According to Zacks, “WESCO’s increasing sales in international projects are headwinds for margin expansion. Also, supplier concentration remains a concern. The company has underperformed the industry it belongs to over a year. However, robust supply chain solutions portfolio and strengthening relationship with utility and non-residential construction clients are likely to continue aiding its momentum in the market. We believe improving demand from data centres, broadband, cyber security and cloud technology projects will continue to drive the company's top-line growth. Also, the company is witnessing growing contract wins in all the markets which are tailwinds.”
WCC has been the topic of several other research reports. ValuEngine raised shares of WESCO International from a strong sell rating to a sell rating in a research note on Monday, February 4th. Buckingham Research set a $60.00 price target on shares of WESCO International and gave the stock a buy rating in a research note on Saturday, February 2nd. TheStreet raised shares of WESCO International from a c+ rating to a b- rating in a research note on Thursday, February 14th. Stephens set a $65.00 target price on shares of WESCO International and gave the company a buy rating in a research report on Friday, February 8th. Finally, Wells Fargo & Co raised their target price on shares of WESCO International from $60.00 to $65.00 and gave the company an outperform rating in a research report on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $63.00.
WESCO International (NYSE:WCC) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.93 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.02). The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2 billion. WESCO International had a return on equity of 10.50% and a net margin of 2.78%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.93 EPS. On average, equities research analysts expect that WESCO International will post 5.38 EPS for the current fiscal year.
In other WESCO International news, Director Lynn M. Utter sold 1,602 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $54.74, for a total transaction of $87,693.48. Following the transaction, the director now owns 14,151 shares of the company’s stock, valued at approximately $774,625.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Louis Singleton sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $53.46, for a total transaction of $160,380.00. Following the transaction, the director now directly owns 16,656 shares in the company, valued at approximately $890,429.76. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.
Several institutional investors have recently modified their holdings of WCC. Quadrant Capital Group LLC grew its position in shares of WESCO International by 425.0% in the 1st quarter. Quadrant Capital Group LLC now owns 1,323 shares of the technology company’s stock worth $68,000 after buying an additional 1,071 shares during the last quarter. Meeder Asset Management Inc. grew its position in shares of WESCO International by 42.0% in the 4th quarter. Meeder Asset Management Inc. now owns 2,385 shares of the technology company’s stock worth $114,000 after buying an additional 706 shares during the last quarter. Greenleaf Trust purchased a new position in shares of WESCO International in the 4th quarter worth approximately $208,000. SG Americas Securities LLC purchased a new position in shares of WESCO International in the 1st quarter worth approximately $273,000. Finally, Sun Life Financial INC grew its position in shares of WESCO International by 6.6% in the 4th quarter. Sun Life Financial INC now owns 8,827 shares of the technology company’s stock worth $424,000 after buying an additional 548 shares during the last quarter. 97.94% of the stock is currently owned by hedge funds and other institutional investors.
About WESCO International
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.
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