WESCO International (NYSE:WCC) Posts Earnings Results, Beats Estimates By $0.38 EPS

WESCO International (NYSE:WCCGet Rating) posted its earnings results on Thursday. The technology company reported $4.19 EPS for the quarter, topping analysts’ consensus estimates of $3.81 by $0.38, Briefing.com reports. The firm had revenue of $5.50 billion during the quarter, compared to analysts’ expectations of $5.31 billion. WESCO International had a net margin of 3.07% and a return on equity of 17.89%. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.64 earnings per share. WESCO International updated its FY 2022 guidance to $15.60-$16.40 EPS and its FY22 guidance to $15.60-$16.40 EPS.

WESCO International Trading Up 1.5 %

NYSE:WCC traded up $1.94 on Friday, reaching $132.44. 581,258 shares of the stock traded hands, compared to its average volume of 537,529. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 0.88 and a beta of 2.15. The company’s 50 day moving average is $116.78 and its 200-day moving average is $121.69. The company has a current ratio of 2.11, a quick ratio of 1.23 and a debt-to-equity ratio of 1.22. WESCO International has a 1-year low of $99.00 and a 1-year high of $144.43.

WESCO International announced that its board has authorized a share repurchase plan on Wednesday, June 1st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the technology company to reacquire up to 14.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Institutional Trading of WESCO International

An institutional investor recently raised its position in WESCO International stock. MetLife Investment Management LLC raised its position in shares of WESCO International, Inc. (NYSE:WCCGet Rating) by 55.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 23,551 shares of the technology company’s stock after purchasing an additional 8,430 shares during the quarter. MetLife Investment Management LLC’s holdings in WESCO International were worth $3,065,000 at the end of the most recent quarter. 92.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WCC has been the subject of a number of research reports. KeyCorp increased their target price on shares of WESCO International from $150.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday. StockNews.com downgraded WESCO International from a “buy” rating to a “hold” rating in a research note on Thursday, July 21st. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $160.00.

WESCO International Company Profile

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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).

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Earnings History for WESCO International (NYSE:WCC)

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