WESCO International (NYSE:WCC) Shares Gap Down to $172.69

Shares of WESCO International, Inc. (NYSE:WCC - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $172.69, but opened at $168.12. WESCO International shares last traded at $167.79, with a volume of 44,013 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently commented on WCC shares. KeyCorp decreased their price objective on WESCO International from $205.00 to $195.00 and set an "overweight" rating for the company in a research note on Friday, August 2nd. Baird R W lowered shares of WESCO International from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 29th. StockNews.com lowered shares of WESCO International from a "buy" rating to a "hold" rating in a report on Tuesday, July 2nd. Loop Capital decreased their price target on shares of WESCO International from $200.00 to $190.00 and set a "buy" rating for the company in a report on Tuesday, August 6th. Finally, Robert W. Baird dropped their price objective on WESCO International from $195.00 to $172.00 and set a "neutral" rating on the stock in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $184.71.

WESCO International Stock Performance

The stock's 50 day moving average is $162.31 and its two-hundred day moving average is $165.82. The stock has a market capitalization of $8.54 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 1.35 and a beta of 2.03. The company has a current ratio of 2.28, a quick ratio of 1.34 and a debt-to-equity ratio of 1.07.

WESCO International (NYSE:WCC - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $3.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.48 by ($0.27). The firm had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.55 billion. WESCO International had a return on equity of 14.44% and a net margin of 3.30%. The firm's quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.71 earnings per share. Analysts expect that WESCO International, Inc. will post 12.17 earnings per share for the current fiscal year.

WESCO International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Friday, September 13th. WESCO International's payout ratio is 13.74%.

Hedge Funds Weigh In On WESCO International

Several hedge funds have recently modified their holdings of WCC. Rise Advisors LLC bought a new position in WESCO International in the first quarter valued at approximately $26,000. Whittier Trust Co. of Nevada Inc. grew its stake in shares of WESCO International by 71.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company's stock valued at $26,000 after buying an additional 69 shares in the last quarter. GAMMA Investing LLC increased its holdings in WESCO International by 65.4% during the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company's stock worth $40,000 after buying an additional 100 shares during the last quarter. Innealta Capital LLC bought a new stake in WESCO International during the second quarter worth $152,000. Finally, TimesSquare Capital Management LLC acquired a new stake in WESCO International in the first quarter valued at $463,000. Institutional investors own 93.76% 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).