WESCO International, Inc. (NYSE:WCC) Receives $191.17 Average Target Price from Brokerages

WESCO International, Inc. (NYSE:WCC) has earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $191.17.

A number of equities research analysts recently weighed in on WCC shares. Baird R W cut WESCO International from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. Oppenheimer raised their price target on WESCO International from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. decreased their price objective on shares of WESCO International from $180.00 to $175.00 and set an “overweight” rating on the stock in a research report on Friday, March 15th. Royal Bank of Canada restated a “sector perform” rating and set a $172.00 target price on shares of WESCO International in a report on Thursday, June 20th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $195.00 price target (down previously from $200.00) on shares of WESCO International in a report on Wednesday, May 29th.

WESCO International Price Performance

Shares of NYSE WCC opened at $159.23 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.33 and a current ratio of 2.21. WESCO International has a one year low of $122.30 and a one year high of $195.43. The firm has a market capitalization of $8.09 billion, a P/E ratio of 13.26, a PEG ratio of 1.13 and a beta of 2.06. The company’s fifty day moving average is $171.96 and its two-hundred day moving average is $168.13.

WESCO International (NYSE:WCC) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $2.30 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.13). WESCO International had a return on equity of 15.10% and a net margin of 3.08%. The company had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.30 billion. During the same period in the prior year, the firm posted $3.75 EPS. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. Analysts forecast that WESCO International will post 14.07 EPS for the current fiscal year.

WESCO International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.4125 per share. The ex-dividend date was Friday, June 14th. This represents a $1.65 annualized dividend and a dividend yield of 1.04%. WESCO International’s dividend payout ratio is currently 13.74%.

Insider Activity

In related news, major shareholder Equity Investors Vii L. Green sold 1,750,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $173.02, for a total transaction of $302,785,000.00. Following the sale, the insider now owns 2,134,683 shares in the company, valued at $369,342,852.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other WESCO International news, major shareholder Equity Investors Vii L. Green sold 1,750,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $173.02, for a total value of $302,785,000.00. Following the sale, the insider now directly owns 2,134,683 shares of the company’s stock, valued at approximately $369,342,852.66. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Christine Ann Wolf sold 4,486 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $190.13, for a total transaction of $852,923.18. Following the transaction, the executive vice president now directly owns 30,304 shares of the company’s stock, valued at approximately $5,761,699.52. The disclosure for this sale can be found here. Insiders sold a total of 1,754,960 shares of company stock valued at $303,728,784 over the last 90 days. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On WESCO International

A number of large investors have recently bought and sold shares of WCC. Rise Advisors LLC purchased a new position in shares of WESCO International in the 1st quarter worth $26,000. KB Financial Partners LLC lifted its stake in shares of WESCO International by 76.8% in the 3rd quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock valued at $28,000 after purchasing an additional 86 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of WESCO International by 65.4% during the 2nd quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock worth $40,000 after purchasing an additional 100 shares during the period. Anchor Investment Management LLC acquired a new stake in WESCO International during the 4th quarter worth approximately $48,000. Finally, Richelieu Gestion SA purchased a new position in WESCO International in the fourth quarter valued at approximately $122,000. Hedge funds and other institutional investors own 93.76% of the company’s stock.

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).