WESCO International slumps on downbeat earnings forecast

WESCO International

03/08/2023 17:15

** Shares of power distribution co WESCO International
 WCC.N  down 17.9%, to $147.47
    ** Co on Thursday forecast full-year profit below estimates
    ** WCC estimates FY23 profit of $15 to $16 per share, versus
analysts' estimate of $17.34 - Refinitiv
    ** Q2 adjusted profit was $3.41 per share, below analysts'
average estimate of $4.49 - Refinitiv
    ** Nine of 11 brokerages rate the stock "buy" or higher and
two "hold; their median PT is $210
    ** Including sessions move, shares up 17.7% YTD

 (Reporting by Pritam Biswas in Bengaluru)
 ((Pritam.Biswas@thomsonreuters.com))