Watsco, Inc. (WSO) Expected to Post FY2017 Earnings of $5.48 Per Share
Watsco, Inc. (NYSE:WSO) – Investment analysts at William Blair dropped their FY2017 earnings estimates for Watsco in a report released on Monday. William Blair analyst R. Merkel now forecasts that the construction company will post earnings of $5.48 per share for the year, down from their prior forecast of $5.55.
WSO has been the subject of a number of other reports. Zacks Investment Research upgraded Watsco from a “hold” rating to a “buy” rating and set a $169.00 target price for the company in a research report on Tuesday, August 1st. Morgan Stanley upped their target price on Watsco from $141.00 to $151.00 and gave the company an “underweight” rating in a research report on Monday, September 25th. Stifel Nicolaus reiterated a “buy” rating and set a $154.00 target price on shares of Watsco in a research report on Thursday, September 7th. BidaskClub upgraded Watsco from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Finally, Wolfe Research began coverage on Watsco in a research report on Tuesday, July 11th. They set a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $161.17.
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Watsco (WSO) opened at 163.32 on Wednesday. Watsco has a 1-year low of $128.60 and a 1-year high of $163.95. The firm’s 50-day moving average price is $152.06 and its 200 day moving average price is $147.17. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of 30.20 and a beta of 0.84.
Watsco (NYSE:WSO) last issued its earnings results on Tuesday, July 25th. The construction company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.05. Watsco had a return on equity of 14.52% and a net margin of 4.29%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the company posted $1.82 earnings per share. Watsco’s revenue was up 5.1% on a year-over-year basis.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Monday, October 16th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, October 13th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.06%. Watsco’s payout ratio is 93.11%.
Several large investors have recently added to or reduced their stakes in WSO. UBS Group AG raised its holdings in shares of Watsco by 67.0% during the 1st quarter. UBS Group AG now owns 32,815 shares of the construction company’s stock worth $4,698,000 after buying an additional 13,165 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Watsco by 16.1% during the 2nd quarter. Legal & General Group Plc now owns 30,746 shares of the construction company’s stock worth $4,741,000 after buying an additional 4,253 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Watsco by 0.8% during the 2nd quarter. Bank of Montreal Can now owns 2,867 shares of the construction company’s stock worth $442,000 after buying an additional 22 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Watsco during the 1st quarter worth $10,796,000. Finally, Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Watsco by 306.0% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 257,243 shares of the construction company’s stock worth $39,667,000 after buying an additional 193,889 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.
Watsco Company Profile
Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.
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