Analysts Anticipate Watsco (WSO) Will Announce Quarterly Sales of $1.33 Billion

Wall Street brokerages forecast that Watsco (NYSE:WSO) will announce $1.33 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Watsco’s earnings, with the lowest sales estimate coming in at $1.32 billion and the highest estimate coming in at $1.35 billion. Watsco posted sales of $1.28 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 3.9%. The company is scheduled to issue its next quarterly earnings report on Tuesday, July 24th.

On average, analysts expect that Watsco will report full year sales of $4.58 billion for the current year, with estimates ranging from $4.56 billion to $4.61 billion. For the next year, analysts forecast that the business will post sales of $4.79 billion per share, with estimates ranging from $4.76 billion to $4.86 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Watsco.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Tuesday, April 24th. The construction company reported $0.89 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.89. The business had revenue of $926.58 million for the quarter, compared to the consensus estimate of $911.45 million. Watsco had a net margin of 4.92% and a return on equity of 14.44%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.71 earnings per share.

Several equities analysts recently issued reports on WSO shares. Zacks Investment Research raised shares of Watsco from a “hold” rating to a “buy” rating and set a $205.00 price objective on the stock in a research note on Monday, April 16th. JPMorgan Chase reduced their price objective on shares of Watsco from $180.00 to $169.00 and set a “neutral” rating on the stock in a research note on Monday, February 12th. ValuEngine raised shares of Watsco from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Susquehanna Bancshares set a $195.00 price objective on shares of Watsco and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, Stephens set a $169.00 price objective on shares of Watsco and gave the company a “hold” rating in a research note on Thursday, February 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. Watsco currently has a consensus rating of “Hold” and an average price target of $184.14.

A number of hedge funds have recently modified their holdings of the stock. Amalgamated Bank increased its position in Watsco by 5.6% during the fourth quarter. Amalgamated Bank now owns 6,365 shares of the construction company’s stock worth $1,082,000 after purchasing an additional 338 shares during the last quarter. Flinton Capital Management LLC increased its position in Watsco by 22.1% during the fourth quarter. Flinton Capital Management LLC now owns 2,032 shares of the construction company’s stock worth $346,000 after purchasing an additional 368 shares during the last quarter. Guggenheim Capital LLC increased its position in Watsco by 7.8% during the fourth quarter. Guggenheim Capital LLC now owns 5,157 shares of the construction company’s stock worth $877,000 after purchasing an additional 374 shares during the last quarter. Bbva Compass Bancshares Inc. increased its position in Watsco by 6.5% during the first quarter. Bbva Compass Bancshares Inc. now owns 6,573 shares of the construction company’s stock worth $1,190,000 after purchasing an additional 400 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in Watsco by 1.3% during the fourth quarter. Teachers Advisors LLC now owns 32,354 shares of the construction company’s stock worth $5,501,000 after purchasing an additional 405 shares during the last quarter. 81.32% of the stock is owned by hedge funds and other institutional investors.

Shares of Watsco traded up $1.16, hitting $183.07, on Thursday, according to MarketBeat Ratings. 205,761 shares of the stock traded hands, compared to its average volume of 345,906. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.49 and a current ratio of 3.63. The company has a market capitalization of $6.84 billion, a price-to-earnings ratio of 32.23 and a beta of 0.84. Watsco has a 1 year low of $137.06 and a 1 year high of $192.94.

The business also recently declared a quarterly dividend, which was paid on Monday, April 30th. Investors of record on Monday, April 16th were given a dividend of $1.45 per share. This is a positive change from Watsco’s previous quarterly dividend of $1.25. The ex-dividend date was Friday, April 13th. This represents a $5.80 annualized dividend and a yield of 3.17%. Watsco’s dividend payout ratio is 105.84%.

About Watsco

Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.

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Earnings History and Estimates for Watsco (NYSE:WSO)

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