Q3 2016 EPS Estimates for Watsco Inc. Increased by KeyCorp (WSO)
Watsco Inc. (NYSE:WSO) – Equities researchers at KeyCorp raised their Q3 2016 earnings per share estimates for Watsco in a research note issued on Wednesday. KeyCorp analyst J. Hammond now forecasts that the brokerage will post earnings per share of $1.96 for the quarter, up from their previous estimate of $1.86. KeyCorp also issued estimates for Watsco’s FY2016 earnings at $5.35 EPS.
Watsco (NYSE:WSO) last issued its quarterly earnings results on Friday, July 22nd. The company reported $1.82 EPS for the quarter, missing the consensus estimate of $2.04 by $0.22. Watsco had a return on equity of 13.65% and a net margin of 4.05%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the business posted $1.85 EPS. The business’s revenue for the quarter was down .7% on a year-over-year basis.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Watsco from a “hold” rating to a “buy” rating and set a $151.00 target price for the company in a research note on Wednesday, June 22nd. Stifel Nicolaus decreased their target price on shares of Watsco from $154.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 25th. Seaport Global Securities lowered shares of Watsco from an “accumulate” rating to a “neutral” rating and set a $150.00 price objective for the company. in a research note on Monday, July 25th. JPMorgan Chase & Co. reduced their price objective on shares of Watsco from $131.00 to $128.00 and set a “neutral” rating for the company in a research note on Wednesday, July 27th. Finally, Barclays PLC set a $113.00 price objective on shares of Watsco and gave the company a “sell” rating in a research note on Monday, July 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Watsco has an average rating of “Hold” and an average price target of $138.50.
Watsco (NYSE:WSO) opened at 140.71 on Monday. The stock’s 50 day moving average is $143.90 and its 200 day moving average is $138.80. Watsco has a 12 month low of $106.58 and a 12 month high of $149.99. The company has a market cap of $4.58 billion, a PE ratio of 28.51 and a beta of 0.94.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Monday, October 17th will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 2.98%. The ex-dividend date is Thursday, October 13th. This is an increase from Watsco’s previous quarterly dividend of $0.85. Watsco’s dividend payout ratio (DPR) is 69.11%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. bought a new position in Watsco during the second quarter valued at about $120,000. Washington Trust Bank increased its position in Watsco by 1.9% in the third quarter. Washington Trust Bank now owns 851 shares of the company’s stock valued at $120,000 after buying an additional 16 shares during the last quarter. Cantab Capital Partners LLP bought a new position in Watsco during the second quarter valued at about $122,000. Creative Planning increased its position in Watsco by 1.8% in the second quarter. Creative Planning now owns 966 shares of the company’s stock valued at $136,000 after buying an additional 17 shares during the last quarter. Finally, Gray Financial Group GA ADV ADV bought a new position in Watsco during the second quarter valued at about $141,000. Hedge funds and other institutional investors own 67.33% of the company’s stock.
Watsco, Inc (Watsco) is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R). The Company operates in the HVAC/R distribution industry in North America. The Company operates at approximately 570 locations in over 40 United States’ states, Canada, Mexico and Puerto Rico.
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