WESCO International, Inc. (NYSE:WCC) Receives $219.43 Average Target Price from Brokerages

WESCO International, Inc. (NYSE:WCC - Get Free Report) has received an average recommendation of "Buy" from the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $219.43.

Several research firms have commented on WCC. Stephens boosted their target price on shares of WESCO International from $205.00 to $215.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Royal Bank of Canada upped their price objective on shares of WESCO International from $212.00 to $213.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 12th. Jefferies Financial Group raised their target price on WESCO International from $225.00 to $245.00 and gave the company a "buy" rating in a report on Friday, December 6th. StockNews.com downgraded WESCO International from a "buy" rating to a "hold" rating in a research note on Wednesday, February 12th. Finally, KeyCorp cut their price objective on WESCO International from $245.00 to $205.00 and set an "overweight" rating on the stock in a research note on Monday, March 17th.

Remove Ads

Institutional Investors Weigh In On WESCO International

Hedge funds and other institutional investors have recently modified their holdings of the stock. V Square Quantitative Management LLC boosted its holdings in WESCO International by 39.9% in the 4th quarter. V Square Quantitative Management LLC now owns 235 shares of the technology company's stock valued at $43,000 after purchasing an additional 67 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in WESCO International by 43.5% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 267 shares of the technology company's stock worth $48,000 after buying an additional 81 shares in the last quarter. GAMMA Investing LLC increased its stake in WESCO International by 25.0% during the fourth quarter. GAMMA Investing LLC now owns 375 shares of the technology company's stock valued at $68,000 after acquiring an additional 75 shares during the period. Millstone Evans Group LLC bought a new position in WESCO International during the fourth quarter valued at about $122,000. Finally, Raiffeisen Bank International AG acquired a new position in WESCO International in the 4th quarter valued at approximately $180,000. Institutional investors and hedge funds own 93.76% of the company's stock.

WESCO International Stock Down 11.5 %

Shares of NYSE:WCC traded down $18.74 during midday trading on Monday, hitting $143.66. 1,829,741 shares of the stock were exchanged, compared to its average volume of 743,755. The company has a market capitalization of $7.01 billion, a PE ratio of 10.99, a P/E/G ratio of 1.45 and a beta of 2.00. WESCO International has a 52-week low of $141.30 and a 52-week high of $216.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.27 and a current ratio of 2.20. The business's fifty day simple moving average is $175.25 and its two-hundred day simple moving average is $182.54.

WESCO International (NYSE:WCC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The technology company reported $3.16 earnings per share for the quarter, missing analysts' consensus estimates of $3.23 by ($0.07). WESCO International had a return on equity of 13.63% and a net margin of 3.29%. As a group, research analysts predict that WESCO International will post 13.3 earnings per share for the current fiscal year.

WESCO International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.4538 per share. The ex-dividend date was Friday, March 14th. This is a positive change from WESCO International's previous quarterly dividend of $0.41. This represents a $1.82 dividend on an annualized basis and a dividend yield of 1.26%. WESCO International's payout ratio is 13.85%.

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).