WESCO International, Inc. (WCC) Expected to Announce Quarterly Sales of $1.92 Billion
Wall Street analysts expect that WESCO International, Inc. (NYSE:WCC) will announce sales of $1.92 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for WESCO International’s earnings. The lowest sales estimate is $1.91 billion and the highest is $1.92 billion. WESCO International posted sales of $1.86 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 3.2%. The business is scheduled to issue its next earnings report before the market opens on Thursday, October 26th.
On average, analysts expect that WESCO International will report full-year sales of $1.92 billion for the current fiscal year, with estimates ranging from $7.47 billion to $7.53 billion. For the next financial year, analysts anticipate that the company will post sales of $7.85 billion per share, with estimates ranging from $7.72 billion to $7.99 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover WESCO International.
WESCO International (NYSE:WCC) last released its earnings results on Thursday, July 27th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.04. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.91 billion. WESCO International had a return on equity of 9.11% and a net margin of 1.41%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.02 earnings per share.
A number of brokerages recently weighed in on WCC. BidaskClub lowered shares of WESCO International from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. KeyCorp reaffirmed a “buy” rating and issued a $64.00 target price on shares of WESCO International in a research note on Thursday, October 12th. Zacks Investment Research raised shares of WESCO International from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Standpoint Research raised shares of WESCO International from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Thursday, August 3rd. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $70.00 target price (up from $68.00) on shares of WESCO International in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $66.21.
In other news, CFO David S. Schulz bought 4,000 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were bought at an average cost of $51.57 per share, with a total value of $206,280.00. Following the acquisition, the chief financial officer now owns 9,000 shares in the company, valued at $464,130. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Janney Capital Management LLC bought a new stake in shares of WESCO International in the 2nd quarter valued at about $202,000. D.A. Davidson & CO. raised its holdings in shares of WESCO International by 32.0% in the 2nd quarter. D.A. Davidson & CO. now owns 3,572 shares of the technology company’s stock valued at $204,000 after purchasing an additional 866 shares during the period. Trust Co. of Vermont bought a new stake in shares of WESCO International in the 2nd quarter valued at about $229,000. Quantbot Technologies LP bought a new stake in shares of WESCO International in the 2nd quarter valued at about $238,000. Finally, OppenheimerFunds Inc. raised its holdings in shares of WESCO International by 14.3% in the 1st quarter. OppenheimerFunds Inc. now owns 5,009 shares of the technology company’s stock valued at $348,000 after purchasing an additional 626 shares during the period. 98.12% of the stock is currently owned by institutional investors.
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WESCO International (NYSE WCC) traded up 1.06% during mid-day trading on Tuesday, hitting $62.00. The stock had a trading volume of 92,291 shares. The company has a 50-day moving average price of $56.87 and a 200 day moving average price of $57.75. The company has a market cap of $2.97 billion, a P/E ratio of 29.40 and a beta of 1.80. WESCO International has a 1-year low of $48.95 and a 1-year high of $76.15.
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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