WESCO International, Inc. (NYSE:WCC) Receives Average Rating of “Buy” from Brokerages

WESCO International, Inc. (NYSE:WCC) has been given a consensus rating of “Buy” by the nine ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $218.88.

Several research firms have weighed in on WCC. Royal Bank of Canada lifted their price objective on WESCO International from $212.00 to $213.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Stephens boosted their price target on WESCO International from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Jefferies Financial Group boosted their price target on WESCO International from $225.00 to $245.00 and gave the stock a “buy” rating in a research 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. Finally, KeyCorp boosted their price target on WESCO International from $225.00 to $245.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th.

WESCO International Stock Performance

WESCO International stock opened at $163.51 on Thursday. The stock’s 50 day simple moving average is $183.77 and its two-hundred day simple moving average is $182.38. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.27 and a current ratio of 2.20. The stock has a market cap of $7.98 billion, a price-to-earnings ratio of 12.51, 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.

WESCO International (NYSE:WCC) last posted its quarterly earnings data 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 net margin of 3.29% and a return on equity of 13.63%. As a group, analysts expect that WESCO International will post 13.3 earnings per share for the current fiscal year.

WESCO International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.4538 dividend. This is a positive change from WESCO International’s previous quarterly dividend of $0.41. This represents a $1.82 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Friday, March 14th. WESCO International’s payout ratio is presently 13.85%.

Hedge Funds Weigh In On WESCO International

A number of hedge funds have recently added to or reduced their stakes in the company. Amiral Gestion purchased a new position in WESCO International in the 4th quarter worth approximately $796,000. Raiffeisen Bank International AG bought a new position in shares of WESCO International during the 4th quarter valued at $180,000. Redwood Investment Management LLC purchased a new position in shares of WESCO International in the 4th quarter worth $1,445,000. Captrust Financial Advisors boosted its stake in shares of WESCO International by 538.0% in the 4th quarter. Captrust Financial Advisors now owns 8,096 shares of the technology company’s stock worth $1,465,000 after buying an additional 6,827 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of WESCO International by 149.3% in the fourth quarter. Ameriprise Financial Inc. now owns 255,035 shares of the technology company’s stock worth $46,148,000 after acquiring an additional 152,727 shares during the period. 93.76% of the stock is currently owned by hedge funds and other institutional investors.

WESCO International Company Profile

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).