Analysts expect WESCO International, Inc. (NYSE:WCC) to report sales of $2.18 billion for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for WESCO International’s earnings, with estimates ranging from $2.15 billion to $2.20 billion. WESCO International reported sales of $2.10 billion in the same quarter last year, which indicates a positive year over year growth rate of 3.8%. The company is expected to report its next earnings report before the market opens on Thursday, August 1st.
According to Zacks, analysts expect that WESCO International will report full-year sales of $8.46 billion for the current year, with estimates ranging from $8.41 billion to $8.57 billion. For the next financial year, analysts expect that the firm will report sales of $8.76 billion, with estimates ranging from $8.70 billion to $8.87 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow WESCO International.
WESCO International (NYSE:WCC) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.93 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.02). The firm had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2 billion. WESCO International had a net margin of 2.77% and a return on equity of 10.34%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.93 EPS.
Several equities analysts have recently issued reports on the stock. ValuEngine downgraded shares of Zebra Technologies from a “buy” rating to a “hold” rating in a report on Friday. Zacks Investment Research downgraded shares of German American Bancorp. from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. William Blair restated a “market perform” rating on shares of Luminex in a report on Tuesday, May 7th. Northcoast Research restated a “buy” rating on shares of WESCO International in a report on Friday, May 3rd. Finally, TheStreet downgraded shares of WESCO International from a “b-” rating to a “c+” rating in a report on Friday, May 24th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $62.71.
NYSE:WCC traded up $1.27 during mid-day trading on Friday, reaching $50.18. The company’s stock had a trading volume of 304,458 shares, compared to its average volume of 538,251. WESCO International has a 1 year low of $43.94 and a 1 year high of $63.20. The business’s fifty day simple moving average is $49.12. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 0.91 and a beta of 1.74. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.18 and a quick ratio of 1.31.
In other WESCO International news, Director Lynn M. Utter sold 1,513 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $48.97, for a total transaction of $74,091.61. Following the completion of the sale, the director now directly owns 11,151 shares of the company’s stock, valued at $546,064.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John K. Morgan sold 3,077 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $51.29, for a total transaction of $157,819.33. Following the sale, the director now directly owns 25,984 shares of the company’s stock, valued at $1,332,719.36. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in WCC. Norges Bank acquired a new stake in WESCO International in the 4th quarter valued at about $37,803,000. New York State Common Retirement Fund increased its stake in WESCO International by 16.6% in the first quarter. New York State Common Retirement Fund now owns 208,584 shares of the technology company’s stock valued at $11,057,000 after purchasing an additional 29,766 shares during the period. Parametric Portfolio Associates LLC increased its stake in WESCO International by 12.4% in the first quarter. Parametric Portfolio Associates LLC now owns 190,375 shares of the technology company’s stock valued at $10,092,000 after purchasing an additional 20,960 shares during the period. BNP Paribas Arbitrage SA increased its stake in WESCO International by 75.2% in the first quarter. BNP Paribas Arbitrage SA now owns 293,472 shares of the technology company’s stock valued at $15,557,000 after purchasing an additional 125,940 shares during the period. Finally, Frontier Capital Management Co. LLC increased its stake in WESCO International by 1.8% in the first quarter. Frontier Capital Management Co. LLC now owns 555,285 shares of the technology company’s stock valued at $29,436,000 after purchasing an additional 9,678 shares during the period. 98.48% of the stock is owned by institutional investors and hedge funds.
About WESCO International
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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