Watsco, Inc. (NYSE:WSO) – Equities researchers at KeyCorp boosted their Q2 2021 earnings estimates for shares of Watsco in a research report issued on Tuesday, April 13th. KeyCorp analyst J. Hammond now forecasts that the construction company will earn $2.72 per share for the quarter, up from their prior estimate of $2.66. KeyCorp also issued estimates for Watsco’s Q3 2021 earnings at $2.82 EPS, FY2021 earnings at $7.80 EPS and FY2022 earnings at $8.25 EPS.
Other equities research analysts also recently issued research reports about the company. Vertical Research raised Watsco from a “sell” rating to a “hold” rating in a report on Monday, January 4th. William Blair reissued an “outperform” rating on shares of Watsco in a report on Wednesday, January 20th. JPMorgan Chase & Co. upgraded Watsco from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $185.00 to $218.00 in a research report on Monday, March 1st. Jefferies Financial Group raised their price target on Watsco from $230.00 to $250.00 and gave the stock a “hold” rating in a research report on Friday, January 15th. Finally, Morgan Stanley raised their price target on Watsco from $233.00 to $244.00 and gave the stock an “equal weight” rating in a research report on Monday, April 12th. Seven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $228.00.
Watsco (NYSE:WSO) last announced its quarterly earnings results on Thursday, February 11th. The construction company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.13. Watsco had a return on equity of 13.38% and a net margin of 4.77%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 30th. Shareholders of record on Thursday, April 15th will be given a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Wednesday, April 14th. This is a boost from Watsco’s previous quarterly dividend of $1.78. Watsco’s payout ratio is currently 109.23%.
Institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc grew its holdings in shares of Watsco by 91.4% during the fourth quarter. IFP Advisors Inc now owns 178 shares of the construction company’s stock worth $40,000 after purchasing an additional 85 shares during the last quarter. Ropes Wealth Advisors LLC grew its holdings in shares of Watsco by 58.7% during the fourth quarter. Ropes Wealth Advisors LLC now owns 200 shares of the construction company’s stock worth $45,000 after purchasing an additional 74 shares during the last quarter. Graves Light Private Wealth Management Inc. bought a new stake in shares of Watsco during the fourth quarter worth about $46,000. JJJ Advisors Inc. grew its holdings in shares of Watsco by 213.4% during the fourth quarter. JJJ Advisors Inc. now owns 210 shares of the construction company’s stock worth $48,000 after purchasing an additional 143 shares during the last quarter. Finally, Black Swift Group LLC bought a new stake in shares of Watsco during the fourth quarter worth about $78,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.
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, including gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.
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