Wesco International (WCC) Gains As Market Dips: What You Should Know
In the latest trading session, Wesco International (WCC) closed at $167.90, marking a +0.18% move from the previous day. This move outpaced the S&P 500's daily loss of 0.77%. Meanwhile, the Dow lost 0.65%, and the Nasdaq, a tech-heavy index, lost 2.23%.
Heading into today, shares of the maker of electrical and industrial maintenance supplies and construction materials had gained 25.44% over the past month, outpacing the Computer and Technology sector's gain of 6.75% and the S&P 500's gain of 4.66% in that time.
Wall Street will be looking for positivity from Wesco International as it approaches its next earnings report date. On that day, Wesco International is projected to report earnings of $4.46 per share, which would represent year-over-year growth of 6.44%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.95 billion, up 8.45% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $17.41 per share and revenue of $23.15 billion. These totals would mark changes of +6.03% and +8.06%, respectively, from last year.
Any recent changes to analyst estimates for Wesco International should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.1% lower within the past month. Wesco International is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Wesco International currently has a Forward P/E ratio of 9.62. This represents a premium compared to its industry's average Forward P/E of 9.07.
It is also worth noting that WCC currently has a PEG ratio of 0.96. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Electronics - Parts Distribution stocks are, on average, holding a PEG ratio of 0.86 based on yesterday's closing prices.
The Electronics - Parts Distribution industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 115, which puts it in the top 46% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow WCC in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
WESCO International, Inc. (WCC) : Free Stock Analysis Report
