WESCO International (WCC) Posts Earnings Results, Beats Expectations By $0.05 EPS

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WESCO International (NYSE:WCC) posted its quarterly earnings results on Thursday. The technology company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.05, MarketWatch Earnings reports. WESCO International had a net margin of 2.21% and a return on equity of 9.62%. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the company posted $1.12 EPS. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year.

NYSE:WCC traded up $1.58 during mid-day trading on Thursday, hitting $51.76. 22,407 shares of the company’s stock were exchanged, compared to its average volume of 586,981. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.39 and a quick ratio of 1.47. WESCO International has a fifty-two week low of $47.44 and a fifty-two week high of $69.35. The company has a market cap of $2.33 billion, a PE ratio of 13.13, a P/E/G ratio of 1.04 and a beta of 1.82.

WCC has been the topic of a number of research analyst reports. ValuEngine upgraded shares of WESCO International from a “sell” rating to a “hold” rating in a research note on Monday, July 30th. Royal Bank of Canada restated a “hold” rating and issued a $66.00 price target on shares of WESCO International in a research note on Friday, August 3rd. UBS Group raised their price target on shares of WESCO International from $68.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, August 30th. Finally, Standpoint Research upgraded shares of WESCO International from a “hold” rating to a “buy” rating in a research note on Friday, October 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $66.67.

In other WESCO International news, SVP Christine Ann Wolf bought 1,690 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The shares were acquired at an average cost of $59.20 per share, for a total transaction of $100,048.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 1.90% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the stock. Guggenheim Capital LLC lifted its position in shares of WESCO International by 45.3% in the 1st quarter. Guggenheim Capital LLC now owns 9,793 shares of the technology company’s stock worth $607,000 after purchasing an additional 3,055 shares during the period. Xact Kapitalforvaltning AB lifted its position in shares of WESCO International by 73.4% in the 1st quarter. Xact Kapitalforvaltning AB now owns 7,323 shares of the technology company’s stock worth $454,000 after purchasing an additional 3,100 shares during the period. BNP Paribas Arbitrage SA lifted its position in shares of WESCO International by 2,973.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 45,646 shares of the technology company’s stock worth $2,606,000 after purchasing an additional 44,161 shares during the period. Aperio Group LLC lifted its position in shares of WESCO International by 3.6% in the 2nd quarter. Aperio Group LLC now owns 39,591 shares of the technology company’s stock worth $2,261,000 after purchasing an additional 1,383 shares during the period. Finally, Wedge Capital Management L L P NC lifted its position in shares of WESCO International by 12.8% in the 2nd quarter. Wedge Capital Management L L P NC now owns 15,966 shares of the technology company’s stock worth $912,000 after purchasing an additional 1,815 shares during the period. Institutional investors and hedge funds own 98.47% of the company’s stock.

WESCO International Company Profile

WESCO International, Inc distributes electrical, industrial, and communications maintenance, repair and operating (MRO) and original equipment manufacturers products and construction materials in North America and internationally. The company sells general supplies, such as wiring devices, fuses, terminals, connectors, boxes, enclosures, fittings, lugs, terminations, wraps, splicing and marking equipment, tools and testers, safety, personal protection, sealants, cutting tools, adhesives, consumables, fasteners, janitorial, and other MRO supplies.

Further Reading: What is Compound Annual Growth Rate (CAGR)?

Earnings History for WESCO International (NYSE:WCC)

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