The price of WESCO International Inc. (NYSE:WCC) shares last traded on Wall Street fell -6.87% to $144.60.
Based on available information, 11 analysts follow WESCO International Inc. (NYSE:WCC). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $215.00 and a low of $170.00, we find $200.00. Given the previous closing price of $155.26, this indicates a potential upside of 28.82 percent. WCC stock price is now -4.01% away from the 50-day moving average and 10.18% away from the 200-day moving average. The market capitalization of the company currently stands at $7.75B.
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Among analysts, 2 rate the stock a hold while 8 rate it a buy. Brokers who have rated the stock have averaged $198.50 as their price target over the next twelve months.
With the price target enhanced from $148 to $150, Jefferies Upgraded its rating from Hold to Buy for WESCO International Inc. (NYSE: WCC). On August 03, 2021, Loop Capital recently initiated its ‘Buy’ rating on the stock quoting a target price of $125, while ‘Wolfe Research’ rates the stock as ‘Outperform’.
In other news, Schulz David S., EVP & CFO sold 1,867 shares of the company’s stock on Mar 01. The stock was sold for $311,920 at an average price of $167.07. Upon completion of the transaction, the EVP & CFO now directly owns 100,703 shares in the company, valued at $14.56 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 08, EVP & GM, EES Squires Nelson John III sold 613 shares of the business’s stock. A total of $104,921 was realized by selling the stock at an average price of $171.16. This leaves the insider owning 73,021 shares of the company worth $10.56 million. Insiders disposed of 332,016 shares of company stock worth roughly $48.01 million over the past 1 year. A total of 0.90% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in WCC stock. A new stake in WESCO International Inc. shares was purchased by J. L. BAINBRIDGE & CO., INC. during the first quarter worth $12,196,000. KENNEDY CAPITAL MANAGEMENT LLC invested $11,160,000 in shares of WCC during the first quarter. In the first quarter, D.A. DAVIDSON & CO. acquired a new stake in WESCO International Inc. valued at approximately $5,838,000. RENAISSANCE TECHNOLOGIES LLC acquired a new stake in WCC for approximately $2,816,000. OVERSEA-CHINESE BANKING CORP LTD purchased a new stake in WCC valued at around $2,476,000 in the second quarter. In total, there are 507 active investors with 96.90% ownership of the company’s stock.
A candlestick chart of WESCO International Inc. (NYSE: WCC) showed a price of $150.22 on Wednesday morning. During the past 12 months, WESCO International Inc. has had a low of $99.00 and a high of $175.00. As of last week, the company has a debt-to-equity ratio of 1.22, a current ratio of 2.20, and a quick ratio of 1.30. The fifty day moving average price for WCC is $151.03 and a two-hundred day moving average price translates $131.35 for the stock.
The latest earnings results from WESCO International Inc. (NYSE: WCC) was released for Sep, 2022. According to the Industrial Distribution Company, earnings per share came in at $4.49, beating analysts’ expectations of $4.42 by 0.07. This compares to $3.22 EPS in the same period last year. The net profit margin was 3.70% and return on equity was 19.20% for WCC. The company reported revenue of $5.56 billion for the quarter, compared to $4.85 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 14.56 percent. For the current quarter, analysts expect WCC to generate $5.37B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 03/31/2023. Investors who held shares on 03/15/2023 were paid a $0.375 dividend. On an annualized basis, this represents a $1.50 dividend and a 1.04% percent yield. There was an ex-dividend date of 03/14/2023 for this dividend.
WESCO International Inc.(WCC) 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). The EES segment supplies products and supply chain solutions, including electrical equipment and supplies, automation and connected devices, security, lighting, wire and cable, and safety, as well as maintenance, repair, and operating (MRO) products. This segment also offers contractor solutions, direct and indirect manufacturing supply chain optimization programs, lighting and renewables advisory services, and digital and automation solutions. The CSS segment operates in the network infrastructure and security markets. This segment sells products directly to end-users or through various channels, including data communications contractors, security, network, professional audio/visual, and systems integrators. It also provides safety and energy management solutions. The UBS segment offers products and services to investor-owned utilities; public power companies; and service and wireless providers, broadband operators, and contractors. This segment’s products include wire and cable, transformers, transmission and distribution hardware, switches, protective devices, connectors, conduits, pole line hardware, racks, cabinets, safety and MRO products, and point-to-point wireless devices. This segment also offers various service solutions, including fiber project management, high and medium voltage project design and support, pre-wired meters and capacitor banks, meter testing and metering infrastructure installation, personal protective equipment dielectric testing, and tool repair, as well as emergency response, storage yard, materials, and logistics management. The company was founded in 1922 and is headquartered in Pittsburgh, Pennsylvania.
