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

WESCO International (NYSE:WCC) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 12.000-13.000 for the period, compared to the consensus EPS 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 Stock Performance

Shares of WCC stock opened at $172.11 on Friday. WESCO International has a 52-week low of $122.30 and a 52-week high of $195.43. The company has a quick ratio of 1.34, a current ratio of 2.28 and a debt-to-equity ratio of 1.07. The stock has a market cap of $8.46 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 1.38 and a beta of 2.03. The business has a 50-day simple moving average of $161.59 and a 200-day simple moving average of $166.23.

WESCO International (NYSE:WCC) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $3.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.27). The company 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 company’s revenue was down 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.71 earnings per share. On average, equities analysts expect that WESCO International will post 12.14 EPS for the current year.

WESCO International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Friday, September 13th. WESCO International’s dividend payout ratio (DPR) is presently 13.74%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WCC. Loop Capital decreased their price objective on shares of WESCO International from $200.00 to $190.00 and set a buy rating for the company in a research report on Tuesday, August 6th. Stephens reaffirmed 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 dropped their price objective on WESCO International from $195.00 to $172.00 and set a neutral rating on the stock in a report on Friday, August 2nd. KeyCorp cut their price objective 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. Finally, Royal Bank of Canada decreased their target price on WESCO International from $175.00 to $171.00 and set a sector perform 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $184.71.

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).