WESCO International, Inc. (WCC) Forecasted to Earn Q1 2018 Earnings of $0.79 Per Share
WESCO International, Inc. (NYSE:WCC) – Equities research analysts at Oppenheimer Holdings issued their Q1 2018 earnings per share (EPS) estimates for WESCO International in a report issued on Thursday. Oppenheimer Holdings analyst C. Glynn forecasts that the technology company will post earnings of $0.79 per share for the quarter. Oppenheimer Holdings also issued estimates for WESCO International’s Q2 2018 earnings at $1.00 EPS, Q3 2018 earnings at $1.27 EPS, Q4 2018 earnings at $1.09 EPS and FY2019 earnings at $4.60 EPS.
Several other brokerages have also weighed in on WCC. Zacks Investment Research raised WESCO International from a “sell” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Tuesday, July 4th. Wells Fargo & Company boosted their price objective on WESCO International from $67.00 to $75.00 and gave the company an “outperform” rating in a report on Friday. Standpoint Research lowered WESCO International from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. They noted that the move was a valuation call. UBS AG reissued a “neutral” rating and issued a $55.00 price objective (down from $67.00) on shares of WESCO International in a report on Monday, July 31st. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of WESCO International in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $68.29.
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WESCO International (NYSE WCC) opened at 64.00 on Monday. The stock has a market cap of $3.07 billion, a P/E ratio of 30.35 and a beta of 1.80. WESCO International has a 12-month low of $48.95 and a 12-month high of $76.15. The stock has a 50 day moving average price of $57.95 and a 200-day moving average price of $57.69.
WESCO International (NYSE:WCC) last released its quarterly earnings data on Thursday, October 26th. The technology company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.09. WESCO International had a return on equity of 9.17% and a net margin of 2.52%. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the prior year, the business posted $1.05 EPS. The business’s revenue for the quarter was up 7.8% on a year-over-year basis.
A number of hedge funds have recently modified their holdings of WCC. Janney Capital Management LLC acquired a new position in WESCO International in the second quarter valued at approximately $202,000. D.A. Davidson & CO. boosted its stake in WESCO International by 32.0% in the second quarter. D.A. Davidson & CO. now owns 3,572 shares of the technology company’s stock valued at $204,000 after acquiring an additional 866 shares during the period. Trust Co. of Vermont acquired a new position in WESCO International in the second quarter valued at approximately $229,000. Quantbot Technologies LP acquired a new position in WESCO International in the second quarter valued at approximately $238,000. Finally, OppenheimerFunds Inc. boosted its stake in WESCO International by 14.3% in the first quarter. OppenheimerFunds Inc. now owns 5,009 shares of the technology company’s stock valued at $348,000 after acquiring an additional 626 shares during the period. Institutional investors own 98.21% of the company’s stock.
In related news, CFO David S. Schulz bought 4,000 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was bought at an average cost of $51.57 per share, for a total transaction 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.90% of the company’s stock.
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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