Brokerages Set WESCO International, Inc. (NYSE:WCC) Target Price at $218.88

WESCO International, Inc. (NYSE:WCC) has received a consensus rating of “Buy” from the nine research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $218.88.

WCC has been the subject of several analyst reports. Jefferies Financial Group boosted their price target on shares of WESCO International from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, December 6th. StockNews.com cut WESCO International from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Royal Bank of Canada raised their target price on WESCO International from $212.00 to $213.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. Stephens upped their price target on WESCO International from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Finally, KeyCorp raised their price objective on shares of WESCO International from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Monday, December 9th.

WESCO International Price Performance

Shares of WCC opened at $156.72 on Thursday. The company has a market cap of $7.65 billion, a P/E ratio of 11.99, a PEG ratio of 1.45 and a beta of 2.00. WESCO International has a fifty-two week low of $143.06 and a fifty-two week high of $216.17. The company has a quick ratio of 1.27, a current ratio of 2.20 and a debt-to-equity ratio of 1.02. The firm’s 50 day moving average price is $184.57 and its 200 day moving average price is $182.56.

WESCO International (NYSE:WCC) last issued its quarterly earnings results on Tuesday, February 11th. The technology company reported $3.16 earnings per share for the quarter, missing the consensus estimate of $3.23 by ($0.07). WESCO International had a return on equity of 13.63% and a net margin of 3.29%. On average, research analysts forecast that WESCO International will post 13.3 earnings per share for the current fiscal year.

WESCO International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.4538 per share. This represents a $1.82 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Friday, March 14th. This is a boost from WESCO International’s previous quarterly dividend of $0.41. WESCO International’s dividend payout ratio is 13.85%.

Hedge Funds Weigh In On WESCO International

Institutional investors have recently bought and sold shares of the company. Covestor Ltd raised its stake in shares of WESCO International by 5.5% during the 4th quarter. Covestor Ltd now owns 1,198 shares of the technology company’s stock worth $216,000 after buying an additional 62 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in shares of WESCO International by 39.9% in the fourth quarter. V Square Quantitative Management LLC now owns 235 shares of the technology company’s stock valued at $43,000 after buying an additional 67 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in WESCO International by 1.7% during the third quarter. Fifth Third Wealth Advisors LLC now owns 4,335 shares of the technology company’s stock worth $728,000 after acquiring an additional 71 shares during the period. GAMMA Investing LLC raised its position in WESCO International by 25.0% in the fourth quarter. GAMMA Investing LLC now owns 375 shares of the technology company’s stock worth $68,000 after acquiring an additional 75 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in WESCO International by 43.5% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 267 shares of the technology company’s stock valued at $48,000 after acquiring an additional 81 shares during the period. 93.76% of the stock is owned by institutional investors and hedge funds.

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).