WESCO International (NYSE:WCC) Issues FY24 Earnings Guidance

WESCO International (NYSE:WCC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $12-13 for the period, compared to the consensus estimate of $12.15. The company issued revenue guidance of down 1.5-3.5% yr/yr to ~$, compared to the consensus revenue estimate of $21.73 billion. WESCO International also updated its FY 2024 guidance to 12.000-13.000 EPS.

WESCO International Trading Down 0.3 %

Shares of WESCO International stock opened at $171.58 on Friday. The firm has a market cap of $8.72 billion, a PE ratio of 14.29, a P/E/G ratio of 1.38 and a beta of 2.03. WESCO International has a 1 year low of $122.30 and a 1 year high of $195.43. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.28 and a quick ratio of 1.34. The stock has a fifty day moving average price of $161.63 and a 200-day moving average price of $166.36.

WESCO International (NYSE:WCC) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $3.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.27). The company had revenue of $5.48 billion for the quarter, compared to analysts’ expectations of $5.55 billion. WESCO International had a return on equity of 14.44% and a net margin of 3.30%. The business’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the business posted $3.71 EPS. Equities research analysts anticipate that WESCO International will post 12.14 EPS for the current year.

WESCO International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.4125 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.65 annualized dividend and a yield of 0.96%. WESCO International’s payout ratio is 13.74%.

Analysts Set New Price Targets

WCC has been the subject of a number of recent research reports. Loop Capital raised their target price on WESCO International from $190.00 to $210.00 and gave the stock a buy rating in a research report on Friday. Royal Bank of Canada boosted their price objective on WESCO International from $171.00 to $187.00 and gave the company a sector perform rating in a research note on Friday. KeyCorp cut their target price on shares of WESCO International from $205.00 to $195.00 and set an overweight rating for the company in a research report on Friday, August 2nd. Stephens reissued an overweight rating and issued a $190.00 price target on shares of WESCO International in a research report on Monday, August 5th. Finally, StockNews.com cut shares of WESCO International from a buy rating to a hold rating in a research note on Tuesday, July 2nd. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, WESCO International has an average rating of Moderate Buy and an average price target of $189.86.

Insider Activity

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

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).