WESCO International, Inc. (NYSE:WCC) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 756,300 shares, a decrease of 20.9% from the September 30th total of 956,200 shares. Currently, 1.8% of the shares of the stock are sold short. Based on an average daily volume of 407,900 shares, the short-interest ratio is presently 1.9 days.
Several research analysts recently issued reports on WCC shares. Royal Bank of Canada set a $52.00 price target on shares of WESCO International and gave the stock a “hold” rating in a research report on Friday, November 1st. Northcoast Research lowered shares of WESCO International from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. ValuEngine raised shares of WESCO International from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Wells Fargo & Co lowered shares of WESCO International from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $60.00 to $45.00 in a research report on Monday, September 23rd. Finally, Wolfe Research set a $52.00 price target on shares of WESCO International and gave the stock a “hold” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $54.00.
WESCO International stock traded up $0.43 during trading hours on Friday, hitting $54.11. 257,235 shares of the stock were exchanged, compared to its average volume of 487,778. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.46 and a current ratio of 2.33. The stock has a market capitalization of $2.24 billion, a P/E ratio of 11.23, a P/E/G ratio of 1.03 and a beta of 1.74. WESCO International has a 12 month low of $42.03 and a 12 month high of $57.94. The business’s 50-day moving average is $49.23 and its two-hundred day moving average is $48.80.
WESCO International (NYSE:WCC) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $1.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.08. The firm had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.15 billion. WESCO International had a net margin of 2.76% and a return on equity of 10.57%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.41 earnings per share. On average, equities analysts predict that WESCO International will post 5.18 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the business. Carroll Financial Associates Inc. grew its stake in WESCO International by 317.4% during the second quarter. Carroll Financial Associates Inc. now owns 697 shares of the technology company’s stock worth $35,000 after buying an additional 530 shares during the last quarter. Cerebellum GP LLC bought a new stake in shares of WESCO International during the third quarter valued at approximately $76,000. Machina Capital S.A.S. grew its stake in shares of WESCO International by 283.4% during the second quarter. Machina Capital S.A.S. now owns 1,986 shares of the technology company’s stock valued at $101,000 after purchasing an additional 1,468 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of WESCO International by 715.9% during the third quarter. Quadrant Capital Group LLC now owns 2,056 shares of the technology company’s stock valued at $97,000 after purchasing an additional 1,804 shares during the last quarter. Finally, Zebra Capital Management LLC bought a new stake in shares of WESCO International during the second quarter valued at approximately $242,000.
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.
Featured Article: Book Value Per Share – BVPS
Receive News & Ratings for WESCO International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WESCO International and related companies with MarketBeat.com's FREE daily email newsletter.