Wesco International (WCC) Stock Sinks As Market Gains: What You Should Know
Wesco International (WCC) closed the most recent trading day at $175.54, moving -0.38% from the previous trading session. This move lagged the S&P 500's daily gain of 0.45%. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 1.99%.
Heading into today, shares of the maker of electrical and industrial maintenance supplies and construction materials had gained 28.26% over the past month, outpacing the Computer and Technology sector's gain of 3.21% and the S&P 500's gain of 4.25% in that time.
Wall Street will be looking for positivity from Wesco International as it approaches its next earnings report date. In that report, analysts expect Wesco International to post earnings of $4.46 per share. This would mark year-over-year growth of 6.44%. Our most recent consensus estimate is calling for quarterly revenue of $5.95 billion, up 8.53% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $17.41 per share and revenue of $23.16 billion, which would represent changes of +6.03% and +8.13%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Wesco International. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually 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 10.12. This represents a premium compared to its industry's average Forward P/E of 9.32.
Investors should also note that WCC has a PEG ratio of 1.01 right now. 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. The Electronics - Parts Distribution was holding an average PEG ratio of 0.85 at yesterday's closing price.
The Electronics - Parts Distribution industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 111, which puts it in the top 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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WESCO International, Inc. (WCC) : Free Stock Analysis Report
