WESCO International, Inc. Buyback
OLI recorded this information on 12/17/2014
Company:
WESCO International, Inc.
Buyback:
WCC buyback
$Amount Authorized:
$300,000,000
Buyback Details:
Ken Parks, WESCO's Senior Vice President and Chief Financial Officer stated, "The new share repurchase authorization of up to $300 million over the next three years demonstrates confidence in our long-term growth outlook and a commitment to delivering value to shareholders through disciplined cash utilization. The strength and size of our free cash flow generation provide us with the flexibility to grow organically, make accretive acquisitions, and repurchase shares of common stock while maintaining leverage within our target levels."
WESCO International is a provider of business-to-business distribution, logistics services and supply chain solutions. Co.'s segments are: Electrical and Electronic Solutions, which supplies a range of products and solutions primarily to the construction, industrial and original equipment manufacturer markets; Communications and Security Solutions, which is engaged in the network infrastructure and security markets; and Utility and Broadband Solutions, which provides products and services to investor-owned utilities, public power companies, including municipalities, as well as global service providers, wireless providers, broadband operators and the contractors that service these customers.
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Preferred: WCC.PRA
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Avg. Broker Rec.
 
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Strong Buy (3.78 out of 4) 70th percentile
(ranked higher than approx. 70% of all stocks covered)
Analysts' Target Price: WCC Stock Forecast Based on Zacks ABR data; powered by Xignite |
