Brokerages expect Watsco, Inc. (NYSE:WSO) to report $1.28 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided 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 suggest a positive year over year growth rate of 3.2%. The company is scheduled to report its next quarterly earnings results on Tuesday, October 24th.

On average, analysts expect that Watsco will report full year sales of $1.28 billion for the current year, with estimates ranging from $4.37 billion to $4.40 billion. For the next year, analysts expect that the company will post sales of $4.58 billion per share, with estimates ranging from $4.53 billion to $4.62 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Watsco.

Watsco (NYSE:WSO) last posted its earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share (EPS) for the quarter, beating 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 firm 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 earned $1.82 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year.

Several research firms have commented on WSO. Robert W. Baird restated a “buy” rating and set a $163.00 price objective on shares of Watsco in a report on Friday, September 1st. BidaskClub downgraded Watsco from a “buy” rating to a “hold” rating in a report on Monday, August 14th. Zacks Investment Research downgraded Watsco from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Stifel Nicolaus restated a “buy” rating and set a $176.00 price objective (up from $163.00) on shares of Watsco in a report on Friday, June 23rd. Finally, Morgan Stanley restated an “underweight” rating and set a $141.00 price objective (up from $139.00) on shares of Watsco in a report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. Watsco presently has an average rating of “Hold” and a consensus price target of $159.50.

Watsco (NYSE WSO) opened at 152.81 on Tuesday. The stock has a market capitalization of $4.99 billion, a PE ratio of 28.26 and a beta of 0.82. Watsco has a 1-year low of $128.60 and a 1-year high of $159.55. The stock’s 50 day moving average price is $147.94 and its 200 day moving average price is $145.96.

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Several large investors have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Watsco by 5,677.9% in the 1st quarter. BlackRock Inc. now owns 2,656,561 shares of the construction company’s stock valued at $380,367,000 after acquiring an additional 2,610,583 shares during the period. Vanguard Group Inc. increased its holdings in shares of Watsco by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 2,489,042 shares of the construction company’s stock valued at $383,810,000 after acquiring an additional 34,943 shares during the period. FMR LLC increased its holdings in shares of Watsco by 10.7% in the 2nd quarter. FMR LLC now owns 1,023,513 shares of the construction company’s stock valued at $157,826,000 after acquiring an additional 99,041 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Watsco by 54.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 875,680 shares of the construction company’s stock valued at $134,994,000 after acquiring an additional 309,675 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Watsco by 7.8% in the 1st quarter. JPMorgan Chase & Co. now owns 835,734 shares of the construction company’s stock valued at $119,661,000 after acquiring an additional 60,535 shares during the period. Institutional investors and hedge funds own 81.62% 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.

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Earnings History and Estimates for Watsco (NYSE:WSO)

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