Rollins plunges after Q2 revenue, profit miss
BUZZ-Rollins plunges after Q2 revenue, profit miss ** Shares of pest control firm Rollins ROL.N down 17% at $35.95 premarket
** Co misses Q2 revenue and profit estimates on Wednesday, hurt by weak consumer spending on pest control services amid macroeconomic uncertainty
** ROL reports quarterly revenue of $1.08 billion vs estimates of $1.09 billion and adjusted EPS of 32 cents, missing estimates of 34 cents - LSEG
** "While we are admittedly disappointed by what is now three consecutive quarters of weaker-than-expected organic growth, we believe expectations were already muted heading into the quarter given the stock's YTD performance and valuation relative to historical levels," Jefferies says
** Brokerage RBC cuts co's rating to "sector perform" from "outperform"; cuts TP to $40 from $52 post results
** As of last close, stock down ~28% YTD
(Reporting by Sanskriti Shekhar in Bengaluru)
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