Zacks Investment Research cut shares of WESCO International (NYSE:WCC) from a buy rating to a hold rating in a report issued on Friday.
According to Zacks, “WESCO’s top-line growth continues to benefit from strengthening end-markets and robust product and services portfolio. Moreover, strong focus on growth and pricing strategies remain positive for the company’s market position. WESCO continues with its efforts on delivering above-average sales growth, profitability improvement, strong cash flow generation and increasing shareholder value. It continues to invest progressively in the One WESCO initiative aimed at creating extensive supply chain management solutions. Estimates have been stable lately ahead of the company’s Q1 earnings release. The company has positive record of earnings surprises in recent quarters. However, supplier concentration, a significant debt load and limited liquidity remain concerns. In the past year, the stock has underperformed the industry it belongs to. “
A number of other analysts also recently issued reports on the stock. UBS assumed coverage on shares of WESCO International in a report on Tuesday, January 23rd. They issued a neutral rating and a $70.00 price objective for the company. ValuEngine raised shares of WESCO International from a hold rating to a buy rating in a report on Wednesday, March 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $68.82.
Shares of WCC opened at $63.20 on Friday. WESCO International has a 52 week low of $48.95 and a 52 week high of $69.35. The stock has a market capitalization of $2,997.47, a P/E ratio of 16.08, a P/E/G ratio of 1.36 and a beta of 1.84. The company has a current ratio of 2.31, a quick ratio of 1.40 and a debt-to-equity ratio of 0.62.
WESCO International (NYSE:WCC) last announced its quarterly earnings results on Thursday, February 1st. The technology company reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.05. WESCO International had a net margin of 2.13% and a return on equity of 9.06%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the prior year, the business earned $0.96 EPS. WESCO International’s quarterly revenue was up 11.3% on a year-over-year basis. equities analysts expect that WESCO International will post 4.67 earnings per share for the current year.
In other news, Director Lynn M. Utter sold 737 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $63.57, for a total transaction of $46,851.09. Following the completion of the sale, the director now owns 11,116 shares of the company’s stock, valued at approximately $706,644.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lynn M. Utter sold 768 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $65.56, for a total transaction of $50,350.08. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
Several institutional investors have recently modified their holdings of WCC. SG Americas Securities LLC bought a new stake in shares of WESCO International during the 4th quarter worth approximately $140,000. ETRADE Capital Management LLC bought a new stake in shares of WESCO International during the 4th quarter worth approximately $201,000. Capital Fund Management S.A. bought a new stake in shares of WESCO International during the 4th quarter worth approximately $218,000. Xact Kapitalforvaltning AB bought a new stake in shares of WESCO International during the 4th quarter worth approximately $288,000. Finally, Nisa Investment Advisors LLC bought a new stake in shares of WESCO International during the 4th quarter worth approximately $375,000.
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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.
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