Brokerages Anticipate WESCO International, Inc. (WCC) Will Announce Quarterly Sales of $2.11 Billion

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Wall Street brokerages predict that WESCO International, Inc. (NYSE:WCC) will report $2.11 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for WESCO International’s earnings, with estimates ranging from $2.10 billion to $2.13 billion. WESCO International reported sales of $2.00 billion during the same quarter last year, which would suggest a positive year over year growth rate of 5.5%. The firm is expected to report its next quarterly earnings results before the market opens on Thursday, November 1st.

According to Zacks, analysts expect that WESCO International will report full year sales of $8.29 billion for the current fiscal year, with estimates ranging from $8.20 billion to $8.34 billion. For the next year, analysts expect that the company will post sales of $8.65 billion, with estimates ranging from $8.50 billion to $8.81 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow WESCO International.

WESCO International (NYSE:WCC) last posted its quarterly earnings data 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). WESCO International had a net margin of 2.21% and a return on equity of 9.62%. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the previous year, the business posted $1.02 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year.

A number of brokerages recently issued reports on WCC. Standpoint Research upgraded shares of WESCO International from a “hold” rating to a “buy” rating in a research note on Friday. ValuEngine downgraded shares of WESCO International from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. UBS Group lifted their price target on shares of WESCO International from $68.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, August 30th. Royal Bank of Canada reiterated a “hold” rating and issued a $66.00 price target on shares of WESCO International in a research note on Friday, August 3rd. Finally, Zacks Investment Research upgraded shares of WESCO International from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Saturday, June 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $68.67.

In other news, SVP Christine Ann Wolf purchased 1,690 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The stock was bought at an average price of $59.20 per share, for a total transaction of $100,048.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. California Public Employees Retirement System raised its holdings in WESCO International by 8.9% during the second quarter. California Public Employees Retirement System now owns 140,164 shares of the technology company’s stock worth $8,003,000 after purchasing an additional 11,458 shares in the last quarter. Paloma Partners Management Co acquired a new stake in WESCO International during the second quarter worth approximately $484,000. Capital Fund Management S.A. acquired a new stake in WESCO International during the second quarter worth approximately $1,034,000. Golden Gate Private Equity Inc. raised its holdings in WESCO International by 63.2% during the second quarter. Golden Gate Private Equity Inc. now owns 29,452 shares of the technology company’s stock worth $1,682,000 after purchasing an additional 11,402 shares in the last quarter. Finally, Investec Asset Management North America Inc. raised its holdings in WESCO International by 22.9% during the second quarter. Investec Asset Management North America Inc. now owns 23,285 shares of the technology company’s stock worth $1,330,000 after purchasing an additional 4,340 shares in the last quarter. 98.44% of the stock is currently owned by institutional investors.

WESCO International stock traded down $0.30 during trading on Friday, reaching $51.82. The stock had a trading volume of 948,346 shares, compared to its average volume of 428,041. WESCO International has a 52-week low of $51.43 and a 52-week high of $69.35. The company has a quick ratio of 1.47, a current ratio of 2.39 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $2.89 billion, a P/E ratio of 13.19, a P/E/G ratio of 1.29 and a beta of 1.82.

About WESCO International

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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