Watsco, Inc. (NYSE:WSO) – KeyCorp reduced their FY2017 earnings estimates for Watsco in a research report issued to clients and investors on Wednesday. KeyCorp analyst J. Hammond now expects that the construction company will earn $5.60 per share for the year, down from their previous forecast of $5.65. KeyCorp also issued estimates for Watsco’s Q4 2017 earnings at $1.01 EPS.

WSO has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Watsco from a “hold” rating to a “buy” rating and set a $169.00 price target on the stock in a report on Tuesday, August 1st. Morgan Stanley raised their price target on shares of Watsco from $141.00 to $151.00 and gave the company an “underweight” rating in a report on Monday, September 25th. Stifel Nicolaus restated a “buy” rating and set a $154.00 price target on shares of Watsco in a report on Thursday, September 7th. 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 set a “market perform” rating on the stock. One equities research 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. The company presently has a consensus rating of “Hold” and a consensus price target of $160.40.

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Shares of Watsco (WSO) opened at 165.81 on Monday. The company’s 50-day moving average is $159.50 and its 200-day moving average is $149.35. The stock has a market capitalization of $5.42 billion, a PE ratio of 30.66 and a beta of 0.84. Watsco has a 12 month low of $132.83 and a 12 month high of $167.02.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.13). Watsco had a return on equity of 15.00% and a net margin of 4.46%. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the company posted $1.78 earnings per share. The firm’s revenue for the quarter was down .9% on a year-over-year basis.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in Watsco by 5,677.9% in the 1st quarter. BlackRock Inc. now owns 2,656,561 shares of the construction company’s stock worth $380,367,000 after acquiring an additional 2,610,583 shares during the period. Vanguard Group Inc. raised its holdings in Watsco by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 2,489,042 shares of the construction company’s stock worth $383,810,000 after acquiring an additional 34,943 shares during the period. FMR LLC raised its holdings in Watsco by 10.7% in the 2nd quarter. FMR LLC now owns 1,023,513 shares of the construction company’s stock worth $157,826,000 after acquiring an additional 99,041 shares during the period. Ameriprise Financial Inc. raised its holdings in Watsco by 54.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 875,680 shares of the construction company’s stock worth $134,994,000 after acquiring an additional 309,675 shares during the period. Finally, State Street Corp raised its holdings in Watsco by 6.8% in the 2nd quarter. State Street Corp now owns 799,293 shares of the construction company’s stock worth $123,247,000 after acquiring an additional 50,751 shares during the period. Hedge funds and other institutional investors own 81.76% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Monday, October 16th will be issued a $1.25 dividend. The ex-dividend date is Friday, October 13th. This represents a $5.00 annualized dividend and a yield of 3.02%. Watsco’s dividend payout ratio (DPR) is presently 92.42%.

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)

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