76.15.
In other WESCO International news, CFO David S. Schulz purchased 4,000 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was purchased at an average cost of $51.57 per share, for a total transaction of $206,280.00. Following the acquisition, the chief financial officer now owns 9,000 shares in the company, valued at approximately $464,130. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of WCC. Janney Capital Management LLC bought a new position in shares of WESCO International during the 2nd quarter worth approximately $202,000. D.A. Davidson & CO. lifted its position in shares of 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 buying an additional 866 shares in the last quarter. Trust Co. of Vermont bought a new position in shares of WESCO International during the 2nd quarter worth approximately $229,000. Quantbot Technologies LP bought a new position in shares of WESCO International during the 2nd quarter worth approximately $238,000. Finally, OppenheimerFunds Inc. lifted its position in shares of WESCO International by 14.3% during the 1st quarter. OppenheimerFunds Inc. now owns 5,009 shares of the technology company’s stock worth $348,000 after buying an additional 626 shares in the last quarter. 98.14% of the stock is currently owned by hedge funds and other institutional investors.
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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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