Watsco, Inc. (WSO) Given Consensus Recommendation of “Hold” by Brokerages
Watsco, Inc. (NYSE:WSO) has been assigned a consensus recommendation of “Hold” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $161.75.
A number of equities research analysts have weighed in on the stock. BidaskClub raised shares of Watsco from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research downgraded shares of Watsco from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Morgan Stanley reissued an “underweight” rating and issued a $141.00 price target (up from $139.00) on shares of Watsco in a report on Wednesday, July 26th. Wolfe Research assumed coverage on shares of Watsco in a report on Tuesday, July 11th. They issued a “market perform” rating for the company. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $176.00 price target (up from $163.00) on shares of Watsco in a report on Friday, June 23rd.
A number of hedge funds have recently bought and sold shares of the company. Bank of Nova Scotia bought a new stake in Watsco during the first quarter valued at about $450,000. Flinton Capital Management LLC increased its stake in 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 during the last quarter. Winslow Evans & Crocker Inc. increased its stake in 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 during the last quarter. Public Employees Retirement Association of Colorado increased its stake in Watsco by 15.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 952 shares of the construction company’s stock valued at $147,000 after buying an additional 129 shares during the last quarter. Finally, Creative Planning increased its stake in 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 during the last quarter. Hedge funds and other institutional investors own 81.16% of the company’s stock.
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Watsco (WSO) traded up 0.16% during trading on Tuesday, reaching $152.03. 110,129 shares of the company’s stock traded hands. Watsco has a 12 month low of $128.60 and a 12 month high of $159.55. The stock has a market capitalization of $4.97 billion, a P/E ratio of 28.11 and a beta of 0.83. The company has a 50-day moving average of $151.98 and a 200 day moving average of $146.98.
Watsco (NYSE:WSO) last issued its quarterly earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.05. Watsco had a net margin of 4.29% and a return on equity of 14.52%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the company earned $1.82 EPS. Watsco’s revenue was up 5.1% on a year-over-year basis. On average, equities research analysts expect that Watsco will post $5.78 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Monday, July 17th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 3.29%. This is an increase from Watsco’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Thursday, July 13th. Watsco’s dividend payout ratio is presently 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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