WESCO International, Inc. (NYSE:WCC) – Investment analysts at Northcoast Research upped their Q1 2018 EPS estimates for WESCO International in a research note issued on Thursday, Zacks Investment Research reports. Northcoast Research analyst R. Cieslak now forecasts that the technology company will post earnings per share of $0.86 for the quarter, up from their prior forecast of $0.79. Northcoast Research also issued estimates for WESCO International’s Q2 2018 earnings at $1.23 EPS, Q3 2018 earnings at $1.37 EPS, Q4 2018 earnings at $1.24 EPS, FY2018 earnings at $4.70 EPS and FY2019 earnings at $5.20 EPS.
WESCO International (NYSE:WCC) last released its quarterly earnings data on Thursday, February 1st. The technology company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.05. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.93 billion. WESCO International had a net margin of 2.13% and a return on equity of 9.10%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.96 earnings per share.
Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of WESCO International from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research report on Saturday. ValuEngine cut shares of WESCO International from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. UBS Group assumed coverage on shares of WESCO International in a research report on Tuesday, January 23rd. They set a “neutral” rating and a $70.00 price objective on the stock. Finally, Credit Suisse Group set a $70.00 price target on shares of WESCO International and gave the stock an “outperform” rating in a research report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $68.77.
Shares of WESCO International (NYSE WCC) opened at $62.80 on Monday. The stock has a market cap of $2,961.13, a P/E ratio of 16.03, a PEG ratio of 1.35 and a beta of 1.86. The company has a current ratio of 2.31, a quick ratio of 1.42 and a debt-to-equity ratio of 0.65. WESCO International has a 1 year low of $48.95 and a 1 year high of $73.30.
WESCO International declared that its board has authorized a share buyback plan on Wednesday, December 13th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the technology company to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
In related news, Director James Louis Singleton sold 3,288 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $64.25, for a total value of $211,254.00. Following the sale, the director now owns 19,477 shares in the company, valued at $1,251,397.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.90% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in WESCO International during the fourth quarter valued at $140,000. ETRADE Capital Management LLC bought a new position in WESCO International during the fourth quarter valued at $201,000. Capital Fund Management S.A. bought a new position in WESCO International during the fourth quarter valued at $218,000. Janney Capital Management LLC increased its position in WESCO International by 47.4% during the third quarter. Janney Capital Management LLC now owns 5,199 shares of the technology company’s stock valued at $302,000 after acquiring an additional 1,672 shares during the last quarter. Finally, Nisa Investment Advisors LLC bought a new position in WESCO International during the fourth quarter valued at $375,000.
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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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