WESCO International (NYSE:WCC - Free Report) had its target price upped by KeyCorp from $165.00 to $190.00 in a report released on Thursday morning, Benzinga reports. KeyCorp currently has an overweight rating on the technology company's stock.
Other research analysts also recently issued reports about the stock. StockNews.com downgraded shares of WESCO International from a buy rating to a hold rating in a research report on Wednesday, February 14th. JPMorgan Chase & Co. dropped their price target on shares of WESCO International from $180.00 to $175.00 and set an overweight rating on the stock in a research note on Friday, March 15th. Royal Bank of Canada cut WESCO International from an outperform rating to a sector perform rating and reduced their price objective for the company from $202.00 to $173.00 in a research report on Tuesday, February 13th. Oppenheimer boosted their target price on WESCO International from $175.00 to $190.00 and gave the company an outperform rating in a research note on Thursday, March 7th. Finally, Robert W. Baird cut their price target on WESCO International from $203.00 to $170.00 and set an outperform rating for the company in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $184.67.
Get Our Latest Research Report on WCC
WESCO International Stock Down 1.0 %
Shares of WCC traded down $1.64 during mid-day trading on Thursday, reaching $165.38. The company's stock had a trading volume of 594,939 shares, compared to its average volume of 579,145. The company has a market cap of $8.43 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.21 and a beta of 2.06. The business has a fifty day moving average of $163.18 and a 200 day moving average of $158.13. The company has a quick ratio of 1.42, a current ratio of 2.48 and a debt-to-equity ratio of 1.06. WESCO International has a 1 year low of $121.90 and a 1 year high of $195.43.
WESCO International (NYSE:WCC - Get Free Report) 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 business had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.59 billion. During the same period in the previous year, the firm posted $4.13 earnings per share. The firm's quarterly revenue was down 1.8% on a year-over-year basis. As a group, analysts forecast that WESCO International will post 14.23 earnings per share for the current fiscal year.
WESCO International Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.4125 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from WESCO International's previous quarterly dividend of $0.38. This represents a $1.65 dividend on an annualized basis and a yield of 1.00%. WESCO International's dividend payout ratio is currently 12.19%.
Insiders Place Their Bets
In other WESCO International news, EVP Nelson John Squires III sold 3,490 shares of the business's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $190.00, for a total value of $663,100.00. Following the completion of the sale, the executive vice president now owns 54,385 shares of the company's stock, valued at $10,333,150. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other WESCO International news, EVP Nelson John Squires III sold 3,490 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 54,385 shares in the company, valued at $10,333,150. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP James Cameron sold 5,352 shares of the business's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $156.39, for a total transaction of $836,999.28. Following the completion of the sale, the executive vice president now owns 33,595 shares of the company's stock, valued at $5,253,922.05. The disclosure for this sale can be found here. Company insiders own 2.60% of the company's stock.
Institutional Investors Weigh In On WESCO International
A number of hedge funds have recently bought and sold shares of the company. Polianta Ltd increased its stake in shares of WESCO International by 31.5% in the first quarter. Polianta Ltd now owns 7,100 shares of the technology company's stock worth $1,216,000 after purchasing an additional 1,700 shares during the period. Rise Advisors LLC bought a new position in WESCO International in the 1st quarter worth approximately $26,000. Public Employees Retirement System of Ohio increased its position in WESCO International by 0.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 98,549 shares of the technology company's stock worth $17,136,000 after buying an additional 505 shares during the period. Venator Management LLC lifted its holdings in shares of WESCO International by 76.2% during the fourth quarter. Venator Management LLC now owns 33,475 shares of the technology company's stock worth $5,821,000 after buying an additional 14,475 shares during the last quarter. Finally, Brevan Howard Capital Management LP bought a new stake in shares of WESCO International in the fourth quarter valued at approximately $1,342,000. 93.76% of the stock is currently owned by institutional investors.
About WESCO International
(
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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).
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