WESCO International, Inc. (NYSE:WCC) released its quarterly earnings data on Wednesday. The technology company reported $1.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.09, MarketWatch Earnings reports. WESCO International had a net margin of 1.41% and a return on equity of 9.11%. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis.
Shares of WESCO International (WCC) traded up 6.793% during mid-day trading on Thursday, hitting $63.275. 945,016 shares of the stock traded hands. The company’s 50-day moving average price is $57.23 and its 200 day moving average price is $57.70. The company has a market capitalization of $3.04 billion, a PE ratio of 30.002 and a beta of 1.80. WESCO International has a 1-year low of $48.95 and a 1-year high of $76.15.
In related news, CFO David S. Schulz purchased 4,000 shares of the stock in a transaction dated Friday, August 11th. The stock was purchased at an average price of $51.57 per share, with a total value of $206,280.00. Following the transaction, the chief financial officer now directly owns 9,000 shares in the company, valued at $464,130. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is owned by insiders.
Several research analysts have weighed in on the stock. Standpoint Research downgraded shares of WESCO International from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. They noted that the move was a valuation call. Robert W. Baird restated a “hold” rating and set a $56.00 price objective on shares of WESCO International in a report on Wednesday, October 4th. Wells Fargo & Company upped their price objective on shares of WESCO International from $65.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, October 6th. BidaskClub upgraded shares of WESCO International from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Finally, Zacks Investment Research upgraded shares of WESCO International from a “sell” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. WESCO International presently has a consensus rating of “Buy” and an average price target of $66.21.
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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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