Zacks reaffirmed their neutral rating on shares of Wesco International (NYSE:WCC) in a report released on Tuesday, AnalystRatingsNetwork reports. Zacks currently has a $85.00 price objective on the stock.
Zacks’ analyst wrote, “WESCO is one of the largest distributors of electrical products in the U.S. The company’s third quarter 2013 earnings exceeded the Zacks Consensus Estimate and guidance was encouraging. WESCO’s strong market position, the turnaround in the industrial and utility markets, gradual recovery in the construction market, the global account model, restructuring benefits and the LEAN initiative are positive factors. However, results bear a positive correlation to GDP growth, which has been sluggish in recent times. Additionally, while EECOL will add to earnings this year, it resulted in a significant increase in debts, which makes the shares more risky. We have neutral recommendation on WESCO shares”
Several other analysts have also recently commented on the stock. Analysts at Wunderlich reiterated a buy rating on shares of Wesco International in a research note to investors on Monday, October 7th. They now have a $94.00 price target on the stock. Separately, analysts at Barclays raised their price target on shares of Wesco International from $79.00 to $85.00 in a research note to investors on Monday, October 7th. They now have an overweight rating on the stock. Finally, analysts at Robert W. Baird raised their price target on shares of Wesco International from $80.00 to $88.00 in a research note to investors on Friday, October 4th. They now have an outperform rating on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. Wesco International has an average rating of Hold and an average price target of $77.38.
Wesco International (NYSE:WCC) traded up 0.75% on Tuesday, hitting $85.66. 647,963 shares of the company’s stock traded hands. Wesco International has a one year low of $55.02 and a one year high of $85.29. The stock’s 50-day moving average is $77.64 and its 200-day moving average is $73.64. The company has a market cap of $4.497 billion and a P/E ratio of 18.07.
Wesco International (NYSE:WCC) last announced its earnings results on Thursday, October 24th. The company reported $1.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.42. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the previous year, the company posted $1.25 earnings per share. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, analysts predict that Wesco International will post $5.12 earnings per share for the current fiscal year.
WESCO International, Inc (NYSE:WCC) is a distributor of products and provider of supply chain management and logistics services used primarily in industrial, construction, utility and commercial, institutional and government (CIG) markets.
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