$1.28 Billion in Sales Expected for Watsco, Inc. (WSO) This Quarter
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.
COPYRIGHT VIOLATION NOTICE: This piece was originally published by American Banking News and is owned by of American Banking News. If you are viewing this piece on another website, it was stolen and republished in violation of United States and international trademark and copyright law. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2017/09/12/1-28-billion-in-sales-expected-for-watsco-inc-wso-this-quarter-2.html.
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.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.