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

WESCO International (NYSE:WCC) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 12.000-13.000 for the period, compared to the consensus EPS 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.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Loop Capital dropped their target price on shares of WESCO International from $200.00 to $190.00 and set a buy rating on the stock in a report on Tuesday, August 6th. Baird R W downgraded shares of WESCO International from a strong-buy rating to a hold rating in a research note on Wednesday, May 29th. Stephens reaffirmed an overweight rating and set a $190.00 price target on shares of WESCO International in a research note on Monday, August 5th. KeyCorp reduced their price target on shares of WESCO International from $205.00 to $195.00 and set an overweight rating for the company in a report on Friday, August 2nd. Finally, StockNews.com cut shares of WESCO International from a buy rating to a hold rating in a report on Tuesday, July 2nd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $184.71.

WESCO International Stock Down 2.9 %

WESCO International stock opened at $163.23 on Thursday. WESCO International has a fifty-two week low of $122.30 and a fifty-two week high of $195.43. The stock has a market cap of $8.02 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.38 and a beta of 2.03. The firm’s 50-day simple moving average is $161.58 and its 200 day simple moving average is $166.19. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.34 and a current ratio of 2.28.

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

WESCO International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $0.4125 dividend. This represents a $1.65 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, September 13th. WESCO International’s dividend payout ratio is 13.74%.

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).