WESCO International’s “Neutral” Rating Reaffirmed at Zacks (WCC)
WESCO International (NYSE:WCC)‘s stock had its “neutral” rating restated by Zacks in a research report issued on Friday. They currently have a $87.00 price objective on the stock. Zacks‘s price target suggests a potential upside of 4.40% from the company’s current price.
Zacks’ analyst wrote, “WESCO is one of the largest distributors of electrical products in the U.S. The company’s second quarter 2014 earnings missed the Zacks Consensus Estimate. WESCO’s strong market position, the turnaround in the industrial and utility markets, gradual recovery in the construction market, the global account model, restructuring benefits and the One WESCO initiative are positive factors. However, results bear a positive correlation to GDP growth, which has been sluggish in recent times. Additionally, while EECOL has been incremental to earnings, it resulted in a significant increase in debts, thus making the shares more risky. We have a Neutral recommendation on WESCO shares.”
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. set a $95.00 price target on shares of WESCO International in a research note on Wednesday, July 9th. Separately, analysts at Morgan Stanley initiated coverage on shares of WESCO International in a research note on Tuesday, May 13th. They set an “equal weight” rating and a $92.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $95.91.
Shares of WESCO International (NYSE:WCC) traded up 0.18% on Friday, hitting $83.33. 837,924 shares of the company’s stock traded hands. WESCO International has a one year low of $72.59 and a one year high of $94.75. The stock’s 50-day moving average is $87.22 and its 200-day moving average is $86.21. The company has a market cap of $3.703 billion and a price-to-earnings ratio of 18.01.
WESCO International (NYSE:WCC) last released its earnings data on Thursday, July 24th. The company reported $1.29 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.35 by $0.06. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. Analysts expect that WESCO International will post $5.46 EPS for the current fiscal year.
WESCO International, Inc (NYSE:WCC) is a distributor of products and provider of supply chain management and logistics services used primarily in industrial, construction, utility and commercial, institutional and government (CIG) markets.
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