WESCO International, Inc. (NYSE:WCC - Get Free Report) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totalling 2,010,000 shares, a growth of 50.0% from the August 31st total of 1,340,000 shares. Currently, 4.5% of the company's stock are sold short. Based on an average daily trading volume, of 685,200 shares, the days-to-cover ratio is presently 2.9 days.
Several brokerages recently issued reports on WCC. Stephens restated an "overweight" rating and set a $190.00 price objective on shares of WESCO International in a research note on Monday, August 5th. Robert W. Baird decreased their price target on shares of WESCO International from $195.00 to $172.00 and set a "neutral" rating for the company in a report on Friday, August 2nd. StockNews.com lowered shares of WESCO International from a "buy" rating to a "hold" rating in a research note on Tuesday, July 2nd. Loop Capital decreased their target price on WESCO International from $200.00 to $190.00 and set a "buy" rating for the company in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada lowered their target price on WESCO International from $175.00 to $171.00 and set a "sector perform" rating for the company in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $184.71.
View Our Latest Analysis on WCC
Shares of NYSE:WCC opened at $172.11 on Friday. The firm's 50 day moving average is $161.59 and its two-hundred day moving average is $166.23. The firm has a market capitalization of $8.46 billion, a P/E ratio of 14.33, a PEG ratio of 1.38 and a beta of 2.03. The company has a current ratio of 2.28, a quick ratio of 1.34 and a debt-to-equity ratio of 1.07. WESCO International has a 52 week low of $122.30 and a 52 week high of $195.43.
WESCO International (NYSE:WCC - Get Free Report) last announced its earnings results on Thursday, August 1st. The technology company reported $3.21 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.27). WESCO International had a net margin of 3.30% and a return on equity of 14.44%. The business had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.55 billion. During the same period in the previous year, the firm earned $3.71 EPS. The firm's revenue was down 4.6% on a year-over-year basis. Analysts anticipate that WESCO International will post 12.14 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, September 13th. WESCO International's dividend payout ratio is currently 13.74%.
A number of hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. lifted its position in WESCO International by 23,727.4% in the second quarter. Pacer Advisors Inc. now owns 1,589,048 shares of the technology company's stock worth $251,896,000 after purchasing an additional 1,582,379 shares during the period. Lyrical Asset Management LP lifted its holdings in shares of WESCO International by 2,583.9% in the fourth quarter. Lyrical Asset Management LP now owns 765,124 shares of the technology company's stock valued at $133,040,000 after buying an additional 736,616 shares during the period. Clearbridge Investments LLC bought a new position in WESCO International during the second quarter valued at about $52,782,000. Neo Ivy Capital Management acquired a new position in WESCO International during the second quarter worth about $5,916,000. Finally, Russell Investments Group Ltd. raised its position in WESCO International by 74.8% in the first quarter. Russell Investments Group Ltd. now owns 72,897 shares of the technology company's stock worth $12,486,000 after acquiring an additional 31,200 shares in the last quarter. Institutional investors and hedge funds own 93.76% of the company's stock.
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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