KeyCorp Has Lowered Expectations for WESCO International (NYSE:WCC) Stock Price

WESCO International (NYSE:WCC) had its price objective decreased by KeyCorp from $245.00 to $205.00 in a research note released on Monday morning,Benzinga reports. KeyCorp currently has an overweight rating on the technology company’s stock.

Several other brokerages also recently weighed in on WCC. Stephens increased their price target on WESCO International from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Jefferies Financial Group raised their target price on WESCO International from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Royal Bank of Canada boosted their price target on WESCO International from $212.00 to $213.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. Finally, StockNews.com lowered WESCO International from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, WESCO International has an average rating of “Moderate Buy” and a consensus target price of $219.43.

WESCO International Price Performance

Shares of WCC opened at $163.45 on Monday. The firm has a market capitalization of $7.98 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.45 and a beta of 2.00. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.20 and a quick ratio of 1.27. The company’s fifty day moving average price is $182.61 and its 200-day moving average price is $182.47. WESCO International has a 1-year low of $143.06 and a 1-year high of $216.17.

WESCO International (NYSE:WCC) last released its earnings results on Tuesday, February 11th. The technology company reported $3.16 EPS for the quarter, missing analysts’ consensus estimates of $3.23 by ($0.07). WESCO International had a return on equity of 13.63% and a net margin of 3.29%. On average, equities research analysts predict that WESCO International will post 13.3 EPS for the current year.

WESCO International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.4538 per share. This represents a $1.82 annualized dividend and a dividend yield of 1.11%. This is an increase from WESCO International’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, March 14th. WESCO International’s dividend payout ratio is presently 13.85%.

Hedge Funds Weigh In On WESCO International

A number of large investors have recently added to or reduced their stakes in WCC. V Square Quantitative Management LLC increased its stake in WESCO International by 39.9% during the 4th quarter. V Square Quantitative Management LLC now owns 235 shares of the technology company’s stock worth $43,000 after buying an additional 67 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of WESCO International by 43.5% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 267 shares of the technology company’s stock valued at $48,000 after acquiring an additional 81 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of WESCO International by 25.0% in the fourth quarter. GAMMA Investing LLC now owns 375 shares of the technology company’s stock worth $68,000 after acquiring an additional 75 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in shares of WESCO International during the fourth quarter worth approximately $122,000. Finally, Raiffeisen Bank International AG acquired a new position in WESCO International in the 4th quarter valued at $180,000. 93.76% of the stock is currently owned by institutional investors and hedge funds.

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).