Wall Street brokerages forecast that Watsco, Inc. (NYSE:WSO) will report $1.93 earnings per share for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Watsco’s earnings, with the highest EPS estimate coming in at $2.03 and the lowest estimate coming in at $1.82. Watsco posted earnings of $1.78 per share in the same quarter last year, which would suggest a positive year over year growth rate of 8.4%. The company is scheduled to report its next quarterly earnings results before the market opens on Wednesday, October 25th.
On average, analysts expect that Watsco will report full year earnings of $5.69 per share for the current financial year, with EPS estimates ranging from $5.48 to $5.81. For the next financial year, analysts forecast that the firm will report earnings of $6.41 per share, with EPS estimates ranging from $6.22 to $6.65. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Watsco.
Watsco (NYSE:WSO) last posted its quarterly earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.05. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Watsco had a return on equity of 14.52% and a net margin of 4.29%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.82 earnings per share.
A number of brokerages recently weighed in on WSO. Zacks Investment Research upgraded Watsco from a “hold” rating to a “buy” rating and set a $169.00 price objective on the stock in a research report on Tuesday, August 1st. BidaskClub upgraded Watsco from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. Morgan Stanley boosted their price objective on Watsco from $141.00 to $151.00 and gave the stock an “underweight” rating in a research report on Monday, September 25th. Wolfe Research began coverage on Watsco in a research report on Tuesday, July 11th. They set a “market perform” rating on the stock. Finally, Stifel Nicolaus restated a “buy” rating and set a $176.00 price objective (up previously from $163.00) on shares of Watsco in a research report on Friday, June 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $159.40.
Watsco (NYSE:WSO) opened at 159.84 on Wednesday. The company has a market cap of $5.22 billion, a PE ratio of 29.56 and a beta of 0.84. The company has a 50-day moving average price of $155.52 and a 200 day moving average price of $148.01. Watsco has a 12-month low of $128.60 and a 12-month high of $163.95.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Monday, October 16th will be given a $1.25 dividend. 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 3.13%. Watsco’s dividend payout ratio (DPR) is presently 93.11%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Eqis Capital Management Inc. grew its position in shares of Watsco by 5.2% in the 3rd quarter. Eqis Capital Management Inc. now owns 11,993 shares of the construction company’s stock valued at $1,932,000 after buying an additional 593 shares during the last quarter. Bath Savings Trust Co grew its position in shares of Watsco by 24.2% in the 3rd quarter. Bath Savings Trust Co now owns 25,421 shares of the construction company’s stock valued at $4,094,000 after buying an additional 4,952 shares during the last quarter. Lord Abbett & CO. LLC grew its position in shares of Watsco by 13.6% in the 2nd quarter. Lord Abbett & CO. LLC now owns 129,200 shares of the construction company’s stock valued at $19,923,000 after buying an additional 15,500 shares during the last quarter. Navellier & Associates Inc grew its position in shares of Watsco by 30.7% in the 2nd quarter. Navellier & Associates Inc now owns 14,524 shares of the construction company’s stock valued at $2,240,000 after buying an additional 3,410 shares during the last quarter. Finally, Cetera Investment Advisers bought a new stake in shares of Watsco in the 2nd quarter valued at about $1,094,000. Hedge funds and other institutional investors own 81.63% 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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