WCC - Wesco Stock Plunged This Week. Is the Drop a Buying Opportunity?
2024-02-15 15:17:02 ET
Wesco International (NYSE: WCC) delivered ugly year-end results and disappointing guidance about 2024 this week, causing investors to head for the exits.
With the stock down 23% for the week as of Thursday afternoon, according to data provided by S&P Global Market Intelligence , it might be time for long-term-focused holders to take a fresh look at this electrical equipment distributor.
Wesco is a well-regarded industrials stock, but its year-end results left a lot to be desired. The company earned $2.65 per share in the fourth quarter on sales of $5.47 billion, well short of the $3.87 per share on sales of $5.59 billion that Wall Street had expected.
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Wesco Stock Plunged This Week. Is the Drop a Buying Opportunity?