Q2 2017 EPS Estimates for Watsco, Inc. Decreased by Analyst (NYSE:WSO)
Watsco, Inc. (NYSE:WSO) – Equities research analysts at William Blair dropped their Q2 2017 earnings per share (EPS) estimates for shares of Watsco in a research report issued on Monday. William Blair analyst R. Merkel now expects that the construction company will earn $1.94 per share for the quarter, down from their prior estimate of $2.05. William Blair also issued estimates for Watsco’s Q4 2017 earnings at $0.92 EPS and FY2017 earnings at $5.50 EPS.
Watsco (NYSE:WSO) last announced its earnings results on Tuesday, April 25th. The construction company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.80 by $0.13. The business had revenue of $872.10 million for the quarter, compared to analyst estimates of $877.45 million. Watsco had a net margin of 4.13% and a return on equity of 13.81%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 earnings per share.
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A number of other research analysts have also commented on the stock. BidaskClub lowered shares of Watsco from a “buy” rating to a “hold” rating in a research report on Sunday. Wolfe Research started coverage on shares of Watsco in a research note on Tuesday, July 11th. They issued a “market perform” rating on the stock. Zacks Investment Research raised shares of Watsco from a “hold” rating to a “buy” rating and set a $173.00 target price on the stock in a research note on Tuesday, June 27th. Stifel Nicolaus reissued a “buy” rating and issued a $176.00 target price (up previously from $163.00) on shares of Watsco in a research note on Friday, June 23rd. Finally, Seaport Global Securities raised shares of Watsco from a “neutral” rating to a “buy” rating and upped their target price for the company from $145.00 to $160.00 in a research note on Wednesday, April 26th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $153.14.
Shares of Watsco (NYSE:WSO) opened at 152.00 on Thursday. The firm has a market capitalization of $4.96 billion, a P/E ratio of 29.52 and a beta of 0.84. The stock’s 50 day moving average price is $150.34 and its 200 day moving average price is $146.87. Watsco has a 52 week low of $128.60 and a 52 week high of $159.55.
Hedge funds have recently modified their holdings of the company. Bank of Nova Scotia purchased a new stake in shares of Watsco during the first quarter valued at $450,000. Flinton Capital Management LLC boosted its stake in shares of Watsco by 9.1% in the first quarter. Flinton Capital Management LLC now owns 768 shares of the construction company’s stock valued at $110,000 after buying an additional 64 shares in the last quarter. Winslow Evans & Crocker Inc. boosted its stake in shares of Watsco by 300.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 800 shares of the construction company’s stock valued at $123,000 after buying an additional 600 shares in the last quarter. Creative Planning boosted its stake in shares of Watsco by 1.5% in the first quarter. Creative Planning now owns 979 shares of the construction company’s stock valued at $140,000 after buying an additional 14 shares in the last quarter. Finally, Meadow Creek Investment Management LLC boosted its stake in shares of Watsco by 9.1% in the first quarter. Meadow Creek Investment Management LLC now owns 1,056 shares of the construction company’s stock valued at $151,000 after buying an additional 88 shares in the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Monday, July 17th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 3.29%. This is a boost from Watsco’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Thursday, July 13th. Watsco’s dividend payout ratio is currently 97.66%.
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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