WESCO International (NYSE:WCC) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

WESCO International (NYSE:WCC) released its quarterly earnings results on Thursday. The technology company reported $1.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.01, Morningstar.com reports. WESCO International had a net margin of 2.77% and a return on equity of 10.34%. The firm had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the previous year, the firm posted $1.22 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. WESCO International updated its FY 2019 guidance to $5.00-5.60 EPS and its FY19 guidance to $5.00-5.60 EPS.

Shares of WCC stock opened at $44.96 on Friday. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 9.18, a P/E/G ratio of 0.95 and a beta of 1.74. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.31 and a current ratio of 2.18. WESCO International has a 1-year low of $43.94 and a 1-year high of $63.20. The business’s fifty day moving average is $49.69.

Several equities research analysts recently issued reports on WCC shares. ValuEngine downgraded shares of WESCO International from a “sell” rating to a “strong sell” rating in a research note on Friday, July 12th. Northcoast Research downgraded shares of WESCO International from a “buy” rating to a “neutral” rating in a research note on Friday. TheStreet downgraded shares of WESCO International from a “b-” rating to a “c+” rating in a research note on Friday, May 24th. Buckingham Research downgraded shares of WESCO International from a “buy” rating to a “neutral” rating in a research note on Friday. Finally, Zacks Investment Research downgraded shares of WESCO International from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. WESCO International currently has a consensus rating of “Hold” and a consensus target price of $61.71.

In other WESCO International news, Director John K. Morgan sold 3,077 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $51.29, for a total transaction of $157,819.33. Following the completion of the transaction, the director now directly owns 25,984 shares of the company’s stock, valued at approximately $1,332,719.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lynn M. Utter sold 1,513 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $48.97, for a total transaction of $74,091.61. Following the transaction, the director now directly owns 11,151 shares of the company’s stock, valued at $546,064.47. The disclosure for this sale can be found here. 2.80% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in WCC. Carroll Financial Associates Inc. boosted its holdings in shares of WESCO International by 317.4% in the 2nd quarter. Carroll Financial Associates Inc. now owns 697 shares of the technology company’s stock valued at $35,000 after buying an additional 530 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of WESCO International by 425.0% in the 1st quarter. Quadrant Capital Group LLC now owns 1,323 shares of the technology company’s stock valued at $68,000 after buying an additional 1,071 shares during the period. Machina Capital S.A.S. boosted its holdings in shares of WESCO International by 283.4% in the 2nd quarter. Machina Capital S.A.S. now owns 1,986 shares of the technology company’s stock valued at $101,000 after buying an additional 1,468 shares during the period. Meeder Asset Management Inc. boosted its holdings in shares of WESCO International by 18.7% in the 1st quarter. Meeder Asset Management Inc. now owns 2,832 shares of the technology company’s stock valued at $150,000 after buying an additional 447 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of WESCO International in the 1st quarter valued at about $273,000. 98.69% of the stock is owned by institutional investors.

About WESCO International

WESCO International, Inc distributes electrical, industrial, and communications maintenance, repair and operating (MRO) and original equipment manufacturers products and construction materials in North America and internationally. The company sells general supplies, such as wiring devices, fuses, terminals, connectors, boxes, enclosures, fittings, lugs, terminations, wraps, splicing and marking equipment, tools and testers, safety, personal protection, sealants, cutting tools, adhesives, consumables, fasteners, janitorial, and other MRO supplies.

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Earnings History for WESCO International (NYSE:WCC)

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