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Can WESCO International (WCC) Run Higher on Strong Earnings Estimate Revisions?

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WESCO International, Inc. (WCC - Free Report) is a leading provider of business-to-business distribution, logistics services and supply chain management solutions provider that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on WCC’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that WESCO International could be a solid choice for investors.

Current Quarter Estimates for WCC

In the past 30 days, four estimates have gone higher for WESCO International while one has gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 90 cents a share 30 days ago, to $1.15 per share today, a move of 27.7%.

Current Year Estimates for WCC

Meanwhile, WESCO International’s current year figures are also looking quite promising, with five estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $3.43 per share 30 days ago to $4.48 per share today, an increase of 30.6%.

Bottom Line

The stock has also started to move higher lately, adding 10% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

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