Royal Bank of Canada Boosts WESCO International (NYSE:WCC) Price Target to $187.00

WESCO International (NYSE:WCC) had its target price raised by Royal Bank of Canada from $171.00 to $187.00 in a report published on Friday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the technology company’s stock.

WCC has been the subject of a number of other reports. StockNews.com cut shares of WESCO International from a buy rating to a hold rating in a research note on Tuesday, July 2nd. KeyCorp dropped their target price on WESCO International from $205.00 to $195.00 and set an overweight rating for the company in a research report on Friday, August 2nd. Stephens reiterated an overweight rating and issued a $190.00 price target on shares of WESCO International in a report on Monday, August 5th. Robert W. Baird decreased their price target on WESCO International from $195.00 to $172.00 and set a neutral rating for the company in a research note on Friday, August 2nd. Finally, Loop Capital upped their price objective on WESCO International from $190.00 to $210.00 and gave the company a buy rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $189.86.

WESCO International Trading Down 0.3 %

Shares of WCC stock opened at $171.52 on Friday. The company has a market cap of $8.72 billion, a PE ratio of 14.28, a price-to-earnings-growth 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. The stock’s 50 day simple moving average is $161.63 and its two-hundred day simple moving average is $166.33. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.28 and a quick ratio of 1.34.

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). The company had revenue of $5.48 billion for 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 quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.71 EPS. Research analysts predict that WESCO International will post 12.14 earnings per share for the current year.

WESCO International Announces Dividend

The company 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 $0.4125 dividend. This represents a $1.65 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, September 13th. WESCO International’s dividend payout ratio is 13.74%.

Insider Activity

In related news, Director Steven A. Raymund sold 5,819 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $171.56, for a total value of $998,307.64. Following the completion of the sale, the director now directly owns 27,004 shares of the company’s stock, valued at $4,632,806.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On WESCO International

Several hedge funds have recently modified their holdings of the business. Rise Advisors LLC purchased a new position in WESCO International during the first quarter valued at approximately $26,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of WESCO International by 71.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock valued at $26,000 after acquiring an additional 69 shares during the period. GAMMA Investing LLC raised its position in shares of WESCO International by 65.4% in the 2nd quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock worth $40,000 after acquiring an additional 100 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of WESCO International during the 2nd quarter worth $152,000. Finally, TimesSquare Capital Management LLC bought a new stake in WESCO International during the first quarter valued at about $463,000. Hedge funds and other institutional investors own 93.76% of the company’s stock.

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).