KeyCorp Issues Pessimistic Forecast for WESCO International (NYSE:WCC) Stock Price

WESCO International (NYSE:WCC) had its price objective trimmed by KeyCorp from $245.00 to $205.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

Several other research analysts also recently issued reports on the stock. Jefferies Financial Group upped their price target on shares of 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 downgraded shares of WESCO International from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Royal Bank of Canada upped their price target on shares of WESCO International from $212.00 to $213.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. Finally, Stephens upped their target price on shares of WESCO International from $205.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $219.43.

WESCO International Stock Up 2.8 %

WCC opened at $166.05 on Monday. The firm’s 50-day simple moving average is $181.81 and its 200-day simple moving average is $182.33. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.27 and a current ratio of 2.20. WESCO International has a twelve month low of $143.06 and a twelve month high of $216.17. The firm has a market cap of $8.10 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.45 and a beta of 2.00.

WESCO International (NYSE:WCC) last issued its quarterly earnings results 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%. Equities research analysts anticipate that WESCO International will post 13.3 EPS for the current fiscal year.

WESCO International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.4538 per share. This is a positive change from WESCO International’s previous quarterly dividend of $0.41. This represents a $1.82 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Friday, March 14th. WESCO International’s payout ratio is presently 13.85%.

Institutional Trading of WESCO International

A number of institutional investors and hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC grew its holdings in WESCO International by 39.9% during the fourth quarter. V Square Quantitative Management LLC now owns 235 shares of the technology company’s stock valued at $43,000 after purchasing an additional 67 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in WESCO International by 43.5% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 267 shares of the technology company’s stock worth $48,000 after purchasing an additional 81 shares during the period. GAMMA Investing LLC boosted its position in shares of WESCO International by 25.0% during the fourth quarter. GAMMA Investing LLC now owns 375 shares of the technology company’s stock worth $68,000 after purchasing an additional 75 shares in the last quarter. Millstone Evans Group LLC acquired a new position in shares of WESCO International in the 4th quarter valued at $122,000. Finally, Raiffeisen Bank International AG bought a new stake in shares of WESCO International in the 4th quarter valued at $180,000. 93.76% of the stock is owned by 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).