WESCO International, Inc. (WCC) Is At $60.30 Formed Wedge; Shorts at Comp EN DE MN Cemig Ads American Depositary Shares (CIG) Raised By 63.15%

Companhia Energética de Minas Gerais S.A. (NYSE:CIG) Logo

WESCO International, Inc. (WCC) formed wedge down with $56.68 target or 6.00% below today’s $60.30 share price. WESCO International, Inc. (WCC) has $2.84B valuation. The stock increased 1.77% or $1.05 during the last trading session, reaching $60.3. About 282,754 shares traded. WESCO International, Inc. (NYSE:WCC) has declined 3.99% since May 31, 2017 and is downtrending. It has underperformed by 16.56% the S&P500.

Comp EN DE MN Cemig Ads American Depositary Shares (NYSE:CIG) had an increase of 63.15% in short interest. CIG’s SI was 7.11M shares in May as released by FINRA. Its up 63.15% from 4.36M shares previously. With 3.09M avg volume, 2 days are for Comp EN DE MN Cemig Ads American Depositary Shares (NYSE:CIG)’s short sellers to cover CIG’s short positions. The SI to Comp EN DE MN Cemig Ads American Depositary Shares’s float is 0.75%. The stock increased 3.55% or $0.07 during the last trading session, reaching $2.04. About 12.12M shares traded or 248.15% up from the average. Companhia Energética de Minas Gerais S.A. (NYSE:CIG) has declined 6.46% since May 31, 2017 and is downtrending. It has underperformed by 19.03% the S&P500.

Among 2 analysts covering Cia Energetica de Minas Gerais (NYSE:CIG), 0 have Buy rating, 1 Sell and 1 Hold. Therefore 0 are positive. Cia Energetica de Minas Gerais had 4 analyst reports since April 26, 2017 according to SRatingsIntel. On Wednesday, April 26 the stock rating was downgraded by JP Morgan to “Neutral”. The stock has “Neutral” rating by JP Morgan on Wednesday, April 4. On Monday, November 27 the stock rating was upgraded by JP Morgan to “Overweight”. The stock of Companhia Energética de Minas Gerais S.A. (NYSE:CIG) earned “Sell” rating by Goldman Sachs on Friday, July 14.

Companhia Energética de Minas Gerais, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Brazil. The company has market cap of $2.70 billion. The firm generates electricity through renewable energy sources, such as water, wind, sun, and biomass; or non-renewable sources, including fossil and nuclear fuels. It has a 10 P/E ratio. As of December 31, 2016, it operated hydroelectric plants, thermoelectric plants, and solar plants with a total installed capacity of approximately 8,000 megawatts in 10 states of Brazil.

Investors sentiment decreased to 0.95 in Q1 2018. Its down 0.32, from 1.27 in 2017Q4. It dived, as 21 investors sold WESCO International, Inc. shares while 78 reduced holdings. 32 funds opened positions while 62 raised stakes. 45.18 million shares or 3.47% less from 46.81 million shares in 2017Q4 were reported. Massachusetts Services Co Ma owns 475,422 shares. Tiaa Cref Invest Mgmt Limited holds 624,783 shares or 0.03% of its portfolio. Sei Invs Company has 0.01% invested in WESCO International, Inc. (NYSE:WCC). Wellington Mngmt Gp Ltd Liability Partnership stated it has 591,918 shares or 0.01% of all its holdings. Monarch Prtn Asset Management Limited Com has 1.39% invested in WESCO International, Inc. (NYSE:WCC). Tci Wealth Advisors Incorporated, a Arizona-based fund reported 13 shares. Employees Retirement Systems Of Ohio owns 144,030 shares or 0.05% of their US portfolio. Manufacturers Life Ins The invested in 0.01% or 134,496 shares. Tocqueville Asset Management Lp owns 0.15% invested in WESCO International, Inc. (NYSE:WCC) for 192,300 shares. State Of Alaska Department Of Revenue accumulated 3,690 shares. Geode Mngmt Limited Liability owns 400,863 shares. Bronson Point Management Limited Co stated it has 70,000 shares. Bluecrest Mngmt owns 4,765 shares. Employees Retirement Sys Of Texas owns 28,000 shares. Macquarie Grp holds 500,072 shares or 0.06% of its portfolio.

Analysts await WESCO International, Inc. (NYSE:WCC) to report earnings on July, 26. They expect $1.22 EPS, up 19.61% or $0.20 from last year’s $1.02 per share. WCC’s profit will be $57.44 million for 12.36 P/E if the $1.22 EPS becomes a reality. After $0.93 actual EPS reported by WESCO International, Inc. for the previous quarter, Wall Street now forecasts 31.18% EPS growth.

WESCO International, Inc. (NYSE:WCC) Institutional Positions Chart