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

Key Points

• WESCO International, Inc. has received a consensus rating of "Buy" from analysts, with an average 12-month price objective of $217.33.
• The company reported earnings of $3.39 per share for the last quarter, exceeding expectations and showing a 7.7% year-over-year revenue growth.
• WESCO recently announced a quarterly dividend of $0.4538 per share, reflecting an annualized yield of 0.9% and a payout ratio of 13.77%.

Shares of WESCO International, Inc. (NYSE:WCC - Get Free Report) have received a consensus recommendation of "Buy" from the ten brokerages that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $221.7778.

Several research analysts have recently issued reports on WCC shares. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $240.00 target price (up previously from $230.00) on shares of WESCO International in a research note on Friday, August 1st. KeyCorp lifted their target price on shares of WESCO International from $210.00 to $240.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Loop Capital increased their price target on WESCO International from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price objective on WESCO International from $180.00 to $205.00 and gave the stock an "overweight" rating in a research note on Monday. Finally, Oppenheimer cut their target price on WESCO International from $225.00 to $195.00 and set an "outperform" rating on the stock in a research note on Monday, May 5th.

Insider Activity

In related news, EVP Christine Ann Wolf sold 3,106 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $177.14, for a total transaction of $550,196.84. Following the completion of the transaction, the executive vice president directly owned 30,181 shares in the company, valued at approximately $5,346,262.34. This trade represents a 9.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is owned by corporate insiders.

Institutional Trading of WESCO International

A number of hedge funds and other institutional investors have recently made changes to their positions in WCC. Russell Investments Group Ltd. increased its stake in WESCO International by 62.9% in the 4th quarter. Russell Investments Group Ltd. now owns 215,002 shares of the technology company's stock valued at $38,906,000 after buying an additional 83,031 shares during the last quarter. Covestor Ltd raised its holdings in WESCO International by 5.5% during the fourth quarter. Covestor Ltd now owns 1,198 shares of the technology company's stock worth $216,000 after acquiring an additional 62 shares in the last quarter. Jaffetilchin Investment Partners LLC acquired a new position in WESCO International during the fourth quarter valued at approximately $1,094,000. Gabelli Funds LLC bought a new position in WESCO International in the fourth quarter valued at approximately $633,000. Finally, MetLife Investment Management LLC increased its position in shares of WESCO International by 8.6% during the 4th quarter. MetLife Investment Management LLC now owns 25,093 shares of the technology company's stock worth $4,541,000 after purchasing an additional 1,991 shares during the last quarter. 93.76% of the stock is currently owned by institutional investors and hedge funds.

WESCO International Price Performance

Shares of NYSE WCC traded down $1.67 during trading on Friday, reaching $205.07. The company had a trading volume of 205,786 shares, compared to its average volume of 742,806. WESCO International has a 52 week low of $125.21 and a 52 week high of $219.07. The business's 50 day moving average price is $190.45 and its 200-day moving average price is $176.26. The stock has a market cap of $10.01 billion, a PE ratio of 16.07, a PEG ratio of 1.61 and a beta of 1.84. 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 (NYSE:WCC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The technology company reported $3.39 EPS for the quarter, beating analysts' consensus estimates of $3.31 by $0.08. The firm had revenue of $5.90 billion for the quarter, compared to analyst estimates of $5.82 billion. WESCO International had a return on equity of 12.96% and a net margin of 2.98%. The business's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $3.21 EPS. Analysts expect that WESCO International will post 13.3 earnings per share for the current year.

WESCO International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a dividend of $0.4538 per share. This represents a $1.82 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, June 13th. WESCO International's dividend payout ratio is 14.25%.

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).