Equities research analysts expect WESCO International, Inc. (NYSE:WCC) to report $1.92 billion in sales for the current quarter, Zacks reports. Seven analysts have issued estimates for WESCO International’s earnings. The highest sales estimate is $1.92 billion and the lowest is $1.91 billion. WESCO International reported sales of $1.86 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.2%. The company is scheduled to announce its next quarterly earnings results on Thursday, October 26th.
On average, analysts expect that WESCO International will report full-year sales of $1.92 billion for the current year, with estimates ranging from $7.47 billion to $7.52 billion. For the next financial year, analysts forecast that the company will post sales of $7.84 billion per share, with estimates ranging from $7.72 billion to $7.99 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow WESCO International.
WESCO International (NYSE:WCC) last released its quarterly earnings data on Thursday, July 27th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.04. WESCO International had a return on equity of 9.11% and a net margin of 1.41%. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the company posted $1.02 EPS. The firm’s revenue for the quarter was down .1% compared to the same quarter last year.
A number of analysts have commented on the stock. Zacks Investment Research upgraded shares of WESCO International from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Standpoint Research upgraded shares of WESCO International from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a report on Thursday, August 3rd. UBS AG reiterated a “neutral” rating and issued a $55.00 price objective (down previously from $67.00) on shares of WESCO International in a report on Monday, July 31st. BidaskClub downgraded shares of WESCO International from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Finally, Northcoast Research began coverage on shares of WESCO International in a report on Tuesday, July 25th. They issued a “buy” rating and a $70.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $68.46.
In related news, CFO David S. Schulz acquired 4,000 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average price of $51.57 per share, with a total value of $206,280.00. Following the transaction, the chief financial officer now owns 9,000 shares of the company’s stock, valued at approximately $464,130. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.90% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Airain ltd purchased a new position in shares of WESCO International during the 2nd quarter worth approximately $1,983,000. Tudor Investment Corp ET AL purchased a new position in shares of WESCO International during the 1st quarter worth approximately $8,096,000. Parametric Portfolio Associates LLC boosted its position in shares of WESCO International by 5.6% during the 1st quarter. Parametric Portfolio Associates LLC now owns 166,246 shares of the technology company’s stock worth $11,562,000 after purchasing an additional 8,852 shares during the period. DUPONT CAPITAL MANAGEMENT Corp purchased a new position in shares of WESCO International during the 1st quarter worth approximately $146,000. Finally, Canada Pension Plan Investment Board boosted its position in shares of WESCO International by 4.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 294,000 shares of the technology company’s stock worth $16,846,000 after purchasing an additional 13,300 shares during the period. 98.17% of the stock is owned by hedge funds and other institutional investors.
Shares of WESCO International (WCC) opened at 54.25 on Friday. The company’s 50 day moving average price is $51.30 and its 200-day moving average price is $59.97. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of 25.72 and a beta of 1.77. WESCO International has a 1-year low of $48.95 and a 1-year high of $76.15.
About WESCO International
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for WESCO International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WESCO International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.