WESCO International, Inc. (WCC) Forecasted to Earn Q1 2018 Earnings of $0.79 Per Share

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.

Earnings History and Estimates for WESCO International (NYSE:WCC)

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