$1.28 Billion in Sales Expected for Watsco, Inc. (WSO) This Quarter
Wall Street analysts expect Watsco, Inc. (NYSE:WSO) to report $1.28 billion in sales for the current quarter, Zacks reports. Six analysts have issued estimates for Watsco’s earnings, with the lowest sales estimate coming in at $1.26 billion and the highest estimate coming in at $1.28 billion. Watsco posted sales of $1.24 billion in the same quarter last year, which would indicate a positive year over year growth rate of 3.2%. The business is scheduled to report its next quarterly earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that Watsco will report full year sales of $1.28 billion for the current fiscal year, with estimates ranging from $4.37 billion to $4.40 billion. For the next financial year, analysts anticipate that the business will report sales of $4.58 billion per share, with estimates ranging from $4.53 billion to $4.62 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Watsco.
Watsco (NYSE:WSO) last announced its quarterly earnings data on Tuesday, July 25th. The construction company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.29 billion. During the same quarter last year, the business posted $1.82 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis.
WSO has been the subject of a number of research analyst reports. BidaskClub downgraded shares of Watsco from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Stifel Nicolaus reiterated a “buy” rating and set a $176.00 target price (up previously from $163.00) on shares of Watsco in a report on Friday, June 23rd. Zacks Investment Research cut Watsco from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Morgan Stanley reiterated an “underweight” rating and set a $141.00 target price (up previously from $139.00) on shares of Watsco in a report on Wednesday, July 26th. Finally, Wolfe Research started coverage on Watsco in a report on Tuesday, July 11th. They set a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $163.20.
Several hedge funds have recently modified their holdings of the company. 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 purchased a new stake in shares of Watsco during the second quarter worth about $125,000. Creative Planning boosted its stake in shares of Watsco by 1.5% in the first quarter. Creative Planning now owns 979 shares of the construction company’s stock worth $140,000 after buying an additional 14 shares during the last quarter. 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 and hedge funds own 79.58% of the company’s stock.
Shares of Watsco (NYSE:WSO) traded up 0.20% during midday trading on Friday, reaching $143.54. 30,726 shares of the company were exchanged. The firm has a 50-day moving average of $149.85 and a 200 day moving average of $146.59. Watsco has a 52 week low of $128.60 and a 52 week high of $159.55. The firm has a market capitalization of $4.69 billion, a P/E ratio of 26.54 and a beta of 0.83.
The company also recently announced a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Monday, July 17th were issued a dividend of $1.25 per share. The ex-dividend date was Thursday, July 13th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.49%. This is a boost from Watsco’s previous quarterly dividend of $1.05. Watsco’s payout ratio is presently 93.11%.
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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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