Wall Street analysts predict that Watsco, Inc. (NYSE:WSO) will report $1.99 earnings per share for the current quarter, Zacks reports. Six analysts have provided estimates for Watsco’s earnings, with the highest EPS estimate coming in at $2.07 and the lowest estimate coming in at $1.89. Watsco reported earnings per share of $1.78 in the same quarter last year, which would suggest a positive year over year growth rate of 11.8%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, October 24th.

On average, analysts expect that Watsco will report full year earnings of $5.74 per share for the current year, with EPS estimates ranging from $5.55 to $5.90. For the next financial year, analysts forecast that the business will report earnings of $6.38 per share, with EPS estimates ranging from $6.11 to $6.70. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Watsco.

Watsco (NYSE:WSO) last issued 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. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. Watsco had a net margin of 4.29% and a return on equity of 14.52%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the business posted $1.82 earnings per share.

A number of research analysts have weighed in on WSO shares. Stifel Nicolaus boosted their target price on shares of Watsco from $152.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Seaport Global Securities upgraded shares of Watsco from a “neutral” rating to a “buy” rating and boosted their target price for the company from $145.00 to $160.00 in a research note on Wednesday, April 26th. 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 note on Tuesday, June 27th. BidaskClub upgraded shares of Watsco from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Finally, Wolfe Research started coverage on shares of Watsco in a research note on Tuesday, July 11th. They issued a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $163.20.

TRADEMARK VIOLATION NOTICE: This piece of content was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this piece of content on another domain, it was illegally stolen and reposted in violation of United States and international copyright & trademark laws. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2017/08/23/1-99-earnings-per-share-expected-for-watsco-inc-wso-this-quarter.html.

Hedge funds have recently made changes to their positions in the stock. Bank of Nova Scotia acquired a new stake in shares of Watsco during the first quarter worth approximately $450,000. Flinton Capital Management LLC boosted its stake in shares of Watsco by 9.1% in the first quarter. Flinton Capital Management LLC now owns 768 shares of the construction company’s stock worth $110,000 after buying an additional 64 shares during the last quarter. Winslow Evans & Crocker Inc. boosted its stake in shares of Watsco by 300.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 800 shares of the construction company’s stock worth $123,000 after buying an additional 600 shares during the last quarter. San Francisco Sentry Investment Group CA acquired a new stake in shares of Watsco during the second quarter worth approximately $125,000. Finally, Public Employees Retirement Association of Colorado boosted its stake in shares of Watsco by 15.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 952 shares of the construction company’s stock worth $147,000 after buying an additional 129 shares during the last quarter. Institutional investors own 79.58% of the company’s stock.

Shares of Watsco (NYSE WSO) opened at 146.45 on Wednesday. The firm has a market capitalization of $4.79 billion, a P/E ratio of 27.08 and a beta of 0.83. Watsco has a 12 month low of $128.60 and a 12 month high of $159.55. The firm’s 50-day moving average is $150.61 and its 200 day moving average is $146.68.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Monday, July 17th were paid a dividend of $1.25 per share. This is a boost from Watsco’s previous quarterly dividend of $1.05. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.41%. 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.

Get a free copy of the Zacks research report on Watsco (WSO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Watsco (NYSE:WSO)

Receive News & Ratings for Watsco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Watsco Inc. and related companies with MarketBeat.com's FREE daily email newsletter.