WESCO International (NYSE:WCC) Shares Gap Down - Time to Sell?

Key Points

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WESCO International, Inc. (NYSE:WCC - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $212.77, but opened at $200.00. WESCO International shares last traded at $207.44, with a volume of 482,057 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WCC. KeyCorp increased their price objective on WESCO International from $210.00 to $240.00 and gave the stock an "overweight" rating in a report on Friday. Raymond James Financial reaffirmed a "strong-buy" rating and set a $240.00 price target (up from $230.00) on shares of WESCO International in a research note on Friday. JPMorgan Chase & Co. reduced their price target on WESCO International from $210.00 to $180.00 and set an "overweight" rating for the company in a report on Tuesday, May 27th. Oppenheimer dropped their price objective on WESCO International from $225.00 to $195.00 and set an "outperform" rating on the stock in a report on Monday, May 5th. Finally, Loop Capital cut their price objective on shares of WESCO International from $250.00 to $220.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $217.33.

WESCO International Stock Performance

The company has a market cap of $9.91 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 1.60 and a beta of 1.84. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.09 and a quick ratio of 1.23. The firm has a fifty day simple moving average of $188.80 and a 200 day simple moving average of $176.15.

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

WESCO International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.4538 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.82 annualized dividend and a dividend yield of 0.9%. WESCO International's dividend payout ratio (DPR) is presently 13.77%.

Insider Activity

In other WESCO International news, EVP Christine Ann Wolf sold 3,106 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $177.14, for a total value of $550,196.84. Following the completion of the sale, the executive vice president directly owned 30,181 shares of the company's stock, valued at $5,346,262.34. This represents a 9.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.30% of the company's stock.

Institutional Trading of WESCO International

Institutional investors and hedge funds have recently modified their holdings of the company. Parallel Advisors LLC raised its stake in WESCO International by 13.4% during the second quarter. Parallel Advisors LLC now owns 507 shares of the technology company's stock worth $94,000 after acquiring an additional 60 shares in the last quarter. Covestor Ltd grew its holdings in shares of WESCO International by 5.5% in the 4th quarter. Covestor Ltd now owns 1,198 shares of the technology company's stock worth $216,000 after purchasing an additional 62 shares during the last quarter. Third Avenue Management LLC increased its position in shares of WESCO International by 0.6% during the 1st quarter. Third Avenue Management LLC now owns 14,822 shares of the technology company's stock worth $2,302,000 after purchasing an additional 83 shares in the last quarter. Greenleaf Trust lifted its holdings in WESCO International by 3.7% during the 1st quarter. Greenleaf Trust now owns 2,360 shares of the technology company's stock valued at $367,000 after purchasing an additional 84 shares during the last quarter. Finally, Whittier Trust Co. boosted its position in WESCO International by 46.8% in the first quarter. Whittier Trust Co. now owns 279 shares of the technology company's stock valued at $43,000 after buying an additional 89 shares in the last quarter. 93.76% of the stock is currently owned by institutional investors.

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).