WESCO International (NYSE:WCC) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS

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WESCO International (NYSE:WCC) issued its quarterly earnings results on Thursday, August 2nd. The technology company reported $1.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($0.01), Bloomberg Earnings reports. WESCO International had a return on equity of 9.62% and a net margin of 2.21%. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the previous year, the firm posted $1.02 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. WESCO International updated its FY18 guidance to $4.60-5.00 EPS.

Shares of WESCO International stock opened at $61.45 on Friday. WESCO International has a 52 week low of $48.95 and a 52 week high of $69.35. The firm has a market capitalization of $2.91 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 1.29 and a beta of 1.80. The company has a current ratio of 2.39, a quick ratio of 1.47 and a debt-to-equity ratio of 0.58.

WCC has been the subject of several analyst reports. ValuEngine cut WESCO International from a “hold” rating to a “sell” rating in a report on Monday, May 7th. Zacks Investment Research cut WESCO International from a “buy” rating to a “hold” rating in a report on Friday, May 4th. KeyCorp restated an “equal weight” rating on shares of WESCO International in a report on Friday, June 29th. Royal Bank of Canada restated a “hold” rating and issued a $66.00 target price on shares of WESCO International in a report on Friday, August 3rd. Finally, Wolfe Research initiated coverage on WESCO International in a report on Wednesday, June 27th. They issued a “market perform” rating for the company. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $68.25.

In other WESCO International news, SVP Christine Ann Wolf purchased 1,690 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The shares were acquired at an average price of $59.20 per share, with a total value of $100,048.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Lynn M. Utter sold 1,327 shares of the company’s stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $61.71, for a total value of $81,889.17. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

WESCO International Company Profile

WESCO International, Inc distributes electrical, industrial, and communications maintenance, repair and operating (MRO) and original equipment manufacturers products and construction materials in North America and internationally. The company sells general supplies, such as wiring devices, fuses, terminals, connectors, boxes, enclosures, fittings, lugs, terminations, wraps, splicing and marking equipment, tools and testers, safety, personal protection, sealants, cutting tools, adhesives, consumables, fasteners, janitorial, and other MRO supplies.

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Earnings History for WESCO International (NYSE:WCC)

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