Zacks: Analysts Expect WESCO International, Inc. (WCC) Will Announce Earnings of $1.03 Per Share
Equities analysts forecast that WESCO International, Inc. (NYSE:WCC) will report earnings per share of $1.03 for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for WESCO International’s earnings, with the lowest EPS estimate coming in at $1.01 and the highest estimate coming in at $1.06. WESCO International posted earnings per share of $1.05 during the same quarter last year, which would suggest a negative year over year growth rate of 1.9%. The company is scheduled to report its next quarterly earnings results on Thursday, October 26th.
According to Zacks, analysts expect that WESCO International will report full year earnings of $3.74 per share for the current financial year, with EPS estimates ranging from $3.70 to $3.77. For the next fiscal year, analysts expect that the firm will post earnings of $4.19 per share, with EPS estimates ranging from $3.80 to $4.40. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover WESCO International.
WESCO International (NYSE:WCC) last posted its quarterly earnings data on Thursday, July 27th. The technology company reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.04. WESCO International had a net margin of 1.41% and a return on equity of 9.11%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the business earned $1.02 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis.
WCC has been the topic of a number of research reports. Zacks Investment Research upgraded shares of WESCO International from a “sell” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Tuesday, July 4th. UBS AG reiterated a “neutral” rating and set a $55.00 target price (down from $67.00) on shares of WESCO International in a research report on Monday, July 31st. TheStreet lowered shares of WESCO International from a “b-” rating to a “c” rating in a research report on Wednesday, June 14th. Credit Suisse Group upped their target price on shares of WESCO International from $70.00 to $76.00 and gave the stock an “outperform” rating in a research report on Monday, June 12th. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of WESCO International in a research report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. WESCO International presently has a consensus rating of “Buy” and a consensus target price of $68.46.
WESCO International (NYSE WCC) traded down 0.59% on Thursday, hitting $54.42. 283,320 shares of the company were exchanged. The stock has a 50 day moving average price of $51.23 and a 200 day moving average price of $60.09. WESCO International has a one year low of $48.95 and a one year high of $76.15. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 25.81 and a beta of 1.77.
In other WESCO International news, CFO David S. Schulz purchased 4,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $51.57 per share, with a total value of $206,280.00. Following the completion of the purchase, the chief financial officer now directly owns 9,000 shares in the company, valued at approximately $464,130. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.90% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wasatch Advisors Inc. raised its stake in shares of WESCO International by 20.3% during the second quarter. Wasatch Advisors Inc. now owns 2,490,581 shares of the technology company’s stock worth $142,710,000 after buying an additional 420,292 shares during the last quarter. Investec Asset Management LTD increased its stake in WESCO International by 24.5% in the second quarter. Investec Asset Management LTD now owns 1,103,602 shares of the technology company’s stock valued at $63,236,000 after purchasing an additional 217,004 shares in the last quarter. Polaris Capital Management LLC increased its stake in WESCO International by 1.5% in the second quarter. Polaris Capital Management LLC now owns 565,111 shares of the technology company’s stock valued at $32,381,000 after purchasing an additional 8,500 shares in the last quarter. Bank of New York Mellon Corp increased its stake in WESCO International by 5.4% in the second quarter. Bank of New York Mellon Corp now owns 437,185 shares of the technology company’s stock valued at $25,051,000 after purchasing an additional 22,204 shares in the last quarter. Finally, Frontier Capital Management Co. LLC increased its stake in WESCO International by 3.1% in the first quarter. Frontier Capital Management Co. LLC now owns 391,738 shares of the technology company’s stock valued at $27,245,000 after purchasing an additional 11,761 shares in the last quarter. 98.17% of the stock is owned by institutional investors and hedge funds.
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WESCO International Company Profile
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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