Equities Analysts Set Expectations for Watsco Inc’s FY2017 Earnings (WSO)
Watsco Inc (NYSE:WSO) – Stock analysts at William Blair increased their FY2017 earnings per share estimates for shares of Watsco in a report issued on Tuesday. William Blair analyst R. Merkel now anticipates that the construction company will post earnings per share of $5.57 for the year, up from their prior estimate of $5.55. William Blair also issued estimates for Watsco’s Q4 2017 earnings at $0.98 EPS, Q3 2018 earnings at $2.14 EPS and Q4 2018 earnings at $1.06 EPS.
Several other brokerages have also recently issued reports on WSO. Morgan Stanley boosted their price objective on Watsco from $151.00 to $156.00 and gave the company an “underweight” rating in a report on Thursday, October 26th. KeyCorp reissued a “buy” rating on shares of Watsco in a report on Friday, November 17th. Finally, Zacks Investment Research cut Watsco from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $160.40.
Watsco (NYSE:WSO) last posted its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.82 earnings per share for the quarter, missing the Thomson Reuters’ 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 net margin of 4.46% and a return on equity of 15.00%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.78 EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Tuesday, January 16th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, January 12th. This represents a $5.00 annualized dividend and a dividend yield of 2.86%. Watsco’s dividend payout ratio (DPR) is presently 91.74%.
In other news, SVP Barry S. Logan sold 3,246 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $164.30, for a total value of $533,317.80. Following the completion of the transaction, the senior vice president now owns 15,800 shares of the company’s stock, valued at approximately $2,595,940. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 13.93% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. San Francisco Sentry Investment Group CA acquired a new position in Watsco in the 2nd quarter worth about $125,000. CIBC Asset Management Inc acquired a new position in Watsco in the 3rd quarter worth about $206,000. Quantbot Technologies LP acquired a new position in Watsco in the 3rd quarter worth about $207,000. Janney Montgomery Scott LLC acquired a new position in Watsco in the 3rd quarter worth about $215,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Watsco by 14.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,340 shares of the construction company’s stock worth $207,000 after purchasing an additional 166 shares during the period. 82.40% of the stock is owned by institutional investors.
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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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