WESCO International (NYSE:WCC) Issues FY 2024 Earnings Guidance

WESCO International (NYSE:WCC) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 12.000-13.000 for the period, compared to the consensus estimate of 12.180. The company issued revenue guidance of $21.6 billion-$22.0 billion, compared to the consensus revenue estimate of $22.2 billion. WESCO International also updated its FY24 guidance to $12-13 EPS.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on WCC shares. Royal Bank of Canada increased their price target on shares of WESCO International from $171.00 to $187.00 and gave the stock a sector perform rating in a research note on Friday. Robert W. Baird decreased their target price on WESCO International from $195.00 to $172.00 and set a neutral rating for the company in a research report on Friday, August 2nd. Loop Capital raised their target price on WESCO International from $190.00 to $210.00 and gave the company a buy rating in a research note on Friday. Stephens reaffirmed an overweight rating and issued a $190.00 price target on shares of WESCO International in a research note on Monday, August 5th. Finally, StockNews.com downgraded WESCO International from a buy rating to a hold rating in a report on Tuesday, July 2nd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, WESCO International presently has a consensus rating of Moderate Buy and an average price target of $189.86.

WESCO International Price Performance

Shares of NYSE:WCC opened at $171.58 on Friday. The business has a fifty day moving average price of $161.63 and a 200-day moving average price of $166.36. 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 company has a market capitalization of $8.72 billion, a PE ratio of 14.29, a PEG 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.

WESCO International (NYSE:WCC) last posted its earnings results on Thursday, August 1st. The technology company reported $3.21 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.27). The business had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.55 billion. WESCO International had a return on equity of 14.44% and a net margin of 3.30%. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.71 EPS. As a group, equities analysts expect that WESCO International will post 12.14 EPS for the current fiscal year.

WESCO International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, September 13th. WESCO International’s payout ratio is presently 13.74%.

Insider Activity

In related news, Director Steven A. Raymund sold 5,819 shares of the firm’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 value of $998,307.64. Following the sale, the director now owns 27,004 shares in the company, valued at $4,632,806.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.10% of the stock is owned by corporate insiders.

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).