WESCO International (NYSE:WCC) Announces Earnings Results

WESCO International (NYSE:WCC) issued its earnings results on Thursday. The technology company reported $2.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.13), Briefing.com reports. WESCO International had a net margin of 3.08% and a return on equity of 15.10%. The firm had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the previous year, the firm earned $3.75 earnings per share. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. WESCO International updated its FY24 guidance to $13.75-15.75 EPS.

WESCO International Stock Performance

NYSE:WCC opened at $167.70 on Friday. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 1.19 and a beta of 2.07. The business has a 50 day moving average of $161.27 and a 200 day moving average of $159.91. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.21 and a quick ratio of 1.42. WESCO International has a 1-year low of $121.90 and a 1-year high of $195.43.

WESCO International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.4125 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from WESCO International’s previous quarterly dividend of $0.38. This represents a $1.65 annualized dividend and a dividend yield of 0.98%. WESCO International’s dividend payout ratio is 13.74%.

Insider Buying and Selling at WESCO International

In other news, EVP Nelson John Squires III sold 3,490 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $190.00, for a total value of $663,100.00. Following the completion of the sale, the executive vice president now directly owns 54,385 shares in the company, valued at approximately $10,333,150. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP James Cameron sold 5,352 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $156.39, for a total value of $836,999.28. Following the sale, the executive vice president now directly owns 33,595 shares of the company’s stock, valued at $5,253,922.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Nelson John Squires III sold 3,490 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $190.00, for a total transaction of $663,100.00. Following the transaction, the executive vice president now directly owns 54,385 shares of the company’s stock, valued at approximately $10,333,150. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

WCC has been the subject of a number of research reports. Royal Bank of Canada cut their target price on shares of WESCO International from $176.00 to $172.00 and set a “sector perform” rating for the company in a research report on Friday. Robert W. Baird cut their price objective on shares of WESCO International from $203.00 to $170.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Oppenheimer boosted their target price on shares of WESCO International from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Friday. JPMorgan Chase & Co. cut their price target on WESCO International from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Friday, March 15th. Finally, KeyCorp increased their target price on shares of WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $188.67.

About WESCO International

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).