WESCO International (NYSE:WCC) Issues FY24 Earnings Guidance

WESCO International (NYSE:WCC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $13.75-15.75 for the period, compared to the consensus EPS estimate of $14.24.

WESCO International Price Performance

Shares of WESCO International stock traded up $2.62 on Friday, hitting $167.70. 754,885 shares of the company traded hands, compared to its average volume of 656,150. The stock has a market capitalization of $8.54 billion, a P/E ratio of 13.96, a price-to-earnings-growth ratio of 1.19 and a beta of 2.07. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.42 and a current ratio of 2.21. WESCO International has a 52 week low of $121.90 and a 52 week high of $195.43. The business has a 50-day simple moving average of $161.27 and a 200 day simple moving average of $159.91.

WESCO International (NYSE:WCC) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $2.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.13). WESCO International had a net margin of 3.08% and a return on equity of 15.10%. The company had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the previous year, the business earned $3.75 EPS. The company’s quarterly revenue was down 3.1% on a year-over-year basis. Research analysts expect that WESCO International will post 14.12 earnings per share for the current fiscal year.

WESCO International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.4125 dividend. This represents a $1.65 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from WESCO International’s previous quarterly dividend of $0.38. WESCO International’s payout ratio is currently 13.74%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WCC. Royal Bank of Canada reduced their price target on shares of WESCO International from $176.00 to $172.00 and set a sector perform rating on the stock in a research report on Friday. Robert W. Baird reduced their price target on shares of WESCO International from $203.00 to $170.00 and set an outperform rating on the stock in a research report on Wednesday, February 14th. JPMorgan Chase & Co. reduced their price target on shares of WESCO International from $180.00 to $175.00 and set an overweight rating on the stock in a research report on Friday, March 15th. Oppenheimer lifted their price objective on shares of WESCO International from $190.00 to $200.00 and gave the stock an outperform rating in a research note on Friday. Finally, KeyCorp lifted their price objective on shares of WESCO International from $190.00 to $205.00 and gave the stock an overweight rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, WESCO International has a consensus rating of Moderate Buy and a consensus target price of $188.67.

Insiders Place Their Bets

In other news, EVP James Cameron sold 5,352 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $156.39, for a total transaction of $836,999.28. Following the completion of the sale, the executive vice president now directly owns 33,595 shares of the company’s stock, valued at $5,253,922.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Nelson John Squires III sold 3,490 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $190.00, for a total transaction of $663,100.00. Following the completion of the sale, the executive vice president now directly owns 54,385 shares of the company’s stock, valued at $10,333,150. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Cameron sold 5,352 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $156.39, for a total transaction of $836,999.28. Following the sale, the executive vice president now directly owns 33,595 shares of the company’s stock, valued at $5,253,922.05. The disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.

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).