Q3 2016 Earnings Estimate for Wesco International Inc. Issued By William Blair (WCC)
Wesco International Inc. (NYSE:WCC) – Equities research analysts at William Blair lowered their Q3 2016 earnings per share estimates for Wesco International in a research note issued to investors on Friday. William Blair analyst R. Merkel now forecasts that the brokerage will earn $1.11 per share for the quarter, down from their prior estimate of $1.12.
Wesco International (NYSE:WCC) last posted its earnings results on Thursday, July 28th. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.97 by $0.05. Wesco International had a net margin of 2.65% and a return on equity of 10.73%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the company earned $1.00 EPS. The firm’s revenue was down .3% compared to the same quarter last year.
A number of other brokerages also recently issued reports on WCC. Zacks Investment Research downgraded shares of Wesco International from a “buy” rating to a “hold” rating in a report on Monday, July 4th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Wesco International in a report on Wednesday, September 7th. They noted that the move was a valuation call. TheStreet downgraded shares of Wesco International from a “buy” rating to a “hold” rating in a report on Tuesday, June 14th. Credit Suisse Group AG started coverage on shares of Wesco International in a report on Saturday, June 18th. They issued a “buy” rating on the stock. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of Wesco International in a report on Sunday, September 4th. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $59.71.
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Shares of Wesco International (NYSE:WCC) opened at 61.74 on Monday. The firm has a market capitalization of $2.61 billion, a P/E ratio of 15.10 and a beta of 2.05. Wesco International has a 52-week low of $34.00 and a 52-week high of $63.90. The company’s 50-day moving average is $60.28 and its 200 day moving average is $56.86.
In other news, Director James Louis Singleton sold 2,638 shares of the stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $63.29, for a total transaction of $166,959.02. Following the completion of the sale, the director now owns 12,305 shares of the company’s stock, valued at $778,783.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new stake in shares of Wesco International during the second quarter worth approximately $218,000. Janus Capital Management LLC acquired a new stake in shares of Wesco International during the second quarter worth approximately $278,000. Oregon Public Employees Retirement Fund raised its stake in shares of Wesco International by 8.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 6,414 shares of the company’s stock worth $330,000 after buying an additional 500 shares during the last quarter. Neuberger Berman Group LLC acquired a new stake in shares of Wesco International during the second quarter worth approximately $334,000. Finally, Nomura Holdings Inc. acquired a new stake in shares of Wesco International during the second quarter worth approximately $524,000.
About Wesco International
WESCO International, Inc is a distributor of products and provider of supply chain management and logistics services used in industrial, construction, utility and commercial, institutional and government (CIG) markets. The Company is a provider of electrical, industrial and communications maintenance, repair and operating (MRO) and original equipment manufacturers (OEM) products, construction materials, and supply chain management and logistics services.
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