Zacks: Brokerages Anticipate WESCO International, Inc. (NYSE:WCC) Will Announce Quarterly Sales of $1.91 Billion
Equities analysts predict that WESCO International, Inc. (NYSE:WCC) will announce $1.91 billion in sales for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for WESCO International’s earnings. The highest sales estimate is $1.96 billion and the lowest is $1.90 billion. WESCO International also reported sales of $1.91 billion in the same quarter last year. The company is expected to report its next earnings results before the market opens on Thursday, July 27th.
On average, analysts expect that WESCO International will report full-year sales of $1.91 billion for the current financial year, with estimates ranging from $7.39 billion to $7.55 billion. For the next financial year, analysts anticipate that the company will report sales of $7.78 billion per share, with estimates ranging from $7.63 billion to $7.90 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for WESCO International.
WESCO International (NYSE:WCC) last released its quarterly earnings results on Thursday, April 27th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.03. WESCO International had a return on equity of 9.30% and a net margin of 1.41%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the previous year, the business posted $0.77 earnings per share. The firm’s revenue for the quarter was down .2% compared to the same quarter last year.
A number of brokerages have recently commented on WCC. Zacks Investment Research raised WESCO International from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a research note on Tuesday, March 28th. TheStreet lowered WESCO International from a “b-” rating to a “c” rating in a research note on Wednesday, June 14th. Raymond James Financial, Inc. raised WESCO International from a “market perform” rating to an “outperform” rating and set a $70.00 price target on the stock in a research note on Wednesday, April 19th. BidaskClub lowered WESCO International from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 21st. Finally, Barclays PLC restated an “equal weight” rating and set a $68.00 price objective (up from $65.00) on shares of WESCO International in a research report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $69.20.
Hedge funds have recently modified their holdings of the stock. Tyers Asset Management LLC raised its stake in WESCO International by 173.8% in the first quarter. Tyers Asset Management LLC now owns 8,848 shares of the technology company’s stock worth $615,000 after buying an additional 5,616 shares during the last quarter. Elkfork Partners LLC raised its stake in WESCO International by 173.8% in the first quarter. Elkfork Partners LLC now owns 12,166 shares of the technology company’s stock worth $846,000 after buying an additional 7,722 shares during the last quarter. Teachers Advisors LLC raised its stake in WESCO International by 110.7% in the fourth quarter. Teachers Advisors LLC now owns 267,333 shares of the technology company’s stock worth $17,791,000 after buying an additional 140,427 shares during the last quarter. Norges Bank bought a new stake in WESCO International during the fourth quarter worth about $29,213,000. Finally, DUPONT CAPITAL MANAGEMENT Corp bought a new stake in WESCO International during the first quarter worth about $146,000. Hedge funds and other institutional investors own 98.15% of the company’s stock.
WESCO International (NYSE WCC) traded down 0.70% on Friday, hitting $57.10. The company had a trading volume of 117,964 shares. The firm has a market capitalization of $2.79 billion, a PE ratio of 27.15 and a beta of 1.79. WESCO International has a 12-month low of $51.45 and a 12-month high of $76.15. The firm has a 50-day moving average price of $57.62 and a 200-day moving average price of $65.20.
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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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