WESCO International (WCC) Set to Announce Earnings on Thursday

WESCO International (NYSE:WCC - Get Free Report) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, May 2nd. Analysts expect WESCO International to post earnings of $2.43 per share for the quarter. WESCO International has set its FY 2024 guidance at EPS.Individual interested in participating in the company's earnings conference call can do so using this link.

WESCO International (NYSE:WCC - Get Free Report) last posted its earnings results on Tuesday, February 13th. The technology company reported $2.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.86 by ($1.21). The company had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.59 billion. WESCO International had a net margin of 3.42% and a return on equity of 17.01%. The business's quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.13 earnings per share. 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

WCC stock traded down $2.29 during mid-day trading on Thursday, reaching $157.30. The company had a trading volume of 674,924 shares, compared to its average volume of 571,920. The company has a quick ratio of 1.42, a current ratio of 2.48 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $8.01 billion, a P/E ratio of 11.62, a P/E/G ratio of 1.12 and a beta of 2.06. WESCO International has a one year low of $121.90 and a one year high of $195.43. The stock's 50-day simple moving average is $159.56 and its two-hundred day simple moving average is $159.11.

WESCO International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 1.05%. This is a boost from WESCO International's previous quarterly dividend of $0.38. The ex-dividend date was Thursday, March 14th. WESCO International's dividend payout ratio (DPR) is presently 12.19%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on WCC shares. JPMorgan Chase & Co. cut their target price on 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 shares of WESCO International from an "outperform" rating to a "sector perform" rating and cut their price objective for the company from $202.00 to $173.00 in a research note on Tuesday, February 13th. Robert W. Baird cut their price objective on shares of WESCO International from $203.00 to $170.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 14th. Oppenheimer lifted their price objective on shares of WESCO International from $175.00 to $190.00 and gave the company an "outperform" rating in a research note on Thursday, March 7th. Finally, StockNews.com cut shares of WESCO International from a "buy" rating to a "hold" rating in a research note on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $184.67.

Insider Buying and Selling

In related news, EVP Nelson John Squires III sold 3,490 shares of WESCO International 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 transaction, the executive vice president now owns 54,385 shares of the company's stock, valued at approximately $10,333,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other WESCO International news, EVP Nelson John Squires III sold 3,490 shares of the firm's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $190.00, for a total transaction of $663,100.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James Cameron sold 5,352 shares of the firm's stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $156.39, for a total value of $836,999.28. Following 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. 3.10% of the stock is owned by corporate insiders.

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).