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

Key Points

• WESCO International has received a consensus rating of "Buy" from ten analysts, with an average 1-year target price of approximately $232.67.
• The company's recent quarterly earnings showed significant growth, with earnings per share of $3.39, surpassing expectations and representing a 7.7% increase year-over-year.
• A recent dividend of $0.4538 per share was announced, with a dividend yield of 0.9%, and a payout ratio of 14.25%.

WESCO International, Inc. (NYSE:WCC - Get Free Report) has been given a consensus recommendation of "Buy" by the ten analysts that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $232.6667.

A number of research analysts have commented on WCC shares. Oppenheimer increased their price target on shares of WESCO International from $225.00 to $255.00 and gave the company an "outperform" rating in a research report on Friday, September 5th. Loop Capital increased their price target on shares of WESCO International from $220.00 to $235.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. KeyCorp increased their price target on shares of WESCO International from $240.00 to $258.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Stephens cut shares of WESCO International from an "overweight" rating to an "equal weight" rating and increased their price target for the company from $190.00 to $200.00 in a research report on Wednesday, July 16th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $240.00 price target (up from $230.00) on shares of WESCO International in a research report on Friday, August 1st.

WESCO International Price Performance

WCC traded up $2.66 on Monday, reaching $211.43. The company had a trading volume of 646,336 shares, compared to its average volume of 658,503. The business has a 50 day simple moving average of $212.56 and a 200 day simple moving average of $182.88. The company has a market cap of $10.29 billion, a price-to-earnings ratio of 16.92, a P/E/G ratio of 1.61 and a beta of 1.81. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.19 and a current ratio of 2.09. WESCO International has a 52-week low of $125.21 and a 52-week high of $228.35.

WESCO International (NYSE:WCC - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The technology company reported $3.39 EPS for the quarter, beating analysts' consensus estimates of $3.31 by $0.08. WESCO International had a net margin of 2.98% and a return on equity of 12.96%. The business had revenue of $5.90 billion for the quarter, compared to analysts' expectations of $5.82 billion. During the same period last year, the business earned $3.21 earnings per share. The business's quarterly revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts anticipate that WESCO International will post 13.3 EPS for the current year.

WESCO International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th will be issued a $0.4538 dividend. The ex-dividend date is Friday, September 12th. This represents a $1.82 annualized dividend and a dividend yield of 0.9%. WESCO International's dividend payout ratio (DPR) is currently 14.25%.

Insider Transactions at WESCO International

In other news, EVP James Cameron sold 10,325 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $226.45, for a total value of $2,338,096.25. Following the transaction, the executive vice president owned 45,706 shares in the company, valued at approximately $10,350,123.70. This trade represents a 18.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nelson John Squires III sold 13,780 shares of the firm's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $219.59, for a total value of $3,025,950.20. Following the completion of the sale, the executive vice president directly owned 48,625 shares of the company's stock, valued at $10,677,563.75. The trade was a 22.08% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 136,131 shares of company stock valued at $30,384,421. 3.10% of the stock is currently owned by insiders.

Institutional Trading of WESCO International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WCC. MassMutual Private Wealth & Trust FSB lifted its stake in WESCO International by 53.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 17,888 shares of the technology company's stock worth $2,778,000 after acquiring an additional 6,218 shares during the period. Versant Capital Management Inc lifted its stake in WESCO International by 2,208.3% in the first quarter. Versant Capital Management Inc now owns 1,939 shares of the technology company's stock worth $301,000 after acquiring an additional 1,855 shares during the period. GAMMA Investing LLC lifted its stake in WESCO International by 19,737.1% in the first quarter. GAMMA Investing LLC now owns 74,389 shares of the technology company's stock worth $11,553,000 after acquiring an additional 74,014 shares during the period. Parallel Advisors LLC lifted its position in WESCO International by 21.1% during the first quarter. Parallel Advisors LLC now owns 447 shares of the technology company's stock valued at $69,000 after buying an additional 78 shares during the period. Finally, NBC Securities Inc. lifted its position in WESCO International by 101,900.0% during the first quarter. NBC Securities Inc. now owns 1,020 shares of the technology company's stock valued at $158,000 after buying an additional 1,019 shares during the period. Hedge funds and other institutional investors own 93.75% 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).