Wesco International Inc. (NYSE:WCC) Given Consensus Recommendation of “Hold” by Brokerages
Wesco International Inc. (NYSE:WCC) has received a consensus rating of “Hold” from the sixteen research firms that are presently covering the company. Twelve equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $56.30.
Several research firms have recently commented on WCC. Longbow Research upgraded Wesco International from a “neutral” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Wednesday, August 24th. Zacks Investment Research raised Wesco International from a “sell” rating to a “hold” rating in a research report on Thursday, July 14th. Credit Suisse Group AG reissued an “outperform” rating and set a $68.00 price objective on shares of Wesco International in a research report on Friday, June 17th. Standpoint Research raised Wesco International from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Thursday, August 25th. Finally, Macquarie started coverage on Wesco International in a research report on Thursday, August 25th. They set a “neutral” rating and a $64.00 price objective for the company.
Wesco International (NYSE:WCC) traded down 0.096% during mid-day trading on Wednesday, hitting $57.285. 192,898 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $58.68 and its 200-day moving average price is $55.64. The stock has a market cap of $2.42 billion, a PE ratio of 14.013 and a beta of 2.13. Wesco International has a one year low of $34.00 and a one year high of $63.90.
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Wesco International (NYSE:WCC) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.97 by $0.05. Wesco International had a return on equity of 10.73% and a net margin of 2.65%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the firm earned $1.00 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. On average, analysts forecast that Wesco International will post $3.97 EPS for the current fiscal year.
In other news, Director James Louis Singleton sold 2,638 shares of Wesco International stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $63.29, for a total value of $166,959.02. Following the completion of the transaction, the director now owns 12,305 shares in the company, valued at approximately $778,783.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.00% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of WCC. Meeder Asset Management Inc. acquired a new stake in Wesco International during the second quarter valued at $218,000. Janus Capital Management LLC acquired a new stake in Wesco International during the second quarter valued at $278,000. Oregon Public Employees Retirement Fund boosted its stake in Wesco International by 8.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 6,414 shares of the company’s stock valued at $330,000 after buying an additional 500 shares during the last quarter. Neuberger Berman Group LLC acquired a new stake in Wesco International during the second quarter valued at $334,000. Finally, Nomura Holdings Inc. acquired a new stake in Wesco International during the second quarter valued at $524,000.
Wesco International Company Profile
WESCO International, Inc is a distributor of products and provider of supply chain management and logistics services used in industrial, construction, utility and commercial, institutional and government (CIG) markets. The Company is a provider of electrical, industrial and communications maintenance, repair and operating (MRO) and original equipment manufacturers (OEM) products, construction materials, and supply chain management and logistics services.
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