WESCO International (NYSE:WCC) Releases FY24 Earnings Guidance

WESCO International (NYSE:WCC) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $12-13 for the period, compared to the consensus estimate of $12.15. The company issued revenue guidance of down 1.5-3.5% yr/yr to ~$, compared to the consensus revenue estimate of $21.73 billion. WESCO International also updated its FY 2024 guidance to 12.000-13.000 EPS.

Analysts Set New Price Targets

Several research analysts have recently weighed in on WCC shares. StockNews.com cut WESCO International from a buy rating to a hold rating in a research note on Tuesday, July 2nd. Loop Capital decreased their target price on WESCO International from $200.00 to $190.00 and set a buy rating for the company in a research report on Tuesday, August 6th. Royal Bank of Canada dropped their price target on shares of WESCO International from $175.00 to $171.00 and set a sector perform rating on the stock in a report on Friday, August 2nd. Stephens reissued an overweight rating and set a $190.00 price objective on shares of WESCO International in a report on Monday, August 5th. Finally, Robert W. Baird dropped their target price on shares of WESCO International from $195.00 to $172.00 and set a neutral rating on the stock in a report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $184.71.

WESCO International Trading Up 5.4 %

Shares of WCC stock opened at $172.11 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.28 and a quick ratio of 1.34. The company has a market cap of $8.46 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 1.38 and a beta of 2.03. WESCO International has a 1 year low of $122.30 and a 1 year high of $195.43. The firm has a fifty day moving average price of $161.59 and a 200-day moving average price of $166.23.

WESCO International (NYSE:WCC) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $3.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.27). WESCO International had a net margin of 3.30% and a return on equity of 14.44%. The company had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.55 billion. During the same period in the prior year, the firm posted $3.71 EPS. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, equities analysts predict that WESCO International will post 12.14 earnings per share for the current year.

WESCO International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Friday, September 13th. WESCO International’s payout ratio is 13.74%.

About WESCO International

WESCO International, Inc provides business-to-business distribution, logistics services, and supply chain solutions in the United States, Canada, and internationally. It operates through three segments: Electrical & Electronic Solutions (EES), Communications & Security Solutions (CSS), and Utility and Broadband Solutions (UBS).