WESCO International (NYSE:WCC) Releases FY24 Earnings Guidance

WESCO International (NYSE:WCC) updated its FY24 earnings guidance on Thursday. 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 Stock Down 2.9 %

NYSE:WCC opened at $163.23 on Thursday. WESCO International has a 52 week low of $122.30 and a 52 week high of $195.43. The stock’s fifty day moving average is $161.58 and its two-hundred day moving average is $166.19. The stock has a market capitalization of $8.02 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 1.38 and a beta of 2.03. 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 (NYSE:WCC) last released its 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). The firm had revenue of $5.48 billion during the quarter, compared to analyst estimates 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 was down 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.71 earnings per share. Research analysts anticipate that WESCO International will post 12.14 EPS for the current year.

WESCO International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.4125 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.65 dividend on an annualized basis and a yield of 1.01%. WESCO International’s dividend payout ratio (DPR) is presently 13.74%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Stephens reiterated an overweight rating and issued a $190.00 price objective on shares of WESCO International in a research note on Monday, August 5th. Loop Capital reduced their price target on WESCO International from $200.00 to $190.00 and set a buy rating on the stock in a research report on Tuesday, August 6th. Baird R W downgraded WESCO International from a strong-buy rating to a hold rating in a research report on Wednesday, May 29th. Robert W. Baird reduced their target price on shares of WESCO International from $195.00 to $172.00 and set a neutral rating on the stock in a report on Friday, August 2nd. Finally, KeyCorp dropped their price objective on shares of WESCO International from $205.00 to $195.00 and set an overweight rating on the stock in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $184.71.

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).