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%.

About Watsco

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.

Earnings History and Estimates for Watsco (NYSE:WSO)

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