WESCO International (NYSE:WCC) Hits New 52-Week Low – Here’s Why

WESCO International, Inc. (NYSE:WCC)’s share price hit a new 52-week low on Thursday . The company traded as low as $141.30 and last traded at $143.20, with a volume of 1374916 shares. The stock had previously closed at $162.39.

Wall Street Analysts Forecast Growth

WCC has been the subject of several recent research reports. Stephens increased their price target on WESCO International from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. KeyCorp dropped their target price on WESCO International from $245.00 to $205.00 and set an “overweight” rating on the stock in a report on Monday, March 17th. StockNews.com cut WESCO International from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Jefferies Financial Group lifted their price objective on shares of WESCO International from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada upped their target price on shares of WESCO International from $212.00 to $213.00 and gave the company a “sector perform” rating in a research note 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $219.43.

WESCO International Stock Performance

The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.27 and a current ratio of 2.20. The company has a market capitalization of $6.63 billion, a PE ratio of 10.40, a PEG ratio of 1.45 and a beta of 1.83. The company has a 50 day moving average price of $174.02 and a 200 day moving average price of $182.35.

WESCO International (NYSE:WCC) last posted its quarterly earnings results on Tuesday, February 11th. The technology company reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.23 by ($0.07). WESCO International had a net margin of 3.29% and a return on equity of 13.63%. Equities analysts forecast that WESCO International, Inc. will post 13.3 EPS for the current year.

WESCO International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.4538 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 1.33%. This is an increase from WESCO International’s previous quarterly dividend of $0.41. The ex-dividend date was Friday, March 14th. WESCO International’s dividend payout ratio (DPR) is 13.85%.

Institutional Investors Weigh In On WESCO International

A number of institutional investors have recently made changes to their positions in WCC. BNP Paribas Financial Markets increased its holdings in shares of WESCO International by 80.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,034 shares of the technology company’s stock worth $2,021,000 after acquiring an additional 5,363 shares during the period. Geode Capital Management LLC grew its position in WESCO International by 3.0% in the third quarter. Geode Capital Management LLC now owns 762,653 shares of the technology company’s stock worth $128,143,000 after buying an additional 22,080 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of WESCO International during the third quarter worth $592,000. GAMMA Investing LLC boosted its position in shares of WESCO International by 25.0% in the 4th quarter. GAMMA Investing LLC now owns 375 shares of the technology company’s stock valued at $68,000 after purchasing an additional 75 shares during the period. Finally, Integrated Investment Consultants LLC purchased a new position in WESCO International in the 4th quarter worth about $278,000. 93.76% of the stock is currently owned by institutional investors.

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).