Q3 2016 Earnings Estimate for Watsco Inc. (WSO) Issued By KeyCorp
Watsco Inc. (NYSE:WSO) – Equities research analysts at KeyCorp raised their Q3 2016 earnings per share (EPS) estimates for Watsco in a report issued on Wednesday. KeyCorp analyst J. Hammond now forecasts that the firm will earn $1.96 per share for the quarter, up from their previous forecast of $1.86. KeyCorp also issued estimates for Watsco’s FY2016 earnings at $5.35 EPS.
Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus dropped their price target on shares of Watsco from $154.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, July 25th. Zacks Investment Research cut shares of Watsco from a “buy” rating to a “hold” rating in a research report on Monday, June 27th. Barclays PLC set a $113.00 price target on shares of Watsco and gave the company a “sell” rating in a research report on Monday, July 25th. Seaport Global Securities cut shares of Watsco from an “accumulate” rating to a “neutral” rating and set a $150.00 price target for the company. in a research report on Monday, July 25th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Watsco from $131.00 to $128.00 and set a “neutral” rating for the company in a research report on Wednesday, July 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $138.50.
Shares of Watsco (NYSE:WSO) opened at 144.32 on Monday. The company has a market capitalization of $4.70 billion, a P/E ratio of 29.24 and a beta of 0.94. The stock’s 50 day moving average is $144.05 and its 200 day moving average is $138.59. Watsco has a 52-week low of $106.58 and a 52-week high of $149.99.
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Watsco (NYSE:WSO) last posted its earnings results on Friday, July 22nd. The company reported $1.82 EPS for the quarter, missing the consensus estimate of $2.04 by $0.22. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.29 billion. Watsco had a return on equity of 13.65% and a net margin of 4.05%. The company’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.85 earnings per share.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Foundry Partners LLC boosted its position in shares of Watsco by 0.6% in the third quarter. Foundry Partners LLC now owns 1,660 shares of the company’s stock worth $234,000 after buying an additional 10 shares during the period. Washington Trust Bank boosted its position in shares of Watsco by 1.9% in the third quarter. Washington Trust Bank now owns 851 shares of the company’s stock worth $120,000 after buying an additional 16 shares during the period. Mason Street Advisors LLC acquired a new position in shares of Watsco during the second quarter worth about $1,655,000. Wolverine Asset Management LLC acquired a new position in shares of Watsco during the second quarter worth about $422,000. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Watsco by 40.7% in the second quarter. Public Employees Retirement System of Ohio now owns 47,787 shares of the company’s stock worth $6,723,000 after buying an additional 13,813 shares during the period. 67.33% of the stock is owned by institutional investors.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Monday, October 17th will be given a dividend of $1.05 per share. This is a boost from Watsco’s previous quarterly dividend of $0.85. This represents a $4.20 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Thursday, October 13th. Watsco’s dividend payout ratio (DPR) is 69.11%.
Watsco Company Profile
Watsco, Inc (Watsco) is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R). The Company operates in the HVAC/R distribution industry in North America. The Company operates at approximately 570 locations in over 40 United States’ states, Canada, Mexico and Puerto Rico.
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