WESCO International, Inc. (NYSE:WCC) to Issue Dividend Increase – $0.45 Per Share

WESCO International, Inc. (NYSE:WCC) announced a quarterly dividend on Thursday, February 27th, RTT News reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.4538 per share by the technology company on Monday, March 31st. This represents a $1.82 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Friday, March 14th. This is a 10.0% increase from WESCO International’s previous quarterly dividend of $0.41.

WESCO International has a payout ratio of 11.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect WESCO International to earn $15.86 per share next year, which means the company should continue to be able to cover its $1.82 annual dividend with an expected future payout ratio of 11.5%.

WESCO International Stock Performance

Shares of WCC opened at $158.37 on Wednesday. The company’s 50 day simple moving average is $184.12 and its 200-day simple moving average is $182.52. The firm has a market cap of $7.73 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 1.45 and a beta of 2.00. WESCO International has a 12-month low of $143.06 and a 12-month high of $216.17. The company has a current ratio of 2.20, a quick ratio of 1.27 and a debt-to-equity ratio of 1.02.

WESCO International (NYSE:WCC) last issued its quarterly earnings data on Tuesday, February 11th. The technology company reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.23 by ($0.07). WESCO International had a return on equity of 13.63% and a net margin of 3.29%. As a group, equities analysts predict that WESCO International will post 13.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on WCC. StockNews.com downgraded WESCO International from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Jefferies Financial Group upped their price target on WESCO International from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Royal Bank of Canada lifted their price objective on shares of WESCO International from $212.00 to $213.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. KeyCorp upped their price objective on shares of WESCO International from $225.00 to $245.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Finally, Stephens lifted their target price on shares of WESCO International from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $218.88.

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).