Watsco, Inc. (WSO) Expected to Announce Quarterly Sales of $1.25 Billion
Brokerages expect Watsco, Inc. (NYSE:WSO) to post $1.25 billion in sales for the current quarter, according to Zacks. Six analysts have provided estimates for Watsco’s earnings, with estimates ranging from $1.23 billion to $1.27 billion. Watsco reported sales of $1.24 billion in the same quarter last year, which indicates a positive year over year growth rate of 0.8%. The business is expected to announce its next quarterly earnings results before the market opens on Wednesday, October 25th.
According to Zacks, analysts expect that Watsco will report full year sales of $1.25 billion for the current financial year, with estimates ranging from $4.34 billion to $4.39 billion. For the next financial year, analysts anticipate that the business will report sales of $4.58 billion per share, with estimates ranging from $4.52 billion to $4.62 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Watsco.
Watsco (NYSE:WSO) last released its earnings results on Tuesday, July 25th. The construction company reported $2.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.05. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Watsco had a net margin of 4.29% and a return on equity of 14.52%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.82 EPS.
Several equities research analysts have issued reports on WSO shares. BidaskClub raised Watsco from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Morgan Stanley reaffirmed an “underweight” rating and set a $141.00 price target (up previously from $139.00) on shares of Watsco in a report on Wednesday, July 26th. Robert W. Baird reaffirmed a “buy” rating and set a $163.00 price target on shares of Watsco in a report on Friday, September 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $176.00 price target (up previously from $163.00) on shares of Watsco in a report on Friday, June 23rd. Finally, Wolfe Research started coverage on Watsco in a report on Tuesday, July 11th. They set a “market perform” rating for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $159.40.
Watsco (WSO) opened at 159.30 on Friday. The firm has a market capitalization of $5.21 billion, a PE ratio of 29.46 and a beta of 0.84. Watsco has a 1-year low of $128.60 and a 1-year high of $163.95. The company’s 50-day moving average is $157.04 and its 200 day moving average is $148.41.
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 issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, October 13th. Watsco’s dividend payout ratio is currently 93.11%.
Several institutional investors and hedge funds have recently bought and sold shares of WSO. Waldron LP acquired a new stake in shares of Watsco during the first quarter worth $224,000. Credit Agricole S A lifted its holdings in shares of Watsco by 89.2% during the first quarter. Credit Agricole S A now owns 4,126 shares of the construction company’s stock worth $591,000 after buying an additional 1,945 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Watsco by 19.5% during the first quarter. Principal Financial Group Inc. now owns 124,420 shares of the construction company’s stock worth $17,814,000 after buying an additional 20,280 shares in the last quarter. FMR LLC lifted its holdings in shares of Watsco by 5.4% during the first quarter. FMR LLC now owns 924,472 shares of the construction company’s stock worth $132,366,000 after buying an additional 47,626 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Watsco by 2.9% during the first quarter. PNC Financial Services Group Inc. now owns 5,497 shares of the construction company’s stock worth $786,000 after buying an additional 154 shares in the last quarter. 81.63% of the stock is owned by institutional investors.
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Watsco Company Profile
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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