Watsco Inc Expected to Earn FY2017 Earnings of $5.57 Per Share (WSO)
Watsco Inc (NYSE:WSO) – Analysts at William Blair lifted their FY2017 earnings per share estimates for Watsco in a research report issued to clients and investors on Tuesday. William Blair analyst R. Merkel now forecasts that the construction company will post earnings of $5.57 per share for the year, up from their prior estimate of $5.55. William Blair also issued estimates for Watsco’s Q4 2017 earnings at $0.98 EPS, Q3 2018 earnings at $2.14 EPS and Q4 2018 earnings at $1.06 EPS.
Watsco (NYSE:WSO) last announced its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the company earned $1.78 earnings per share. The firm’s revenue was down .9% compared to the same quarter last year.
Shares of Watsco (NYSE WSO) opened at $173.06 on Wednesday. Watsco has a fifty-two week low of $134.08 and a fifty-two week high of $174.84. The stock has a market capitalization of $6,123.86, a PE ratio of 31.99 and a beta of 0.83. The company has a quick ratio of 1.42, a current ratio of 3.13 and a debt-to-equity ratio of 0.21.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Tuesday, January 16th will be given a $1.25 dividend. The ex-dividend date is Friday, January 12th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.89%. Watsco’s payout ratio is 92.42%.
In related news, SVP Barry S. Logan sold 3,246 shares of Watsco stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $164.30, for a total transaction of $533,317.80. Following the completion of the sale, the senior vice president now directly owns 15,800 shares of the company’s stock, valued at approximately $2,595,940. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 13.93% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Watsco by 1.4% during 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 increased its stake in Watsco by 10.7% during 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. increased its stake in Watsco by 54.7% during 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. State Street Corp increased its stake in Watsco by 6.8% during 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. Finally, Wells Fargo & Company MN increased its stake in Watsco by 1.8% during the 3rd quarter. Wells Fargo & Company MN now owns 765,046 shares of the construction company’s stock worth $123,227,000 after acquiring an additional 13,404 shares during the period. 82.40% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION NOTICE: “Watsco Inc Expected to Earn FY2017 Earnings of $5.57 Per Share (WSO)” was published by American Banking News and is the property of of American Banking News. If you are reading this piece on another domain, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The legal version of this piece can be read at https://www.americanbankingnews.com/2018/01/10/watsco-inc-expected-to-earn-fy2017-earnings-of-5-57-per-share-wso.html.
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.
Receive News & Ratings for Watsco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Watsco and related companies with MarketBeat.com's FREE daily email newsletter.