Q2 2024 EPS Estimates for WESCO International, Inc. (NYSE:WCC) Cut by Analyst

WESCO International, Inc. (NYSE:WCC) – Stock analysts at Zacks Research reduced their Q2 2024 earnings estimates for WESCO International in a research report issued on Thursday, May 23rd. Zacks Research analyst R. Department now forecasts that the technology company will post earnings of $3.43 per share for the quarter, down from their prior forecast of $3.65. The consensus estimate for WESCO International’s current full-year earnings is $14.07 per share. Zacks Research also issued estimates for WESCO International’s Q3 2024 earnings at $4.06 EPS, Q4 2024 earnings at $4.00 EPS, FY2024 earnings at $13.78 EPS, Q2 2025 earnings at $4.31 EPS, Q3 2025 earnings at $4.29 EPS, Q4 2025 earnings at $4.18 EPS, FY2025 earnings at $16.00 EPS and FY2026 earnings at $18.36 EPS.

A number of other research analysts also recently issued reports on WCC. KeyCorp boosted their target price on shares of WESCO International from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. decreased their price objective on shares of WESCO International from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. Loop Capital upped their price objective on shares of WESCO International from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Robert W. Baird decreased their price objective on shares of WESCO International from $203.00 to $170.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Finally, StockNews.com upgraded shares of WESCO International from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, WESCO International presently has a consensus rating of “Moderate Buy” and an average target price of $187.00.

WESCO International Trading Up 2.4 %

NYSE WCC opened at $191.18 on Friday. The company has a market capitalization of $9.72 billion, a PE ratio of 15.92, a P/E/G ratio of 1.33 and a beta of 2.07. The company has a fifty day moving average of $169.50 and a 200 day moving average of $165.29. WESCO International has a 1 year low of $122.30 and a 1 year high of $195.43. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.21 and a quick ratio of 1.33.

WESCO International (NYSE:WCC) last posted its earnings results on Thursday, May 2nd. The technology company reported $2.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.13). The business had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.30 billion. WESCO International had a net margin of 3.08% and a return on equity of 15.10%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.75 earnings per share.

WESCO International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.4125 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.86%. This is a boost from WESCO International’s previous quarterly dividend of $0.38. WESCO International’s payout ratio is currently 13.74%.

Insider Transactions at WESCO International

In other news, major shareholder Equity Investors Vii L. Green sold 1,750,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $173.02, for a total transaction of $302,785,000.00. Following the completion of the sale, the insider now owns 2,134,683 shares of the company’s stock, valued at $369,342,852.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP James Cameron sold 5,352 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $156.39, for a total transaction of $836,999.28. Following the completion of the sale, the executive vice president now owns 33,595 shares of the company’s stock, valued at approximately $5,253,922.05. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Equity Investors Vii L. Green sold 1,750,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $173.02, for a total transaction of $302,785,000.00. Following the sale, the insider now directly owns 2,134,683 shares of the company’s stock, valued at approximately $369,342,852.66. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of WESCO International

Several large investors have recently bought and sold shares of WCC. NBC Securities Inc. purchased a new stake in WESCO International during the 3rd quarter valued at about $250,000. Schechter Investment Advisors LLC grew its stake in WESCO International by 95.9% during the 3rd quarter. Schechter Investment Advisors LLC now owns 2,343 shares of the technology company’s stock valued at $337,000 after acquiring an additional 1,147 shares in the last quarter. J. L. Bainbridge & Co. Inc. grew its stake in WESCO International by 4.5% during the 3rd quarter. J. L. Bainbridge & Co. Inc. now owns 164,213 shares of the technology company’s stock valued at $23,617,000 after acquiring an additional 7,048 shares in the last quarter. New York State Common Retirement Fund grew its stake in WESCO International by 29.8% during the 3rd quarter. New York State Common Retirement Fund now owns 69,402 shares of the technology company’s stock valued at $9,981,000 after acquiring an additional 15,916 shares in the last quarter. Finally, Leuthold Group LLC grew its stake in WESCO International by 22.2% during the 3rd quarter. Leuthold Group LLC now owns 34,415 shares of the technology company’s stock valued at $4,950,000 after acquiring an additional 6,249 shares in the last quarter. Hedge funds and other institutional investors own 93.76% of the company’s stock.

WESCO International Company Profile

WESCO International, Inc provides business-to-business distribution, logistics services, and supply chain solutions in the United States, Canada, and internationally. It operates through three segments: Electrical & Electronic Solutions (EES), Communications & Security Solutions (CSS), and Utility and Broadband Solutions (UBS).