The $1.29 Billion in Sales Expected for Watsco Inc (WSO) This Quarter

The $1.29 Billion in Sales Expected for Watsco Inc (WSO) This Quarter

On average, analysts expect that Watsco will report full-year sales of $1.29 billion for the current year, with estimates ranging from $4.39 billion to $4.42 billion. For the next fiscal year, analysts expect that the company will report sales of $4.59 billion per share, with estimates ranging from $4.56 billion to $4.66 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Watsco.

Brokerages expect that Watsco Inc (NYSE:WSO) will report sales of $1.29 billion for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Watsco’s earnings, with the highest sales estimate coming in at $1.3 billion and the lowest estimate coming in at $1.28 billion. Watsco reported sales of $1.21 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.6%. The firm is expected to announce its next quarterly earnings report on Friday, July 28th.

Watsco (NYSE:WSO) last released its earnings results on Tuesday, April 25th. The construction company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by $0.13. The business had revenue of $872.10 million during the quarter, compared to the consensus estimate of $877.45 million. Watsco had a net margin of 4.10% and a return on equity of 13.79%. The business’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.71 earnings per share. A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Watsco from a “buy” rating to a “hold” rating in a research report on Saturday, February 18th. Stifel Nicolaus boosted their price objective on shares of Watsco from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, February 15th. Finally, Seaport Global Securities raised shares of Watsco from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $160.00 in a research report on Wednesday, April 26th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $148.88.

Watsco (NYSE:WSO) traded down 0.02% during trading on Wednesday, hitting $139.55. The stock had a trading volume of 238,556 shares. Watsco has a 1-year low of $127.66 and a 1-year high of $159.55. The company has a market capitalization of $4.56 billion, a P/E ratio of 27.10 and a beta of 0.76. The stock’s 50-day moving average price is $139.78 and its 200-day moving average price is $146.45. The company also recently announced a quarterly dividend, which was paid on Friday, April 28th. Investors of record on Friday, April 14th were issued a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Tuesday, April 11th. Watsco’s dividend payout ratio is currently 83.00%.

Watsco (NYSE:WSO) traded down 0.02% during trading on Wednesday, hitting $139.55. The stock had a trading volume of 238,556 shares. Watsco has a 1-year low of $127.66 and a 1-year high of $159.55. The company has a market capitalization of $4.56 billion, a P/E ratio of 27.10 and a beta of 0.76. The stock’s 50-day moving average price is $139.78 and its 200-day moving average price is $146.45. In related news, major shareholder Technologies Corp /De/ United sold 4,235,685 shares of the company’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $140.68, for a total value of $595,876,165.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 13.75% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of WSO. Principal Financial Group Inc. increased its position in shares of Watsco by 4.0% in the third quarter. Principal Financial Group Inc. now owns 103,570 shares of the construction company’s stock valued at $14,593,000 after buying an additional 4,006 shares in the last quarter. Northern Trust Corp increased its position in shares of Watsco by 1.7% in the third quarter. Northern Trust Corp now owns 220,429 shares of the construction company’s stock valued at $31,059,000 after buying an additional 3,629 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Watsco by 0.7% in the third quarter. California State Teachers Retirement System now owns 55,346 shares of the construction company’s stock valued at $7,798,000 after buying an additional 400 shares in the last quarter. State of Tennessee Treasury Department purchased a new position in shares of Watsco during the third quarter valued at $2,718,000. Finally, Ameriprise Financial Inc. increased its position in Watsco by 151.8% in the third quarter. Ameriprise Financial Inc. now owns 196,707 shares of the construction company’s stock valued at $27,709,000 after buying an additional 118,585 shares during the period. 66.86% of the stock is owned by 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.

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