Research Analysts Set Expectations for Watsco, Inc.’s FY2017 Earnings (NYSE:WSO)
Watsco, Inc. (NYSE:WSO) – Stock analysts at Seaport Global Securities upped their FY2017 earnings estimates for Watsco in a research report issued on Wednesday. Seaport Global Securities analyst W. Liptak now forecasts that the construction company will post earnings of $5.81 per share for the year, up from their prior forecast of $5.76. Seaport Global Securities has a “Buy” rating and a $160.00 price target on the stock. Seaport Global Securities also issued estimates for Watsco’s Q4 2017 earnings at $1.01 EPS, Q3 2018 earnings at $2.32 EPS, Q4 2018 earnings at $1.16 EPS and FY2018 earnings at $6.65 EPS.
Watsco (NYSE:WSO) last posted its earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.05. Watsco had a return on equity of 14.52% and a net margin of 4.29%. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the business earned $1.82 EPS. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. COPYRIGHT VIOLATION WARNING: “Research Analysts Set Expectations for Watsco, Inc.’s FY2017 Earnings (NYSE:WSO)” was reported by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another site, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this story can be read at https://www.americanbankingnews.com/2017/07/27/research-analysts-set-expectations-for-watsco-inc-s-fy2017-earnings-nysewso.html.
WSO has been the topic of a number of other reports. Zacks Investment Research lowered shares of Watsco from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Stifel Nicolaus reissued a “buy” rating and set a $176.00 price objective (up from $163.00) on shares of Watsco in a report on Friday, June 23rd. BidaskClub lowered shares of Watsco from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Wolfe Research initiated coverage on shares of Watsco in a report on Tuesday, July 11th. They set a “market perform” rating on the stock. Finally, Morgan Stanley reissued an “underweight” rating and set a $141.00 price objective (up from $139.00) on shares of Watsco in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. Watsco currently has a consensus rating of “Hold” and an average target price of $158.00.
Watsco (NYSE WSO) opened at 148.27 on Thursday. Watsco has a 12-month low of $128.60 and a 12-month high of $159.55. The stock has a market cap of $4.84 billion, a P/E ratio of 28.80 and a beta of 0.84. The firm’s 50 day moving average price is $151.32 and its 200-day moving average price is $146.92.
Several large investors have recently made changes to their positions in WSO. UBS Group AG raised its stake in shares of 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 acquired a new stake in Watsco during the first quarter valued at approximately $463,000. Point72 Asset Management L.P. acquired a new stake in Watsco during the first quarter valued at approximately $10,796,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Watsco by 41.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,174 shares of the construction company’s stock valued at $168,000 after buying an additional 343 shares during the last quarter. Finally, William Blair Investment Management LLC raised its stake 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 valued at $34,518,000 after buying an additional 29,423 shares during the last quarter. 80.71% of the stock is currently owned by hedge funds and other institutional investors.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Monday, July 17th will be issued a dividend of $1.25 per share. The ex-dividend date is Thursday, July 13th. This is a positive change from Watsco’s previous quarterly dividend of $1.05. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.37%. Watsco’s payout ratio is 93.11%.
Watsco Company Profile
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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