WESCO International (NYSE:WCC) Issues FY24 Earnings Guidance

WESCO International (NYSE:WCC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $12-13 for the period, compared to the consensus earnings per share estimate of $12.15. The company issued revenue guidance of down 1.5-3.5% yr/yr to ~$, compared to the consensus revenue estimate of $21.73 billion. WESCO International also updated its FY 2024 guidance to 12.000-13.000 EPS.

Analyst Upgrades and Downgrades

WCC has been the topic of several research analyst reports. KeyCorp cut their target price on WESCO International from $205.00 to $195.00 and set an overweight rating on the stock in a research report on Friday, August 2nd. Royal Bank of Canada increased their price target on shares of WESCO International from $171.00 to $187.00 and gave the stock a sector perform rating in a report on Friday. StockNews.com cut shares of WESCO International from a buy rating to a hold rating in a research note on Tuesday, July 2nd. Robert W. Baird decreased their price objective on shares of WESCO International from $195.00 to $172.00 and set a neutral rating on the stock in a research report on Friday, August 2nd. Finally, Stephens reissued an overweight rating and issued a $190.00 price target on shares of WESCO International in a report on Monday, August 5th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $189.86.

WESCO International Stock Down 0.3 %

WCC opened at $171.52 on Friday. The company has a market capitalization of $8.72 billion, a PE ratio of 14.28, a P/E/G ratio of 1.38 and a beta of 2.03. WESCO International has a one year low of $122.30 and a one year high of $195.43. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.34 and a current ratio of 2.28. The stock’s fifty day moving average is $161.63 and its 200-day moving average is $166.33.

WESCO International (NYSE:WCC) last issued its earnings results on Thursday, August 1st. The technology company reported $3.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.27). WESCO International had a net margin of 3.30% and a return on equity of 14.44%. The company had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same period last year, the business earned $3.71 EPS. The company’s quarterly revenue was down 4.6% on a year-over-year basis. On average, equities analysts predict that WESCO International will post 12.14 EPS for the current fiscal year.

WESCO International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a $0.4125 dividend. This represents a $1.65 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Friday, September 13th. WESCO International’s dividend payout ratio (DPR) is presently 13.74%.

Insider Buying and Selling

In other WESCO International news, Director Steven A. Raymund sold 5,819 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $171.56, for a total transaction of $998,307.64. Following the sale, the director now owns 27,004 shares of the company’s stock, valued at approximately $4,632,806.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.10% of the stock is owned by corporate insiders.

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).