Watsco, Inc. (NYSE:WSO) – Equities researchers at KeyCorp dropped their FY2018 EPS estimates for shares of Watsco in a note issued to investors on Wednesday, according to Zacks Investment Research. KeyCorp analyst J. Hammond now expects that the construction company will post earnings of $6.30 per share for the year, down from their previous forecast of $6.35.
Watsco (NYSE:WSO) last issued its quarterly earnings data 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). The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Watsco had a return on equity of 15.00% and a net margin of 4.46%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.78 EPS.
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WSO has been the subject of several other research reports. Zacks Investment Research upgraded shares of Watsco from a “hold” rating to a “buy” rating and set a $169.00 target price for the company in a research note on Tuesday, August 1st. Morgan Stanley increased their target price on shares of Watsco from $141.00 to $151.00 and gave the stock an “underweight” rating in a research note on Monday, September 25th. Stifel Nicolaus reiterated a “buy” rating and set a $154.00 target price on shares of Watsco in a research note on Thursday, September 7th. BidaskClub downgraded shares of Watsco from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Finally, Robert W. Baird reiterated a “buy” rating and set a $163.00 target price on shares of Watsco in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Watsco presently has a consensus rating of “Hold” and an average target price of $160.40.
Watsco (NYSE:WSO) opened at $165.05 on Friday. The stock has a market capitalization of $5,877.04, a PE ratio of 30.65 and a beta of 0.83. Watsco has a twelve month low of $134.08 and a twelve month high of $167.94. The company has a current ratio of 3.13, a quick ratio of 1.42 and a debt-to-equity ratio of 0.21.
Large investors have recently made changes to their positions in the stock. UBS Group AG lifted its position in Watsco by 67.0% in the first quarter. UBS Group AG now owns 32,815 shares of the construction company’s stock valued at $4,698,000 after purchasing an additional 13,165 shares during the period. Legal & General Group Plc lifted its position in Watsco by 16.1% in the second quarter. Legal & General Group Plc now owns 30,746 shares of the construction company’s stock valued at $4,741,000 after purchasing an additional 4,253 shares during the period. Advisor Group Inc. lifted its position in Watsco by 132.4% in the second quarter. Advisor Group Inc. now owns 1,706 shares of the construction company’s stock valued at $263,000 after purchasing an additional 972 shares during the period. Bank of Montreal Can lifted its position in Watsco by 0.8% in the second quarter. Bank of Montreal Can now owns 2,867 shares of the construction company’s stock valued at $442,000 after purchasing an additional 22 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in Watsco in the first quarter valued at about $10,796,000. Hedge funds and other institutional investors own 81.30% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Monday, October 16th were given a $1.25 dividend. The ex-dividend date of this dividend was Friday, October 13th. This represents a $5.00 dividend on an annualized basis and a yield of 3.03%. Watsco’s payout ratio is currently 92.42%.
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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