Longbow Research Upgrades Watsco Inc. (WSO) to “Buy”
Watsco Inc. (NYSE:WSO) was upgraded by Longbow Research from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, The Fly reports.
A number of other equities analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Watsco from a “sell” rating to a “hold” rating in a report on Monday, September 12th. JPMorgan Chase & Co. decreased their price objective on shares of Watsco from $131.00 to $128.00 and set a “neutral” rating for the company in a report on Wednesday, July 27th. Stifel Nicolaus decreased their price objective on shares of Watsco from $154.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 25th. Barclays PLC set a $113.00 price objective on shares of Watsco and gave the stock a “sell” rating in a report on Monday, July 25th. Finally, Seaport Global Securities lowered shares of Watsco from an “accumulate” rating to a “neutral” rating and set a $150.00 price objective for the company. in a report on Monday, July 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $138.50.
Watsco (NYSE:WSO) opened at 139.35 on Friday. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 28.24 and a beta of 0.94. The stock has a 50 day moving average price of $143.50 and a 200-day moving average price of $138.82. Watsco has a 12-month low of $106.58 and a 12-month high of $149.99.
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Watsco (NYSE:WSO) last released its earnings results on Friday, July 22nd. The company reported $1.82 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.04 by $0.22. Watsco had a net margin of 4.05% and a return on equity of 13.65%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the business posted $1.85 earnings per share. Watsco’s revenue for the quarter was down .7% on a year-over-year basis. Equities analysts predict that Watsco will post $5.31 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Monday, October 17th will be given a dividend of $1.05 per share. This is an increase from Watsco’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.01%. Watsco’s payout ratio is presently 69.11%.
Large investors have recently modified their holdings of the stock. Donaldson Capital Management LLC increased its stake in shares of Watsco by 14.1% in the first quarter. Donaldson Capital Management LLC now owns 15,817 shares of the company’s stock worth $2,131,000 after buying an additional 1,951 shares during the last quarter. BB&T Securities LLC increased its stake in shares of Watsco by 3.2% in the first quarter. BB&T Securities LLC now owns 16,700 shares of the company’s stock worth $2,250,000 after buying an additional 510 shares during the last quarter. 1832 Asset Management L.P. acquired a new stake in shares of Watsco during the first quarter worth about $787,000. Royce & Associates LP acquired a new stake in shares of Watsco during the first quarter worth about $862,000. Finally, Advisor Partners LLC acquired a new stake in shares of Watsco during the first quarter worth about $204,000. 67.33% of the stock is owned by hedge funds and other institutional investors.
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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