Stephens cut shares of WESCO International (NYSE:WCC – Free Report) from an overweight rating to an equal weight rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. Stephens currently has $200.00 target price on the technology company’s stock, up from their previous target price of $190.00.
WCC has been the topic of several other research reports. KeyCorp boosted their price objective on WESCO International from $180.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, June 13th. JPMorgan Chase & Co. decreased their price objective on shares of WESCO International from $210.00 to $180.00 and set an “overweight” rating for the company in a research note on Tuesday, May 27th. Loop Capital lowered their price objective on shares of WESCO International from $250.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, May 12th. Finally, Oppenheimer lowered their price objective on shares of WESCO International from $225.00 to $195.00 and set an “outperform” rating on the stock in a research report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $210.75.
Get Our Latest Stock Analysis on WCC
WESCO International Price Performance
NYSE WCC opened at $205.95 on Wednesday. WESCO International has a 12 month low of $125.21 and a 12 month high of $216.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.15 and a quick ratio of 1.23. The firm has a market capitalization of $10.05 billion, a PE ratio of 15.58, a P/E/G ratio of 1.59 and a beta of 1.83. The company’s 50 day simple moving average is $180.75 and its 200 day simple moving average is $174.19.
WESCO International (NYSE:WCC – Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.02). The firm 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 13.40% and a net margin of 3.30%. WESCO International’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.30 earnings per share. As a group, equities research analysts forecast that WESCO International will post 13.3 EPS for the current fiscal year.
WESCO International Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a $0.4538 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend was Friday, June 13th. WESCO International’s dividend payout ratio (DPR) is currently 13.77%.
Insiders Place Their Bets
In related news, EVP Christine Ann Wolf sold 3,106 shares of WESCO International stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $177.14, for a total transaction of $550,196.84. Following the completion of the transaction, the executive vice president owned 30,181 shares in the company, valued at approximately $5,346,262.34. This trade represents a 9.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.30% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On WESCO International
Several institutional investors and hedge funds have recently bought and sold shares of WCC. Parallel Advisors LLC raised its stake in shares of WESCO International by 13.4% during the second quarter. Parallel Advisors LLC now owns 507 shares of the technology company’s stock valued at $94,000 after acquiring an additional 60 shares during the last quarter. Covestor Ltd raised its position in WESCO International by 5.5% during the 4th quarter. Covestor Ltd now owns 1,198 shares of the technology company’s stock worth $216,000 after purchasing an additional 62 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in WESCO International by 43.5% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 267 shares of the technology company’s stock worth $48,000 after purchasing an additional 81 shares during the last quarter. Third Avenue Management LLC raised its position in shares of WESCO International by 0.6% during the first quarter. Third Avenue Management LLC now owns 14,822 shares of the technology company’s stock worth $2,302,000 after acquiring an additional 83 shares during the last quarter. Finally, Greenleaf Trust raised its position in shares of WESCO International by 3.7% during the first quarter. Greenleaf Trust now owns 2,360 shares of the technology company’s stock worth $367,000 after acquiring an additional 84 shares during the last quarter. Institutional investors own 93.76% of the company’s stock.
WESCO International Company Profile
(Get Free Report)
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).
Further Reading
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