WESCO International, Inc. (NYSE:WCC) Given Consensus Rating of “Buy” by Brokerages

WESCO International, Inc. (NYSE:WCC) has earned a consensus rating of “Buy” from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $216.57.

WCC has been the subject of a number of research reports. Stephens lifted their price objective on WESCO International from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Royal Bank of Canada lifted their price objective on WESCO International from $212.00 to $213.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Loop Capital dropped their price objective on WESCO International from $250.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, May 12th. Oppenheimer dropped their price objective on WESCO International from $225.00 to $195.00 and set an “outperform” rating for the company in a research note on Monday, May 5th. Finally, StockNews.com cut WESCO International from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th.

WESCO International Price Performance

WCC stock opened at $171.34 on Tuesday. The business has a fifty day moving average of $157.74 and a two-hundred day moving average of $178.74. The company has a quick ratio of 1.27, a current ratio of 2.20 and a debt-to-equity ratio of 1.02. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 1.45 and a beta of 1.92. WESCO International has a 52-week low of $125.21 and a 52-week high of $216.17.

WESCO International (NYSE:WCC) last posted its earnings results on Thursday, May 1st. The technology company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.02). The business had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.27 billion. WESCO International had a return on equity of 13.63% and a net margin of 3.29%. WESCO International’s revenue was down .1% compared to the same quarter last year. During the same period last year, the business earned $2.30 EPS. As a group, research analysts anticipate that WESCO International will post 13.3 earnings per share for the current year.

WESCO International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.4538 dividend. The ex-dividend date was Friday, March 14th. This is a positive change from WESCO International’s previous quarterly dividend of $0.41. This represents a $1.82 dividend on an annualized basis and a yield of 1.06%. WESCO International’s dividend payout ratio (DPR) is 13.69%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Burns Matteson Capital Management LLC purchased a new position in WESCO International in the fourth quarter valued at $390,000. Handelsbanken Fonder AB boosted its holdings in WESCO International by 167.3% in the fourth quarter. Handelsbanken Fonder AB now owns 192,182 shares of the technology company’s stock valued at $34,777,000 after purchasing an additional 120,289 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in WESCO International by 12,056.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 11,670 shares of the technology company’s stock valued at $2,112,000 after purchasing an additional 11,574 shares during the period. Van ECK Associates Corp boosted its holdings in WESCO International by 1.7% in the fourth quarter. Van ECK Associates Corp now owns 30,178 shares of the technology company’s stock valued at $5,461,000 after purchasing an additional 512 shares during the period. Finally, Rhumbline Advisers lifted its holdings in WESCO International by 1.9% during the 4th quarter. Rhumbline Advisers now owns 120,402 shares of the technology company’s stock worth $21,788,000 after buying an additional 2,271 shares during the last quarter. 93.76% of the stock is currently owned by hedge funds and other institutional investors.

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).