Watsco, Inc. (NYSE:WSO) – Research analysts at William Blair lowered their Q2 2017 earnings estimates for shares of Watsco in a report released on Monday. William Blair analyst R. Merkel now forecasts that the construction company will post earnings per share of $1.94 for the quarter, down from their prior estimate of $2.05. William Blair also issued estimates for Watsco’s Q4 2017 earnings at $0.92 EPS and FY2017 earnings at $5.50 EPS.
Watsco (NYSE:WSO) last announced its quarterly earnings data on Tuesday, April 25th. The construction company reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by $0.13. The company had revenue of $872.10 million for the quarter, compared to analyst estimates of $877.45 million. Watsco had a return on equity of 13.81% and a net margin of 4.13%. Watsco’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.71 earnings per share. COPYRIGHT VIOLATION WARNING: “Watsco, Inc. to Post Q2 2017 Earnings of $1.94 Per Share, William Blair Forecasts (WSO)” was reported by BBNS and is the property of of BBNS. If you are reading this story on another publication, it was stolen and republished in violation of international copyright legislation. The correct version of this story can be viewed at https://baseballnewssource.com/markets/watsco-inc-to-post-q2-2017-earnings-of-1-94-per-share-william-blair-forecasts-wso-updated-updated-updated/1251355.html.
WSO has been the subject of several other reports. Zacks Investment Research cut shares of Watsco from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Stifel Nicolaus reiterated a “buy” rating and set a $176.00 target price (up from $163.00) on shares of Watsco in a research note on Friday, June 23rd. Seaport Global Securities upgraded shares of Watsco from a “neutral” rating to a “buy” rating and upped their target price for the company from $145.00 to $160.00 in a research note on Wednesday, April 26th. BidaskClub cut shares of Watsco from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Finally, Wolfe Research started coverage on shares of Watsco in a research note on Tuesday, July 11th. They set a “market perform” rating for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $153.14.
Watsco (NYSE:WSO) opened at 150.99 on Thursday. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of 29.32 and a beta of 0.84. Watsco has a one year low of $128.60 and a one year high of $159.55. The firm’s 50-day moving average is $150.65 and its 200 day moving average is $146.90.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Monday, July 17th will be paid a dividend of $1.25 per share. This is a boost from Watsco’s previous quarterly dividend of $1.05. This represents a $5.00 annualized dividend and a yield of 3.31%. The ex-dividend date is Thursday, July 13th. Watsco’s dividend payout ratio is presently 97.66%.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Watsco by 5,677.9% in the first quarter. BlackRock Inc. now owns 2,656,561 shares of the construction company’s stock valued at $380,367,000 after buying an additional 2,610,583 shares during the period. Thomaspartners Inc. acquired a new stake in shares of Watsco during the first quarter valued at about $80,907,000. Vanguard Group Inc. raised its stake in shares of Watsco by 26.7% in the first quarter. Vanguard Group Inc. now owns 2,454,099 shares of the construction company’s stock valued at $351,379,000 after buying an additional 517,615 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Watsco by 110.4% in the first quarter. Ameriprise Financial Inc. now owns 566,005 shares of the construction company’s stock valued at $80,991,000 after buying an additional 296,959 shares during the period. Finally, Norges Bank acquired a new stake in shares of Watsco during the fourth quarter valued at about $39,454,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.
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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