WESCO International (NYSE:WCC – Get 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
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
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).
- Get a free copy of the StockNews.com research report on WESCO International (WCC)
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Cronos Group Inc’s Revenues Are Up, Is It Time to Buy?
- Why Apple Could Be At All-Time Highs By Year End
- Beyond Meat Is Not Beyond Hope, And It’s Cheap
- BJ’s Wholesale Club Stock Has More Room to Grow
Receive News & Ratings for WESCO International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WESCO International and related companies with MarketBeat.com's FREE daily email newsletter.