Watsco, Inc. (WSO) Forecasted to Post FY2017 Earnings of $5.60 Per Share
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%.
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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