WESCO International, Inc. (NYSE:WCC) Given Consensus Recommendation of "Buy" by Brokerages

WESCO International, Inc. (NYSE:WCC - Get Free Report) has earned an average recommendation of "Buy" from the eight brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $216.57.

A number of equities analysts have issued reports on WCC shares. Loop Capital lowered their price target on WESCO International from $250.00 to $220.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Royal Bank of Canada raised their target price on WESCO International from $212.00 to $213.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 12th. Stephens raised their target price on WESCO International from $205.00 to $215.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Oppenheimer decreased their target price on WESCO International from $225.00 to $195.00 and set an "outperform" rating on the stock in a research report on Monday, May 5th. Finally, StockNews.com downgraded WESCO International from a "buy" rating to a "hold" rating in a research report on Wednesday, February 12th.

Institutional Investors Weigh In On WESCO International

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its holdings in shares of WESCO International by 88.2% in the first quarter. Bank of New York Mellon Corp now owns 758,786 shares of the technology company's stock valued at $117,839,000 after purchasing an additional 355,570 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of WESCO International by 6,769.8% in the first quarter. Pacer Advisors Inc. now owns 456,290 shares of the technology company's stock valued at $70,862,000 after purchasing an additional 449,648 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of WESCO International by 21.2% in the first quarter. Ameriprise Financial Inc. now owns 309,081 shares of the technology company's stock valued at $48,001,000 after purchasing an additional 54,046 shares during the last quarter. Davis Selected Advisers increased its holdings in shares of WESCO International by 0.6% in the first quarter. Davis Selected Advisers now owns 258,503 shares of the technology company's stock valued at $40,146,000 after purchasing an additional 1,516 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of WESCO International by 62.9% in the fourth quarter. Russell Investments Group Ltd. now owns 215,002 shares of the technology company's stock valued at $38,906,000 after purchasing an additional 83,031 shares during the last quarter. Institutional investors and hedge funds own 93.76% of the company's stock.

WESCO International Stock Down 1.1%

Shares of WCC opened at $171.34 on Tuesday. WESCO International has a 52 week low of $125.21 and a 52 week high of $216.17. The company has a quick ratio of 1.27, a current ratio of 2.20 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $8.36 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.45 and a beta of 1.92. The stock's 50-day moving average price is $157.74 and its 200-day moving average price is $178.74.

WESCO International (NYSE:WCC - Get Free Report) last issued its earnings results on Thursday, May 1st. The technology company reported $2.21 EPS for the quarter, missing analysts' consensus estimates of $2.23 by ($0.02). The company had revenue of $5.34 billion during the quarter, compared to analysts' expectations of $5.27 billion. WESCO International had a return on equity of 13.63% and a net margin of 3.29%. The firm's quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.30 EPS. On average, sell-side analysts predict that WESCO International will post 13.3 EPS for the current year.

WESCO International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.4538 dividend. This represents a $1.82 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Friday, March 14th. This is a boost from WESCO International's previous quarterly dividend of $0.41. WESCO International's dividend payout ratio (DPR) is currently 13.69%.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.