WESCO International (NYSE:WCC) Shares Gap Up to $159.78

WESCO International, Inc. (NYSE:WCC)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $159.78, but opened at $165.59. WESCO International shares last traded at $166.48, with a volume of 118,182 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on WCC shares. Loop Capital lowered their price target on WESCO International from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Royal Bank of Canada reduced their price target on WESCO International from $175.00 to $171.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Baird R W cut shares of WESCO International from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. Robert W. Baird decreased their target price on shares of WESCO International from $195.00 to $172.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Stephens reiterated an “overweight” rating and issued a $190.00 price target on shares of WESCO International in a research note on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, WESCO International currently has an average rating of “Moderate Buy” and a consensus price target of $184.71.

WESCO International Stock Performance

The company has a current ratio of 2.28, a quick ratio of 1.34 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $8.24 billion, a P/E ratio of 13.96, a price-to-earnings-growth ratio of 1.35 and a beta of 2.03. The company has a 50-day moving average of $161.74 and a 200-day moving average of $165.66.

WESCO International (NYSE:WCC) last released its earnings results on Thursday, August 1st. The technology company reported $3.21 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.27). The business had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.55 billion. WESCO International had a return on equity of 14.44% and a net margin of 3.30%. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the prior year, the business earned $3.71 EPS. On average, equities analysts anticipate that WESCO International, Inc. will post 12.17 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The company 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 $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, September 13th. WESCO International’s dividend payout ratio is currently 13.74%.

Hedge Funds Weigh In On WESCO International

Large investors have recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. lifted its holdings 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 purchasing an additional 69 shares in the last quarter. GAMMA Investing LLC lifted its position 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 purchasing an additional 100 shares in the last quarter. Rise Advisors LLC purchased a new position in WESCO International during the first quarter worth about $26,000. Thompson Siegel & Walmsley LLC grew its position in WESCO International by 0.3% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 58,511 shares of the technology company’s stock worth $9,275,000 after purchasing an additional 173 shares in the last quarter. Finally, Quent Capital LLC lifted its position in shares of WESCO International by 9.9% during the 1st quarter. Quent Capital LLC now owns 3,703 shares of the technology company’s stock worth $634,000 after buying an additional 333 shares in the last quarter. 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).