Wall Street brokerages predict that Watsco Inc (NYSE:WSO) will announce $2.49 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Watsco’s earnings. The highest EPS estimate is $2.55 and the lowest is $2.40. Watsco reported earnings of $2.07 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 20.3%. The firm is expected to announce its next quarterly earnings report on Tuesday, July 24th.
According to Zacks, analysts expect that Watsco will report full year earnings of $6.80 per share for the current financial year, with EPS estimates ranging from $6.60 to $6.99. For the next year, analysts anticipate that the firm will post earnings of $7.49 per share, with EPS estimates ranging from $7.20 to $8.06. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Watsco.
Watsco (NYSE:WSO) last issued its earnings results on Tuesday, April 24th. The construction company reported $0.89 earnings per share for the quarter, hitting the Zacks’ 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 firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.71 earnings per share.
A number of brokerages recently weighed in on WSO. Stephens set a $185.00 target price on shares of Watsco and gave the stock a “hold” rating in a report on Tuesday, April 24th. Zacks Investment Research downgraded shares of Watsco from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Robert W. Baird boosted their target price on shares of Watsco from $176.00 to $185.00 and gave the stock an “outperform” rating in a report on Wednesday, April 25th. Stifel Nicolaus restated a “buy” rating and set a $191.00 target price on shares of Watsco in a report on Wednesday, April 4th. Finally, ValuEngine upgraded shares of Watsco from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $184.14.
Watsco traded up $1.33, reaching $184.33, during trading on Tuesday, according to Marketbeat. 1,217 shares of the stock were exchanged, compared to its average volume of 198,298. The company has a market cap of $6.95 billion, a price-to-earnings ratio of 33.39 and a beta of 0.85. Watsco has a twelve month low of $141.61 and a twelve month high of $192.94. The company has a current ratio of 3.63, a quick ratio of 1.49 and a debt-to-equity ratio of 0.06.
A number of hedge funds have recently added to or reduced their stakes in WSO. BlackRock Inc. boosted its position in Watsco by 35.2% during the first quarter. BlackRock Inc. now owns 3,628,080 shares of the construction company’s stock worth $656,577,000 after purchasing an additional 945,177 shares during the period. Millennium Management LLC bought a new position in Watsco during the fourth quarter worth $63,110,000. Renaissance Technologies LLC bought a new position in Watsco during the fourth quarter worth $31,780,000. Deutsche Bank AG boosted its position in Watsco by 800.0% during the fourth quarter. Deutsche Bank AG now owns 126,058 shares of the construction company’s stock worth $21,433,000 after purchasing an additional 112,051 shares during the period. Finally, Chicago Capital LLC bought a new stake in shares of Watsco in the first quarter valued at about $17,020,000. 81.96% of the stock is owned by hedge funds and other institutional investors.
Watsco Company Profile
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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