WESCO International (NYSE:WCC) Updates FY 2024 Earnings Guidance

WESCO International (NYSE:WCC) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 12.000-13.000 for the period, compared to the consensus earnings per share estimate of 12.180. The company issued revenue guidance of $21.6 billion-$22.0 billion, compared to the consensus revenue estimate of $22.2 billion. WESCO International also updated its FY24 guidance to $12-13 EPS.

Analyst Ratings Changes

WCC has been the topic of a number of recent analyst reports. Loop Capital lifted their price target on WESCO International from $190.00 to $210.00 and gave the stock a buy rating in a report on Friday. Stephens reiterated an overweight rating and set a $190.00 target price on shares of WESCO International in a research note on Monday, August 5th. Robert W. Baird reduced their price target on shares of WESCO International from $195.00 to $172.00 and set a neutral rating for the company in a research report on Friday, August 2nd. StockNews.com downgraded shares of WESCO International from a buy rating to a hold rating in a report on Tuesday, July 2nd. Finally, Royal Bank of Canada boosted their target price on shares of WESCO International from $171.00 to $187.00 and gave the company a sector perform rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, WESCO International presently has an average rating of Moderate Buy and a consensus target price of $189.86.

WESCO International Price Performance

NYSE WCC opened at $171.58 on Friday. The company has a quick ratio of 1.34, a current ratio of 2.28 and a debt-to-equity ratio of 1.07. The company has a market cap of $8.72 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 1.38 and a beta of 2.03. WESCO International has a 52 week low of $122.30 and a 52 week high of $195.43. The firm’s 50-day simple moving average is $161.63 and its two-hundred day simple moving average is $166.36.

WESCO International (NYSE:WCC) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $3.21 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.27). WESCO International had a return on equity of 14.44% and a net margin of 3.30%. The firm had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same period in the previous year, the company posted $3.71 EPS. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. Research analysts predict that WESCO International will post 12.14 earnings per share for the current year.

WESCO International Dividend Announcement

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 given a $0.4125 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.65 dividend on an annualized basis and a yield of 0.96%. WESCO International’s payout ratio is 13.74%.

Insider Transactions at WESCO International

In other news, Director Steven A. Raymund sold 5,819 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $171.56, for a total value of $998,307.64. Following the completion of the sale, the director now owns 27,004 shares of the company’s stock, valued at approximately $4,632,806.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 3.10% 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).