WESCO International (NYSE:WCC – Get Free Report) announced its earnings results on Thursday. The technology company reported $2.30 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.13), Briefing.com reports. The company had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.30 billion. WESCO International had a return on equity of 15.10% and a net margin of 3.08%. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.75 earnings per share. WESCO International updated its FY24 guidance to $13.75-15.75 EPS.
WESCO International Stock Up 1.6 %
WCC traded up $2.62 during midday trading on Friday, reaching $167.70. 754,885 shares of the company were exchanged, compared to its average volume of 656,150. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.42 and a current ratio of 2.21. The company’s fifty day moving average price is $161.27 and its 200 day moving average price is $159.76. The company has a market cap of $8.54 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 1.17 and a beta of 2.07. WESCO International has a one year low of $121.90 and a one year high of $195.43.
WESCO International Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 0.98%. This is a positive change from WESCO International’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, March 14th. WESCO International’s payout ratio is presently 13.74%.
Insiders Place Their Bets
Analysts Set New Price Targets
Several research analysts have commented on WCC shares. KeyCorp lifted their target price on WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday. Oppenheimer boosted their price objective on WESCO International from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday. Royal Bank of Canada dropped their price objective on WESCO International from $176.00 to $172.00 and set a “sector perform” rating on the stock in a research note on Friday. StockNews.com raised WESCO International from a “hold” rating to a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. decreased their target price on WESCO International from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $188.67.
Read Our Latest Research Report on WESCO International
WESCO International Company Profile
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).
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