WESCO International, Inc. (NYSE:WCC) – Equities research analysts at Northcoast Research issued their Q1 2018 earnings estimates for shares of WESCO International in a report issued on Wednesday. Northcoast Research analyst R. Cieslak anticipates that the technology company will post earnings per share of $0.79 for the quarter. Northcoast Research also issued estimates for WESCO International’s Q2 2018 earnings at $1.11 EPS, Q3 2018 earnings at $1.29 EPS and Q4 2018 earnings at $1.17 EPS.
WESCO International (NYSE:WCC) last released its earnings results on Thursday, October 26th. The technology company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.03 by $0.09. WESCO International had a return on equity of 9.11% and a net margin of 2.52%. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter last year, the firm posted $1.05 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis.
A number of other equities research analysts have also recently commented on the company. Credit Suisse Group cut WESCO International to a “hold” rating and set a $70.00 price objective for the company. in a research note on Friday. Zacks Investment Research raised WESCO International from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Wednesday. ValuEngine raised WESCO International from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. UBS raised their price objective on WESCO International from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Finally, Wells Fargo & Company raised their price objective on WESCO International from $67.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $68.54.
Shares of WESCO International (NYSE:WCC) opened at $64.90 on Friday. WESCO International has a one year low of $48.95 and a one year high of $76.15. The company has a market capitalization of $2,972.88, a P/E ratio of 16.39, a P/E/G ratio of 1.63 and a beta of 1.95. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.42 and a current ratio of 2.31.
Large investors have recently made changes to their positions in the stock. Neuberger Berman Group LLC lifted its holdings in WESCO International by 3.4% during the second quarter. Neuberger Berman Group LLC now owns 9,878 shares of the technology company’s stock worth $566,000 after acquiring an additional 326 shares during the period. TIAA CREF Investment Management LLC lifted its holdings in WESCO International by 0.8% during the second quarter. TIAA CREF Investment Management LLC now owns 81,095 shares of the technology company’s stock worth $4,647,000 after acquiring an additional 659 shares during the period. Stanley Laman Group Ltd. lifted its holdings in WESCO International by 1.4% during the second quarter. Stanley Laman Group Ltd. now owns 51,611 shares of the technology company’s stock worth $2,957,000 after acquiring an additional 691 shares during the period. D.A. Davidson & CO. lifted its holdings in WESCO International by 32.0% during the second quarter. D.A. Davidson & CO. now owns 3,572 shares of the technology company’s stock worth $204,000 after acquiring an additional 866 shares during the period. Finally, Janney Capital Management LLC lifted its holdings in WESCO International by 47.4% during the third quarter. Janney Capital Management LLC now owns 5,199 shares of the technology company’s stock worth $302,000 after acquiring an additional 1,672 shares during the period. 98.79% of the stock is currently owned by institutional investors.
In related news, Director James Louis Singleton sold 3,288 shares of WESCO International stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $64.25, for a total transaction of $211,254.00. Following the transaction, the director now owns 19,477 shares of the company’s stock, valued at $1,251,397.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.90% of the stock is owned by insiders.
WESCO International announced that its Board of Directors has approved a share buyback program on Wednesday, December 13th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
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About WESCO International
WESCO International, Inc is a distributor of products and provider of supply chain management and logistics services used in industrial, construction, utility and commercial, institutional and government (CIG) markets. The Company is a provider of electrical, industrial and communications maintenance, repair and operating (MRO) and original equipment manufacturers (OEM) products, construction materials, and supply chain management and logistics services.
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