Watsco, Inc. (NYSE:WSO) to Post Q3 2017 Earnings of $1.89 Per Share, William Blair Forecasts
Watsco, Inc. (NYSE:WSO) – Equities research analysts at William Blair decreased their Q3 2017 EPS estimates for shares of Watsco in a research note issued on Tuesday. William Blair analyst R. Merkel now forecasts that the construction company will post earnings per share of $1.89 for the quarter, down from their prior forecast of $1.93.
A number of other analysts have also commented on WSO. Zacks Investment Research lowered Watsco from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Seaport Global Securities raised Watsco from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $160.00 in a report on Wednesday, April 26th. Stifel Nicolaus lifted their target price on Watsco from $152.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. BidaskClub raised Watsco from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Finally, Wolfe Research initiated coverage on Watsco in a report on Tuesday, July 11th. They issued a “market perform” rating for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. Watsco has a consensus rating of “Hold” and a consensus price target of $159.83.
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Watsco (NYSE:WSO) opened at 149.98 on Wednesday. Watsco has a 52-week low of $128.60 and a 52-week high of $159.55. The firm has a 50-day moving average price of $150.65 and a 200 day moving average price of $146.90. The stock has a market cap of $4.90 billion, a PE ratio of 29.13 and a beta of 0.84.
Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, July 25th. The construction company reported $2.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.04 by $0.03. Watsco had a return on equity of 13.81% and a net margin of 4.13%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the firm earned $1.82 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis.
Institutional investors have recently added to or reduced their stakes in the company. UBS Group AG increased its position in Watsco by 67.0% in the first quarter. UBS Group AG now owns 32,815 shares of the construction company’s stock worth $4,698,000 after buying an additional 13,165 shares during the period. Private Trust Co. NA purchased a new position in Watsco during the first quarter worth about $463,000. Point72 Asset Management L.P. purchased a new position in Watsco during the first quarter worth about $10,796,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Watsco by 41.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,174 shares of the construction company’s stock worth $168,000 after buying an additional 343 shares during the period. Finally, William Blair Investment Management LLC increased its position in Watsco by 13.9% in the first quarter. William Blair Investment Management LLC now owns 241,082 shares of the construction company’s stock worth $34,518,000 after buying an additional 29,423 shares during the period. Hedge funds and other institutional investors own 80.71% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Monday, July 17th will be paid a $1.25 dividend. This is an increase from Watsco’s previous quarterly dividend of $1.05. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Thursday, July 13th. Watsco’s dividend payout ratio (DPR) is 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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