Watsco, Inc. Expected to Post Q3 2017 Earnings of $1.99 Per Share (NYSE:WSO)
Watsco, Inc. (NYSE:WSO) – Research analysts at KeyCorp issued their Q3 2017 earnings per share (EPS) estimates for shares of Watsco in a research note issued on Tuesday. KeyCorp analyst J. Hammond forecasts that the construction company will earn $1.99 per share for the quarter. KeyCorp also issued estimates for Watsco’s Q4 2017 earnings at $0.99 EPS.
Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, July 25th. The construction company reported $2.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.05. Watsco had a return on equity of 14.52% and a net margin of 4.29%. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the firm posted $1.82 EPS. Watsco’s revenue was up 5.1% compared to the same quarter last year.
Several other research analysts have also weighed in on the stock. Morgan Stanley restated an “underweight” rating and set a $141.00 target price (up from $139.00) on shares of Watsco in a research report on Wednesday. BidaskClub lowered shares of Watsco from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Wolfe Research began coverage on shares of Watsco in a research report on Tuesday, July 11th. They set a “market perform” rating on the stock. Zacks Investment Research upgraded shares of Watsco from a “hold” rating to a “buy” rating and set a $173.00 target price on the stock in a research report on Tuesday, June 27th. Finally, Stifel Nicolaus restated a “buy” rating and set a $176.00 target price (up from $163.00) on shares of Watsco in a research report on Friday, June 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $164.00.
Shares of Watsco (NYSE WSO) opened at 147.72 on Friday. The firm has a market capitalization of $4.82 billion, a PE ratio of 28.69 and a beta of 0.84. The company has a 50-day moving average price of $151.58 and a 200 day moving average price of $146.95. Watsco has a 12-month low of $128.60 and a 12-month high of $159.55.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Monday, July 17th will be given a $1.25 dividend. 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 annualized dividend and a dividend yield of 3.32%. Watsco’s dividend payout ratio is currently 93.11%.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Watsco by 5,677.9% in the first quarter. BlackRock Inc. now owns 2,656,561 shares of the construction company’s stock valued at $380,367,000 after buying an additional 2,610,583 shares in the last quarter. Thomaspartners Inc. acquired a new stake in Watsco during the first quarter valued at approximately $80,907,000. Vanguard Group Inc. raised its stake in Watsco by 26.7% in the first quarter. Vanguard Group Inc. now owns 2,454,099 shares of the construction company’s stock valued at $351,379,000 after buying an additional 517,615 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Watsco by 110.4% in the first quarter. Ameriprise Financial Inc. now owns 566,005 shares of the construction company’s stock valued at $80,991,000 after buying an additional 296,959 shares in the last quarter. Finally, GW&K Investment Management LLC acquired a new stake in Watsco during the second quarter valued at approximately $31,782,000. Institutional investors and hedge funds own 80.71% of the company’s stock.
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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