WESCO International, Inc. ($WCC) Stock Forecast: Up 5.3% Today

What is WESCO International, Inc.?

WESCO International, Inc. (NYSE: WCC) is a leading provider of electrical, industrial, and communications maintenance, repair, and operating (MRO) and original equipment manufacturers (OEM) products, construction materials, and advanced supply chain management and logistic services.

Why is WESCO International, Inc. going up?

WCC stock is up 5.3% on Jul 16, 2024 18:13

• The strong bullish movement in WESCO Intl's stock today can be attributed to its consistent outperformance in the market over the past 5 years, with an impressive average annual return of 28.13%.
• The recent increase in short interest for WCC may have triggered a short squeeze, leading to a surge in buying pressure and subsequently driving the stock price higher.
• Investors seem to be optimistic about WESCO Intl's future prospects, considering its solid market capitalization of $8.65 billion and the potential for further growth in its core business segments.

WCC Price Chart

WCC News

Here's How Much You Would Have Made Owning WESCO Intl Stock In The Last 5 Years - WESCO Intl ( NYSE:WCC )

WESCO Intl WCC has outperformed the market over the past 5 years by 14.75% on an annualized basis producing an average annual return of 28.13%. Currently, WESCO Intl has a market capitalization of $8.65 billion.

https://www.benzinga.com/insights/news/24/07/39752140/heres-how-much-you-would-have-made-owning-wesco-intl-stock-in-the-last-5-years

Looking Into WESCO Intl's Recent Short Interest - WESCO Intl ( NYSE:WCC )

WESCO Intl's WCC short percent of float has risen 9.7% since its last report. The company recently reported that it has 2.07 million shares sold short, which is 4.75% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.66 days to cover their ...

https://www.benzinga.com/insights/short-sellers/24/07/39714300/looking-into-wesco-intls-recent-short-interest

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WESCO International, Inc. Price History

13.01.2024 - WCC Stock was down 26.4%

• Lower-than-expected earnings and revenue for the fourth quarter of 2023 may have contributed to the bearish market movement.
• The company faced headwinds in Q4 but maintained positive full-year sales growth, indicating potential challenges in the short term.
• The financial review and update by Wesco International's executive management could have influenced investor sentiment and contributed to the bearish market movement.
• Overall, the disappointing Q4 results and potential concerns about the company's performance may have led to the bearish movement in WCC's stock today.

03.10.2023 - WCC Stock was up 7.0%

• The bullish movement in WCC's stock today can be attributed to positive news and strong financial performance. The company's Q3 earnings beat estimates, despite a decrease from last year. Additionally, Wesco International issued an outlook update for 2023, raising its earnings per share expectations. These factors likely contributed to investor confidence and drove the stock price higher.

29.04.2024 - WCC Stock was down 6.2%

• Investor profit-taking following a period of optimism may have driven the decline in WCC stock.
• The introduction of a scholarship program by Wesco International suggests a rise in expenditure and commitment to backing future tradespeople, potentially impacting short-term profitability.
• Analyst downgrades in other industry players, such as American Airlines, might have influenced market sentiment and contributed to the downward movement in WCC stock.
• In summary, factors like profit-taking, increased investment in social programs, and industry-wide analyst downgrades likely influenced the bearish market trend for Wesco International.

13.01.2024 - WCC Stock was down 20.3%

• WCC experienced a strong bearish movement today.
• The company's Q4 earnings and revenue missed estimates, indicating potential challenges ahead.
• Certain sectors showed growth, while others underperformed.
• The company's 2024 outlook suggests modest sales growth and a slight decline in adjusted EBITDA margin.

14.01.2024 - WCC Stock was down 30.6%

• The company reported lower earnings and revenue for the fourth quarter, missing estimates. This negative financial performance likely contributed to the bearish movement in the stock.
• The company faced headwinds in Q4, but maintained positive full-year sales growth. Despite this positive aspect, investors may have been disappointed by the weaker quarterly results.
• The market reaction suggests that investors are concerned about the future prospects of Wesco International, as the stock experienced a significant decline.
• The mention of Wesco International as one of the industrial movers may have contributed to the negative sentiment surrounding the stock, as it highlighted the bearish movement.

14.01.2024 - WCC Stock was up 6.1%

• Despite WESCO International's Q4 earnings lagging estimates and revenues dipping year-over-year, the stock had a strong bullish movement.
• The negative earnings surprise and revenue miss may have been already priced in by the market, leading to a positive market reaction.
• The lack of available information on the earnings call and industrial movers suggests that there may not have been significant negative news impacting the stock.
• The stock's bullish movement could be attributed to investors focusing on other factors such as future growth prospects or positive market sentiment.

15.01.2024 - WCC Stock was up 7.1%

• Q4 earnings for WCC fell short of expectations and revenues declined compared to the previous year, indicating slow growth in specific areas.
• Following the disappointing quarter, RBC downgraded the stock, which had a negative impact on its performance.
• Despite the negative developments, WCC managed to surpass revenue expectations, providing a ray of hope for the future.
• The overall market movement can be attributed to investors recognizing the value in WCC despite the challenges faced during the recent quarter.

14.01.2024 - WCC Stock was down 30.6%

• WCC reported lower earnings and revenue for the quarter ended December 2023, missing estimates. This negative financial performance likely contributed to the bearish movement.
• The Q4 headwinds faced by WCC may have also played a role in the market decline, despite maintaining positive full-year sales growth.
• The negative surprises in earnings and revenue may have raised concerns about the company's future prospects, leading investors to sell off the stock.
• The lack of available information suggests that there may not be any significant positive news or catalysts to counterbalance the negative factors affecting WCC's performance.

15.01.2024 - WCC Stock was up 7.1%

• WESCO International (WCC) stock experienced a strong bullish movement today.
• A downgrade to a hold rating could have initially caused some concern among investors.
• However, the Q4 earnings report displayed sluggishness in certain segments, which may have been overshadowed by other positive factors leading to the bullish movement.
• The absence of available summaries for the remaining information suggests those articles did not have a significant impact on the market movement.

29.04.2024 - WCC Stock was down 5.4%

• The bearish movement in WCC stock today could be attributed to:
• Investors potentially reacting negatively to the scholarship program, as it might indicate increased spending or a shift in company focus.
• Market participants might be concerned about the impact of supporting tradespeople on Wesco International's bottom line in the short term.
• The market may be interpreting the scholarship program as a deviation from the company's core business strategy, leading to a sell-off of WCC shares.

11.06.2024 - WCC Stock was up 5.6%

• Short interest as a percentage of float for WCC has increased by 9.7% since the last data release.
• The number of shares sold short for WCC amounts to 2.07 million, representing 4.75% of the total regular trading shares.
• The rise in short interest potentially triggered a short squeeze, prompting a spike in the stock price as traders scrambled to close their positions.
• Today, the bullish movement in WCC may be attributed to short sellers being compelled to repurchase shares, leading to heightened demand and an upward push in the stock price.

16.06.2024 - WCC Stock was up 5.3%

• The strong bullish movement in WESCO Intl's stock today can be attributed to its consistent outperformance in the market over the past 5 years, with an impressive average annual return of 28.13%.
• The recent increase in short interest for WCC may have triggered a short squeeze, leading to a surge in buying pressure and subsequently driving the stock price higher.
• Investors seem to be optimistic about WESCO Intl's future prospects, considering its solid market capitalization of $8.65 billion and the potential for further growth in its core business segments.