Q3 2016 Earnings Estimate for Wesco International Inc. Issued By William Blair (WCC)
Wesco International Inc. (NYSE:WCC) – Stock analysts at William Blair decreased their Q3 2016 earnings per share (EPS) estimates for shares of Wesco International in a research note issued on Friday. William Blair analyst R. Merkel now anticipates that the brokerage will post earnings per share of $1.11 for the quarter, down from their prior forecast of $1.12.
Wesco International (NYSE:WCC) last posted its earnings results on Thursday, July 28th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.05. Wesco International had a return on equity of 10.73% and a net margin of 2.65%. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the previous year, the firm earned $1.00 earnings per share. The business’s revenue was down .3% compared to the same quarter last year.
Other equities analysts have also recently issued research reports about the company. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Wesco International in a report on Sunday, September 4th. Credit Suisse Group AG initiated coverage on Wesco International in a research note on Saturday, June 18th. They set a “buy” rating for the company. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Wesco International in a research note on Wednesday, September 7th. They noted that the move was a valuation call. Citigroup Inc. lowered Wesco International to a “market perform” rating and set a $65.00 price objective for the company. in a research note on Wednesday, September 7th. They noted that the move was a valuation call. Finally, TheStreet lowered Wesco International from a “buy” rating to a “hold” rating in a research note on Tuesday, June 14th. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Wesco International currently has an average rating of “Hold” and an average target price of $59.71.
Wesco International (NYSE:WCC) opened at 61.59 on Monday. Wesco International has a 1-year low of $34.00 and a 1-year high of $63.90. The stock has a market capitalization of $2.60 billion, a PE ratio of 15.07 and a beta of 2.05. The stock’s 50 day moving average price is $60.36 and its 200 day moving average price is $56.96.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new position in Wesco International during the second quarter worth approximately $218,000. Janus Capital Management LLC bought a new stake in shares of Wesco International during the second quarter valued at about $278,000. Oregon Public Employees Retirement Fund boosted its stake in shares of Wesco International by 8.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 6,414 shares of the company’s stock valued at $330,000 after buying an additional 500 shares during the last quarter. Neuberger Berman Group LLC bought a new stake in shares of Wesco International during the second quarter valued at about $334,000. Finally, Nomura Holdings Inc. bought a new stake in shares of Wesco International during the second quarter valued at about $524,000.
In other Wesco International news, Director James Louis Singleton sold 2,638 shares of the company’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $63.29, for a total transaction of $166,959.02. Following the transaction, the director now directly owns 12,305 shares in the company, valued at $778,783.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.00% of the company’s stock.
Wesco International Company Profile
WESCO International, Inc is a distributor of products and provider of supply chain management and logistics services used in industrial, construction, utility and commercial, institutional and government (CIG) markets. The Company is a provider of electrical, industrial and communications maintenance, repair and operating (MRO) and original equipment manufacturers (OEM) products, construction materials, and supply chain management and logistics services.
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