WESCO International (NYSE:WCC) Updates FY 2024 Earnings Guidance

WESCO International (NYSE:WCC) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 13.750-15.750 for the period, compared to the consensus earnings per share estimate of 14.260. The company issued revenue guidance of -.

WESCO International Stock Performance

WCC traded up $2.62 during midday trading on Friday, hitting $167.70. 754,877 shares of the company were exchanged, compared to its average volume of 609,629. WESCO International has a 1-year low of $121.90 and a 1-year high of $195.43. The firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 1.09 and a beta of 2.07. The company’s 50 day simple moving average is $160.82 and its 200 day simple moving average is $159.55. The company has a current ratio of 2.48, a quick ratio of 1.42 and a debt-to-equity ratio of 1.06.

WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $2.30 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.13). The company had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $5.30 billion. WESCO International had a net margin of 3.42% and a return on equity of 17.01%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.75 earnings per share. As a group, sell-side analysts predict that WESCO International will post 14.14 earnings per share for the current year.

WESCO International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.4125 dividend. This represents a $1.65 annualized dividend and a yield of 0.98%. The ex-dividend date was Thursday, March 14th. This is an increase from WESCO International’s previous quarterly dividend of $0.38. WESCO International’s dividend payout ratio (DPR) is 12.19%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on WCC shares. Royal Bank of Canada dropped their price objective on WESCO International from $176.00 to $172.00 and set a sector perform rating for the company in a research note on Friday. StockNews.com cut WESCO International from a buy rating to a hold rating in a research report on Wednesday, February 14th. Robert W. Baird decreased their price objective on WESCO International from $203.00 to $170.00 and set an outperform rating for the company in a report on Wednesday, February 14th. Oppenheimer lifted their target price on shares of WESCO International from $190.00 to $200.00 and gave the company an outperform rating in a report on Friday. Finally, JPMorgan Chase & Co. decreased their price target on shares of WESCO International from $180.00 to $175.00 and set an overweight rating for the company in a research note on Friday, March 15th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, WESCO International presently has a consensus rating of Moderate Buy and a consensus target price of $188.67.

Insider Activity

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

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).