WESCO International (WCC) to Release Quarterly Earnings on Thursday

WESCO International (NYSE:WCC) is set to announce its earnings results before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $2.43 per share for the quarter. WESCO International has set its FY 2024 guidance at EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

WESCO International (NYSE:WCC) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported $2.65 earnings per share for the quarter, missing the consensus estimate of $3.86 by ($1.21). WESCO International had a net margin of 3.42% and a return on equity of 17.01%. The firm had revenue of $5.50 billion during the quarter, compared to analysts’ expectations of $5.59 billion. During the same period last year, the company earned $4.13 EPS. The business’s quarterly revenue was down 1.8% on a year-over-year basis. On average, analysts expect WESCO International to post $14 EPS for the current fiscal year and $17 EPS for the next fiscal year.

WESCO International Stock Performance

WESCO International stock opened at $159.51 on Thursday. The firm has a 50 day simple moving average of $159.37 and a 200-day simple moving average of $159.12. WESCO International has a 1-year low of $121.90 and a 1-year high of $195.43. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.48 and a quick ratio of 1.42. The stock has a market cap of $8.13 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 1.10 and a beta of 2.06.

WESCO International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.4125 dividend. This is a boost from WESCO International’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.65 annualized dividend and a dividend yield of 1.03%. WESCO International’s dividend payout ratio is 12.19%.

Insider Activity

In other news, EVP Nelson John Squires III sold 3,490 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $190.00, for a total value of $663,100.00. Following the sale, the executive vice president now directly owns 54,385 shares in the company, valued at approximately $10,333,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP James Cameron sold 5,352 shares of WESCO International stock in a transaction on Monday, March 11th. The shares were sold at an average price of $156.39, for a total transaction of $836,999.28. Following the sale, the executive vice president now directly owns 33,595 shares in the company, valued at approximately $5,253,922.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nelson John Squires III sold 3,490 shares of WESCO International stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $190.00, for a total transaction of $663,100.00. Following the sale, the executive vice president now owns 54,385 shares in the company, valued at $10,333,150. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. StockNews.com cut shares of WESCO International from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Oppenheimer increased their price objective on shares of WESCO International from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Robert W. Baird lowered their price objective on shares of WESCO International from $203.00 to $170.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. KeyCorp increased their target price on shares of WESCO International from $165.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. reduced their target price on shares of WESCO International from $180.00 to $175.00 and set an “overweight” rating on the stock in a report on Friday, March 15th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $184.67.

WESCO International Company Profile

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).