Watsco Price Target Increased to $89.00 by Analysts at Barclays Capital (WSO)
Investment analysts at Barclays Capital lifted their price objective on shares of Watsco (NYSE:WSO) from $81.00 to $89.00 in a note issued to investors on Monday, StockRatingsNetwork reports. The firm currently has an “underweight” rating on the stock. Barclays Capital’s target price would suggest a potential downside of 5.84% from the company’s current price.
A number of other analysts have also recently weighed in on WSO. Analysts at Goldman Sachs Group Inc. initiated coverage on shares of Watsco in a research note to investors on Tuesday, October 1st. They set a “neutral” rating and a $98.00 price target on the stock. Separately, analysts at Robert W. Baird upgraded shares of Watsco from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, September 26th. They now have a $113.00 price target on the stock, up previously from $100.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Watsco in a research note to investors on Tuesday, September 17th. They now have a $96.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $94.44.
Watsco (NYSE:WSO) traded up 0.17% during mid-day trading on Monday, hitting $94.52. 421,516 shares of the company’s stock traded hands. Watsco has a one year low of $64.85 and a one year high of $97.61. The stock has a 50-day moving average of $91.64 and a 200-day moving average of $88.04. The company has a market cap of $3.042 billion and a P/E ratio of 29.92.
Watsco (NYSE:WSO) last issued its quarterly earnings data on Thursday, July 18th. The company reported $1.48 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.40 by $0.08. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the company posted $1.15 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, October 31st. Investors of record on Tuesday, October 15th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Thursday, October 10th. This is an increase from Watsco’s previous quarterly dividend of $0.25.
Watsco, Inc(NYSE:WSO) is the distributor of air conditioning, heating and refrigeration equipment and related parts and supplies (HVAC/R) in the HVAC/R distribution industry.
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