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.

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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.

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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