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.

WARNING: This piece of content was reported by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another domain, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/10/04/equities-analysts-set-expectations-for-watsco-inc-s-fy2017-earnings-wso.html.

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%.

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.

Earnings History and Estimates for Watsco (NYSE:WSO)

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.