Yahoo Finance Wesco International (WCC) Dips More Than Broader Markets: What You Should Know
Wesco International (WCC) closed at $141.94 in the latest trading session, marking a -1.02% move from the prior day. This change lagged the S&P 500's daily loss of 0.01%. Meanwhile, the Dow lost 0.23%, and the Nasdaq, a tech-heavy index, added 0.97%.
Coming into today, shares of the maker of electrical and industrial maintenance supplies and construction materials had lost 2.82% in the past month. In that same time, the Computer and Technology sector gained 4.02%, while the S&P 500 gained 6.23%.
Wesco International will be looking to display strength as it nears its next earnings release, which is expected to be May 4, 2023. On that day, Wesco International is projected to report earnings of $3.57 per share, which would represent a year-over-year decline of 1.65%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.4 billion, up 9.55% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $17.54 per share and revenue of $22.93 billion, which would represent changes of +6.82% and +7.04%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Wesco International. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.08% higher. Wesco International is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Wesco International has a Forward P/E ratio of 8.17 right now. Its industry sports an average Forward P/E of 7.81, so we one might conclude that Wesco International is trading at a premium comparatively.
Meanwhile, WCC's PEG ratio is currently 0.82. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Electronics - Parts Distribution stocks are, on average, holding a PEG ratio of 0.82 based on yesterday's closing prices.
The Electronics - Parts Distribution industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 190, putting it in the bottom 25% 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.
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WESCO International, Inc. (WCC) : Free Stock Analysis Report
