WESCO International (NYSE:WCC) released its quarterly earnings results on Thursday. The technology company reported $1.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.05, MarketWatch Earnings reports. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.11 billion. WESCO International had a net margin of 2.21% and a return on equity of 9.62%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.12 EPS.
Shares of WCC opened at $53.36 on Friday. WESCO International has a 12 month low of $47.44 and a 12 month high of $69.35. The company has a market cap of $2.33 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 1.04 and a beta of 1.82. The company has a current ratio of 2.39, a quick ratio of 1.47 and a debt-to-equity ratio of 0.58.
WCC has been the topic of several research analyst reports. ValuEngine cut shares of WESCO International from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Standpoint Research raised shares of WESCO International from a “hold” rating to a “buy” rating in a report on Friday, October 12th. UBS Group increased their price target on shares of WESCO International from $68.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, August 30th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $66.00 price target on shares of WESCO International in a report on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $65.00.
In other WESCO International news, SVP Christine Ann Wolf bought 1,690 shares of the stock in a transaction dated Tuesday, August 14th. The shares were bought at an average cost of $59.20 per share, with a total value of $100,048.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in WCC. SG Americas Securities LLC increased its holdings in shares of WESCO International by 66.4% during the second quarter. SG Americas Securities LLC now owns 4,398 shares of the technology company’s stock worth $251,000 after purchasing an additional 1,755 shares during the period. Ramsey Quantitative Systems bought a new position in shares of WESCO International during the third quarter worth approximately $400,000. Xact Kapitalforvaltning AB increased its holdings in shares of WESCO International by 73.4% during the first quarter. Xact Kapitalforvaltning AB now owns 7,323 shares of the technology company’s stock worth $454,000 after purchasing an additional 3,100 shares during the period. Sun Life Financial INC bought a new position in shares of WESCO International during the second quarter worth approximately $470,000. Finally, Paloma Partners Management Co bought a new position in shares of WESCO International during the second quarter worth approximately $484,000. 98.47% of the stock is currently owned by institutional investors.
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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