WESCO International (NYSE:WCC) Releases FY24 Earnings Guidance

WESCO International (NYSE:WCC) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $13.75-15.75 for the period, compared to the consensus estimate of $14.24.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Robert W. Baird cut their price objective on WESCO International from $203.00 to $170.00 and set an outperform rating for the company in a report on Wednesday, February 14th. KeyCorp boosted their target price on WESCO International from $190.00 to $205.00 and gave the company an overweight rating in a research note on Friday. Oppenheimer boosted their target price 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 lowered their target price on WESCO International from $176.00 to $172.00 and set a sector perform rating for the company in a research note on Friday. Finally, JPMorgan Chase & Co. lowered their target price on WESCO International from $180.00 to $175.00 and set an overweight rating for the company in a research note on Friday, March 15th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $188.67.

WESCO International Trading Up 1.6 %

WCC traded up $2.62 during midday trading on Friday, reaching $167.70. 754,885 shares of the company’s stock traded hands, compared to its average volume of 656,150. The firm has a fifty day moving average of $161.27 and a two-hundred day moving average of $159.91. The stock has a market capitalization of $8.54 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 1.19 and a beta of 2.07. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.21 and a quick ratio of 1.42. WESCO International has a 52 week low of $121.90 and a 52 week high of $195.43.

WESCO International (NYSE:WCC) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $2.30 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.13). The business had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.30 billion. WESCO International had a net margin of 3.08% and a return on equity of 15.10%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.75 EPS. On average, equities analysts anticipate that WESCO International will post 14.12 earnings per share for the current fiscal year.

WESCO International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.4125 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.65 annualized dividend and a dividend yield of 0.98%. This is a positive change from WESCO International’s previous quarterly dividend of $0.38. WESCO International’s dividend payout ratio is currently 13.74%.

Insider Transactions at WESCO International

In other news, EVP James Cameron sold 5,352 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $156.39, for a total transaction of $836,999.28. Following the transaction, the executive vice president now directly owns 33,595 shares of the company’s stock, valued at approximately $5,253,922.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other WESCO International news, EVP Nelson John Squires III sold 3,490 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $190.00, for a total value of $663,100.00. Following the transaction, the executive vice president now owns 54,385 shares of the company’s stock, valued at $10,333,150. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP James Cameron sold 5,352 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $156.39, for a total value of $836,999.28. Following the completion of the transaction, the executive vice president now directly owns 33,595 shares in the company, valued at approximately $5,253,922.05. The disclosure for this sale can be found here. Corporate insiders own 3.10% 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).