WESCO International (NYSE:WCC) Releases FY24 Earnings Guidance

WESCO International (NYSE:WCC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $12-13 for the period, compared to the consensus EPS 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.

Analyst Ratings Changes

A number of analysts have commented on the company. Loop Capital reduced their price target on WESCO International from $200.00 to $190.00 and set a buy rating for the company in a research report on Tuesday, August 6th. Baird R W lowered WESCO International from a strong-buy rating to a hold rating in a research report on Wednesday, May 29th. Royal Bank of Canada lowered their price objective on shares of WESCO International from $175.00 to $171.00 and set a sector perform rating for the company in a research report on Friday, August 2nd. Robert W. Baird cut their target price on shares of WESCO International from $195.00 to $172.00 and set a neutral rating on the stock in a research report on Friday, August 2nd. Finally, StockNews.com lowered WESCO International from a buy rating to a hold rating in a research report on Tuesday, July 2nd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $184.71.

WESCO International Stock Down 2.9 %

Shares of NYSE WCC opened at $163.23 on Thursday. The company has a quick ratio of 1.34, a current ratio of 2.28 and a debt-to-equity ratio of 1.07. WESCO International has a 52-week low of $122.30 and a 52-week high of $195.43. The business has a 50-day moving average price of $161.58 and a 200 day moving average price of $166.19. 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.

WESCO International (NYSE:WCC) last released its quarterly earnings data 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). The firm had revenue of $5.48 billion during the quarter, compared to analysts’ expectations of $5.55 billion. WESCO International had a net margin of 3.30% and a return on equity of 14.44%. The business’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 earned $3.71 earnings per share. Equities research analysts forecast that WESCO International will post 12.14 earnings per share for the current year.

WESCO International Dividend Announcement

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 paid a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, September 13th. WESCO International’s dividend payout ratio is presently 13.74%.

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).