Equities Analysts Set Expectations for Watsco, Inc.’s FY2017 Earnings (WSO)
Watsco, Inc. (NYSE:WSO) – Investment analysts at William Blair decreased their FY2017 earnings estimates for shares of Watsco in a research note issued to investors on Monday. William Blair analyst R. Merkel now anticipates that the construction company will post earnings per share of $5.48 for the year, down from their previous forecast of $5.55.
Watsco (NYSE:WSO) last announced its earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share (EPS) for the quarter, topping the 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 during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the company earned $1.82 EPS. The business’s revenue was up 5.1% compared to the same quarter last year.
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Several other equities research analysts also recently weighed in on WSO. BidaskClub raised Watsco from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Stifel Nicolaus reiterated a “buy” rating and issued a $176.00 price objective (up previously from $163.00) on shares of Watsco in a research report on Friday, June 23rd. Zacks Investment Research upgraded Watsco from a “hold” rating to a “buy” rating and set a $173.00 price target on the stock in a research report on Tuesday, June 27th. Wolfe Research started coverage on shares of Watsco in a report on Tuesday, July 11th. They set a “market perform” rating on the stock. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $141.00 price target (up from $139.00) on shares of Watsco in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $161.17.
Watsco (NYSE:WSO) opened at 163.69 on Wednesday. The company’s 50-day moving average price is $151.62 and its 200-day moving average price is $147.05. Watsco has a 52-week low of $128.60 and a 52-week high of $163.91. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 30.27 and a beta of 0.84.
Several institutional investors have recently modified their holdings of WSO. BlackRock Inc. increased its position in Watsco by 5,677.9% during the first quarter. BlackRock Inc. now owns 2,656,561 shares of the construction company’s stock worth $380,367,000 after purchasing an additional 2,610,583 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Watsco by 26.7% in the 1st quarter. Vanguard Group Inc. now owns 2,454,099 shares of the construction company’s stock valued at $351,379,000 after acquiring an additional 517,615 shares during the period. TimesSquare Capital Management LLC lifted its holdings in shares of Watsco by 198.9% during the 2nd quarter. TimesSquare Capital Management LLC now owns 753,600 shares of the construction company’s stock valued at $116,205,000 after acquiring an additional 501,450 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Watsco by 54.7% during 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 in the last quarter. Finally, DF Dent & Co. Inc. lifted its holdings in shares of Watsco by 951.0% during the 2nd quarter. DF Dent & Co. Inc. now owns 342,053 shares of the construction company’s stock valued at $52,745,000 after acquiring an additional 309,509 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Monday, October 16th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Friday, October 13th. Watsco’s payout ratio is currently 93.11%.
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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