Brokers Offer Predictions for Watsco, Inc.’s Q3 2017 Earnings (WSO)
Watsco, Inc. (NYSE:WSO) – Stock analysts at KeyCorp dropped their Q3 2017 earnings per share (EPS) estimates for shares of Watsco in a research report issued to clients and investors on Tuesday. KeyCorp analyst J. Hammond now expects that the construction company will post earnings of $1.92 per share for the quarter, down from their previous forecast of $1.99. KeyCorp also issued estimates for Watsco’s FY2017 earnings at $5.65 EPS.
A number of other brokerages have also recently weighed in on WSO. Zacks Investment Research cut shares of Watsco from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Morgan Stanley upped their price objective on shares of Watsco from $141.00 to $151.00 and gave the stock an “underweight” rating in a report on Monday, September 25th. Stifel Nicolaus restated a “buy” rating and issued a $176.00 price objective (up previously from $163.00) on shares of Watsco in a report on Friday, June 23rd. BidaskClub upgraded shares of Watsco from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 8th. Finally, Wolfe Research began coverage on shares of Watsco in a report on Tuesday, July 11th. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $161.17.
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Watsco (NYSE:WSO) opened at 159.96 on Thursday. Watsco has a 12 month low of $128.60 and a 12 month high of $163.95. The company has a market cap of $5.23 billion, a PE ratio of 29.58 and a beta of 0.84. The company has a 50-day moving average of $154.24 and a 200 day moving average of $147.74.
Watsco (NYSE:WSO) last announced its quarterly earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.05. Watsco had a net margin of 4.29% and a return on equity of 14.52%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the firm earned $1.82 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Teacher Retirement System of Texas lifted its stake in shares of Watsco by 0.9% in the second quarter. Teacher Retirement System of Texas now owns 2,426 shares of the construction company’s stock worth $374,000 after buying an additional 21 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Watsco by 0.8% in the second quarter. Bank of Montreal Can now owns 2,867 shares of the construction company’s stock worth $442,000 after buying an additional 22 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Watsco by 1.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 2,542 shares of the construction company’s stock worth $392,000 after buying an additional 32 shares in the last quarter. Creative Planning lifted its stake in shares of Watsco by 6.1% in the second quarter. Creative Planning now owns 1,039 shares of the construction company’s stock worth $160,000 after buying an additional 60 shares in the last quarter. Finally, Prudential Financial Inc. lifted its stake in shares of Watsco by 0.4% in the second quarter. Prudential Financial Inc. now owns 18,918 shares of the construction company’s stock worth $2,917,000 after buying an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 81.63% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Monday, October 16th will be paid a $1.25 dividend. The ex-dividend date is Friday, October 13th. This represents a $5.00 annualized dividend and a dividend yield of 3.13%. Watsco’s dividend payout ratio is presently 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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