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.

Earnings History and Estimates for Watsco (NYSE:WSO)

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