$1.99 Earnings Per Share Expected for Watsco, Inc. (WSO) This Quarter
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.
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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.
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