Analysts Set WESCO International, Inc. (NYSE:WCC) Target Price at $184.71

Shares of WESCO International, Inc. (NYSE:WCC) have been given an average rating of “Moderate Buy” by the eight analysts that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $184.71.

A number of research firms recently weighed in on WCC. KeyCorp dropped their target price on WESCO International from $205.00 to $195.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Baird R W downgraded WESCO International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Royal Bank of Canada decreased their price target on WESCO International from $175.00 to $171.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Loop Capital decreased their price target on WESCO International from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Stephens reaffirmed an “overweight” rating and issued a $190.00 price target on shares of WESCO International in a research note on Monday, August 5th.

Hedge Funds Weigh In On WESCO International

Several hedge funds have recently made changes to their positions in WCC. Rise Advisors LLC purchased a new position in shares of WESCO International during the first quarter valued at approximately $26,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of WESCO International by 71.1% during 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 during the period. GAMMA Investing LLC increased its stake in shares of WESCO International by 65.4% during the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock valued at $40,000 after buying an additional 100 shares during the period. Innealta Capital LLC purchased a new position in shares of WESCO International during the second quarter valued at approximately $152,000. Finally, TimesSquare Capital Management LLC purchased a new position in shares of WESCO International during the first quarter valued at approximately $463,000. 93.76% of the stock is owned by hedge funds and other institutional investors.

WESCO International Stock Performance

Shares of WCC opened at $163.94 on Thursday. The stock has a 50-day moving average price of $161.74 and a 200-day moving average price of $165.66. The company has a market cap of $8.06 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 1.28 and a beta of 2.03. WESCO International has a 12-month low of $122.30 and a 12-month high of $195.43. 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) last released its earnings results on Thursday, August 1st. The technology company reported $3.21 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.27). The firm had revenue of $5.48 billion during 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 business’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.71 EPS. As a group, equities analysts forecast that WESCO International 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. Stockholders of record on Friday, September 13th will be paid a dividend of $0.4125 per share. The ex-dividend date is Friday, September 13th. This represents a $1.65 annualized dividend and a dividend yield of 1.01%. WESCO International’s dividend payout ratio (DPR) is presently 13.74%.

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).