WESCO International (NYSE:WCC) Updates FY24 Earnings Guidance

WESCO International (NYSE:WCC) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $12-13 for the period, compared to the consensus EPS estimate of $12.15. The company issued revenue guidance of down 1.5-3.5% yr/yr to ~$, compared to the consensus revenue estimate of $21.73 billion. WESCO International also updated its FY 2024 guidance to 12.000-13.000 EPS.

Analyst Ratings Changes

Several research analysts have issued reports on WCC shares. KeyCorp lowered their price target on shares of WESCO International from $205.00 to $195.00 and set an overweight rating for the company in a report on Friday, August 2nd. StockNews.com downgraded shares of WESCO International from a buy rating to a hold rating in a research note on Tuesday, July 2nd. Stephens reaffirmed an overweight rating and set a $190.00 price target on shares of WESCO International in a research report on Monday, August 5th. Robert W. Baird decreased their price target on WESCO International from $195.00 to $172.00 and set a neutral rating for the company in a report on Friday, August 2nd. Finally, Loop Capital boosted their price objective on WESCO International from $190.00 to $210.00 and gave the company a buy rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $189.86.

WESCO International Stock Down 0.3 %

WCC stock opened at $171.58 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.34 and a current ratio of 2.28. WESCO International has a fifty-two week low of $122.30 and a fifty-two week high of $195.43. The stock’s 50 day simple moving average is $161.63 and its 200 day simple moving average is $166.36. The company has a market cap of $8.72 billion, a P/E ratio of 14.29, a price-to-earnings-growth ratio of 1.38 and a beta of 2.03.

WESCO International (NYSE:WCC) last issued its earnings results on Thursday, August 1st. The technology company reported $3.21 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.27). WESCO International had a return on equity of 14.44% and a net margin of 3.30%. The firm had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same period in the previous year, the company earned $3.71 earnings per share. WESCO International’s revenue for the quarter was down 4.6% compared to the same quarter last year. On average, research analysts expect that WESCO International will post 12.14 earnings per share for the current fiscal year.

WESCO International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a $0.4125 dividend. This represents a $1.65 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, September 13th. WESCO International’s dividend payout ratio (DPR) is presently 13.74%.

Insider Activity at WESCO International

In related news, Director Steven A. Raymund sold 5,819 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $171.56, for a total transaction of $998,307.64. Following the completion of the sale, the director now owns 27,004 shares in the company, valued at $4,632,806.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is owned by insiders.

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).