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

WESCO International (NYSE:WCC) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 12.000-13.000 for the period, compared to the consensus earnings per share 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. WESCO International also updated its FY24 guidance to $12-13 EPS.

WESCO International Price Performance

Shares of NYSE:WCC opened at $172.11 on Friday. The firm has a market cap of $8.46 billion, a price-to-earnings ratio of 14.33, a P/E/G ratio of 1.38 and a beta of 2.03. The firm has a fifty day moving average price of $161.59 and a 200 day moving average price of $166.23. WESCO International has a fifty-two week low of $122.30 and a fifty-two week high of $195.43. 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 announced its quarterly earnings results on Thursday, August 1st. The technology company reported $3.21 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.27). The firm had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.55 billion. WESCO International had a net margin of 3.30% and a return on equity of 14.44%. WESCO International’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.71 earnings per share. As a group, sell-side analysts expect that WESCO International will post 12.14 earnings per share for the current fiscal year.

WESCO International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a $0.4125 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.65 annualized dividend and a yield of 0.96%. WESCO International’s dividend payout ratio is currently 13.74%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. KeyCorp cut 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. Robert W. Baird reduced their price objective 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. Stephens restated an overweight rating and set a $190.00 target price on shares of WESCO International in a research report 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 report on Tuesday, August 6th. Finally, StockNews.com cut WESCO International from a buy rating to a hold rating in a report on Tuesday, July 2nd. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average 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).