WESCO International (NYSE:WCC) Price Target Lowered to $220.00 at Loop Capital

WESCO International (NYSE:WCC) had its price target cut by Loop Capital from $250.00 to $220.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other analysts have also commented on WCC. Oppenheimer cut their target price on shares of WESCO International from $225.00 to $195.00 and set an “outperform” rating for the company in a research note on Monday, May 5th. KeyCorp cut their target price on shares of WESCO International from $245.00 to $205.00 and set an “overweight” rating for the company in a research note on Monday, March 17th. Stephens increased their target price on shares of WESCO International from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Royal Bank of Canada boosted their price target on shares of WESCO International from $212.00 to $213.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. Finally, StockNews.com lowered shares of WESCO International from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $216.57.

WESCO International Stock Performance

WCC stock opened at $173.63 on Monday. The company has a 50-day simple moving average of $156.99 and a 200 day simple moving average of $179.03. The company has a market capitalization of $8.47 billion, a P/E ratio of 13.28, a PEG ratio of 1.45 and a beta of 1.92. The company has a quick ratio of 1.27, a current ratio of 2.20 and a debt-to-equity ratio of 1.02. WESCO International has a fifty-two week low of $125.21 and a fifty-two week high of $216.17.

WESCO International (NYSE:WCC) last released its earnings results on Thursday, May 1st. The technology company reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.02). The firm had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.27 billion. WESCO International had a return on equity of 13.63% and a net margin of 3.29%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the company earned $2.30 earnings per share. Sell-side analysts predict that WESCO International will post 13.3 earnings per share for the current fiscal year.

WESCO International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.4538 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 1.05%. This is an increase from WESCO International’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, March 14th. WESCO International’s dividend payout ratio (DPR) is presently 13.69%.

Institutional Investors Weigh In On WESCO International

A number of hedge funds have recently made changes to their positions in WCC. V Square Quantitative Management LLC increased its position in shares of WESCO International by 39.9% during the 4th quarter. V Square Quantitative Management LLC now owns 235 shares of the technology company’s stock worth $43,000 after purchasing an additional 67 shares in the last quarter. Whittier Trust Co. raised its stake in shares of WESCO International by 46.8% in the first quarter. Whittier Trust Co. now owns 279 shares of the technology company’s stock worth $43,000 after acquiring an additional 89 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of WESCO International by 43.5% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 267 shares of the technology company’s stock worth $48,000 after acquiring an additional 81 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of WESCO International by 25.0% in the fourth quarter. GAMMA Investing LLC now owns 375 shares of the technology company’s stock worth $68,000 after acquiring an additional 75 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of WESCO International by 21.1% in the first quarter. Parallel Advisors LLC now owns 447 shares of the technology company’s stock worth $69,000 after acquiring an additional 78 shares during the last quarter. Institutional investors and hedge funds own 93.76% of the company’s stock.

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).