Brokerages predict that WESCO International, Inc. (NYSE:WCC) will post $1.92 billion in sales for the current quarter, Zacks reports. Six analysts have issued estimates for WESCO International’s earnings. The lowest sales estimate is $1.90 billion and the highest is $1.95 billion. WESCO International reported sales of $1.77 billion in the same quarter last year, which indicates a positive year over year growth rate of 8.5%. The company is scheduled to report its next quarterly earnings report before the market opens on Thursday, April 26th.
According to Zacks, analysts expect that WESCO International will report full-year sales of $1.92 billion for the current financial year, with estimates ranging from $8.03 billion to $8.17 billion. For the next financial year, analysts forecast that the firm will report sales of $8.43 billion per share, with estimates ranging from $8.31 billion to $8.64 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for WESCO International.
WESCO International (NYSE:WCC) last issued its earnings results on Thursday, February 1st. The technology company reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.05. WESCO International had a net margin of 2.13% and a return on equity of 9.06%. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter last year, the company posted $0.96 earnings per share. WESCO International’s revenue was up 11.3% on a year-over-year basis.
WESCO International (NYSE WCC) opened at $63.45 on Wednesday. WESCO International has a 12 month low of $48.95 and a 12 month high of $70.95. The company has a current ratio of 2.31, a quick ratio of 1.40 and a debt-to-equity ratio of 0.62. The company has a market cap of $2,997.47, a P/E ratio of 16.21, a P/E/G ratio of 1.36 and a beta of 1.86.
WESCO International declared that its board has approved a stock repurchase plan on Wednesday, December 13th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In other WESCO International news, Director Lynn M. Utter sold 768 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $65.56, for a total value of $50,350.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.90% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. UBS Asset Management Americas Inc. increased its stake in WESCO International by 3.4% during the 4th quarter. UBS Asset Management Americas Inc. now owns 49,639 shares of the technology company’s stock valued at $3,383,000 after purchasing an additional 1,613 shares in the last quarter. Janney Capital Management LLC boosted its holdings in shares of WESCO International by 47.4% in the 3rd quarter. Janney Capital Management LLC now owns 5,199 shares of the technology company’s stock worth $302,000 after buying an additional 1,672 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of WESCO International in the 4th quarter worth about $140,000. New York State Common Retirement Fund boosted its holdings in shares of WESCO International by 1.2% in the 3rd quarter. New York State Common Retirement Fund now owns 211,054 shares of the technology company’s stock worth $12,294,000 after buying an additional 2,600 shares during the last quarter. Finally, ETRADE Capital Management LLC purchased a new position in shares of WESCO International in the 4th quarter worth about $201,000.
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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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