Watsco, Inc. (NYSE:WSO) – Research analysts at KeyCorp boosted their FY2017 earnings estimates for Watsco in a research report issued on Monday. KeyCorp analyst J. Hammond now expects that the construction company will post earnings per share of $5.75 for the year, up from their previous estimate of $5.65. KeyCorp also issued estimates for Watsco’s FY2018 earnings at $6.35 EPS.

Other analysts have also issued reports about the company. BidaskClub raised Watsco from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Wolfe Research initiated coverage on Watsco in a research note on Tuesday. They issued a “market perform” rating on the stock. Zacks Investment Research raised Watsco from a “hold” rating to a “buy” rating and set a $173.00 price objective on the stock in a research note on Tuesday, June 27th. Stifel Nicolaus raised their price objective on Watsco from $152.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Finally, Seaport Global Securities raised Watsco from a “neutral” rating to a “buy” rating and raised their price objective for the company from $145.00 to $160.00 in a research note on Wednesday, April 26th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Watsco has an average rating of “Hold” and a consensus price target of $153.14.

ILLEGAL ACTIVITY WARNING: This news story was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another domain, it was copied illegally and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this news story can be read at https://www.thecerbatgem.com/2017/08/07/watsco-inc-wso-to-post-fy2017-earnings-of-5-75-per-share-keycorp-forecasts-updated-updated-updated.html.

Shares of Watsco (NYSE:WSO) opened at 154.38 on Wednesday. The stock has a 50 day moving average of $145.41 and a 200 day moving average of $146.67. The firm has a market cap of $5.04 billion, a P/E ratio of 29.98 and a beta of 0.84. Watsco has a 52 week low of $128.60 and a 52 week high of $159.55.

Watsco (NYSE:WSO) last issued its earnings results on Tuesday, April 25th. The construction company reported $0.67 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by $0.13. Watsco had a net margin of 4.13% and a return on equity of 13.81%. The firm had revenue of $872.10 million during the quarter, compared to analyst estimates of $877.45 million. During the same quarter in the prior year, the firm posted $0.71 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Monday, July 17th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.24%. This is a positive change from Watsco’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Thursday, July 13th. Watsco’s dividend payout ratio (DPR) is presently 82.03%.

Hedge funds have recently made changes to their positions in the stock. Flinton Capital Management LLC increased its position in shares of Watsco by 9.1% in the first quarter. Flinton Capital Management LLC now owns 768 shares of the construction company’s stock worth $110,000 after buying an additional 64 shares during the period. Creative Planning increased its position in shares of Watsco by 1.5% in the first quarter. Creative Planning now owns 979 shares of the construction company’s stock worth $140,000 after buying an additional 14 shares during the period. Meadow Creek Investment Management LLC increased its position in shares of Watsco by 9.1% in the first quarter. Meadow Creek Investment Management LLC now owns 1,056 shares of the construction company’s stock worth $151,000 after buying an additional 88 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Watsco by 41.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,174 shares of the construction company’s stock worth $168,000 after buying an additional 343 shares during the period. Finally, Glen Harbor Capital Management LLC increased its position in shares of Watsco by 9.1% in the first quarter. Glen Harbor Capital Management LLC now owns 1,344 shares of the construction company’s stock worth $192,000 after buying an additional 112 shares during the period. 79.18% of the stock is currently owned by hedge funds and other institutional investors.

About Watsco

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.

Earnings History and Estimates for Watsco (NYSE:WSO)

Receive News & Stock Ratings for Watsco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Watsco Inc. and related stocks with our FREE daily email newsletter.