Watsco Inc to Post Q1 2018 Earnings of $0.88 Per Share, KeyCorp Forecasts (WSO)
Watsco Inc (NYSE:WSO) – Equities research analysts at KeyCorp issued their Q1 2018 earnings per share (EPS) estimates for Watsco in a report issued on Thursday. KeyCorp analyst J. Hammond forecasts that the construction company will post earnings per share of $0.88 for the quarter. KeyCorp currently has a “Buy” rating on the stock. KeyCorp also issued estimates for Watsco’s Q3 2018 earnings at $2.32 EPS, Q4 2018 earnings at $1.12 EPS and FY2019 earnings at $7.50 EPS.
Watsco (NYSE:WSO) last announced its quarterly earnings results on Thursday, February 8th. The construction company reported $0.90 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.10). The business had revenue of $964.35 million for the quarter, compared to analysts’ expectations of $965.85 million. Watsco had a return on equity of 14.66% and a net margin of 4.80%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm earned $0.81 earnings per share.
Shares of Watsco (NYSE:WSO) opened at $164.93 on Monday. Watsco has a fifty-two week low of $134.08 and a fifty-two week high of $182.79. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.21 and a quick ratio of 1.38. The firm has a market capitalization of $5,896.55, a PE ratio of 28.49 and a beta of 0.87.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Tuesday, January 16th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Friday, January 12th. Watsco’s payout ratio is currently 86.36%.
In related 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 transaction, the senior vice president now owns 15,800 shares in the company, valued at approximately $2,595,940. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.93% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of WSO. Renaissance Technologies LLC acquired a new position in Watsco in the 4th quarter valued at about $31,780,000. BlackRock Inc. increased its position in Watsco by 4.1% in the 4th quarter. BlackRock Inc. now owns 2,682,903 shares of the construction company’s stock valued at $456,201,000 after acquiring an additional 105,677 shares during the period. DF Dent & Co. Inc. increased its position in Watsco by 25.7% in the 3rd quarter. DF Dent & Co. Inc. now owns 430,125 shares of the construction company’s stock valued at $69,280,000 after acquiring an additional 88,072 shares during the period. Riverbridge Partners LLC increased its position in Watsco by 68.4% in the 3rd quarter. Riverbridge Partners LLC now owns 163,063 shares of the construction company’s stock valued at $26,265,000 after acquiring an additional 66,240 shares during the period. Finally, APG Asset Management N.V. acquired a new position in Watsco in the 4th quarter valued at about $7,802,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.
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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