WESCO International (NYSE:WCC) Issues FY 2022 Earnings Guidance

WESCO International (NYSE:WCCGet Rating) updated its FY 2022 earnings guidance on Thursday. The company provided EPS guidance of $15.60-$16.40 for the period. The company issued revenue guidance of $21.13 billion-$21.50 billion, compared to the consensus revenue estimate of $20.82 billion. WESCO International also updated its FY22 guidance to $15.60-$16.40 EPS.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. StockNews.com lowered shares of WESCO International from a buy rating to a hold rating in a report on Thursday, July 21st. KeyCorp raised their price target on shares of WESCO International from $150.00 to $155.00 and gave the company an overweight rating in a report on Friday. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $160.00.

WESCO International Stock Up 1.5 %

NYSE:WCC traded up $1.94 during trading hours on Friday, hitting $132.44. The stock had a trading volume of 581,263 shares, compared to its average volume of 472,660. WESCO International has a 1-year low of $99.00 and a 1-year high of $144.43. The company has a current ratio of 2.11, a quick ratio of 1.23 and a debt-to-equity ratio of 1.22. The company has a market cap of $6.72 billion, a PE ratio of 10.95, a price-to-earnings-growth ratio of 0.83 and a beta of 2.15. The business has a 50 day simple moving average of $116.78 and a two-hundred day simple moving average of $121.69.

WESCO International (NYSE:WCCGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The technology company reported $4.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.81 by $0.38. The firm had revenue of $5.50 billion for the quarter, compared to analysts’ expectations of $5.31 billion. WESCO International had a return on equity of 19.75% and a net margin of 3.45%. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period last year, the business posted $2.64 earnings per share. Analysts predict that WESCO International will post 15.76 EPS for the current year.

WESCO International declared that its board has initiated a share repurchase program on Wednesday, June 1st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the technology company to repurchase up to 14.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

An institutional investor recently raised its position in WESCO International stock. Neuberger Berman Group LLC increased its stake in WESCO International, Inc. (NYSE:WCCGet Rating) by 4.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,479 shares of the technology company’s stock after purchasing an additional 2,304 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.11% of WESCO International worth $7,220,000 as of its most recent filing with the Securities and Exchange Commission. 92.83% of the stock is owned by institutional investors and hedge funds.

About WESCO International

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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).

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Earnings History and Estimates for WESCO International (NYSE:WCC)

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