WESCO International, Inc. (NYSE:WCC) Plans Quarterly Dividend of $0.45

WESCO International, Inc. (NYSE:WCC) announced a quarterly dividend on Thursday, February 27th, RTT News reports. Stockholders of record on Friday, March 14th will be given a dividend of 0.4538 per share by the technology company on Monday, March 31st. This represents a $1.82 annualized dividend and a dividend yield of 1.01%. This is a boost from WESCO International’s previous quarterly dividend of $0.41.

WESCO International has a payout ratio of 10.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect WESCO International to earn $15.86 per share next year, which means the company should continue to be able to cover its $1.65 annual dividend with an expected future payout ratio of 10.4%.

WESCO International Stock Down 1.0 %

WCC traded down $1.77 during trading hours on Thursday, reaching $179.43. 703,737 shares of the stock traded hands, compared to its average volume of 704,389. The firm’s fifty day simple moving average is $186.08 and its two-hundred day simple moving average is $181.75. The company has a market cap of $8.76 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 1.45 and a beta of 2.01. WESCO International has a fifty-two week low of $143.06 and a fifty-two week high of $216.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.20 and a quick ratio of 1.27.

WESCO International (NYSE:WCC) last posted its quarterly earnings results on Tuesday, February 11th. The technology company reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, analysts forecast that WESCO International will post 13.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. StockNews.com cut shares of WESCO International from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Oppenheimer raised their price target on shares of WESCO International from $205.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Royal Bank of Canada raised their price target on shares of WESCO International from $212.00 to $213.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. 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 research note on Tuesday, February 18th. Finally, Jefferies Financial Group boosted their price objective on shares of WESCO International from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.88.

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).