Watsco, Inc. (NYSE:WSO) – Stock analysts at KeyCorp upped their FY2017 earnings estimates for shares of Watsco in a research report issued on Sunday. KeyCorp analyst J. Hammond now anticipates that the firm will earn $5.75 per share for the year, up from their previous forecast of $5.70.
Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, October 25th. The company reported $1.78 earnings per share for the quarter, missing the consensus estimate of $1.92 by $0.14. Watsco had a return on equity of 13.79% and a net margin of 4.10%. The company earned $1.24 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the firm earned $1.64 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis.
Several other research analysts have also recently weighed in on the company. Morgan Stanley cut Watsco from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $160.00 to $152.00 in a research report on Monday, December 19th. Stephens cut Watsco from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, December 13th. They noted that the move was a valuation call. Finally, Longbow Research upgraded Watsco from a “neutral” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Friday, October 14th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $143.64.
Shares of Watsco (NYSE:WSO) opened at 153.95 on Wednesday. The firm has a market capitalization of $5.02 billion, a PE ratio of 30.35 and a beta of 0.77. The stock has a 50 day moving average price of $150.82 and a 200 day moving average price of $144.88. Watsco has a 1-year low of $109.15 and a 1-year high of $159.55.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Tuesday, January 17th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Thursday, January 12th. Watsco’s payout ratio is currently 83.00%.
Several hedge funds and other institutional investors have recently modified their holdings of WSO. Price T Rowe Associates Inc. MD boosted its position in shares of Watsco by 61.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 861,559 shares of the company’s stock worth $121,394,000 after buying an additional 329,474 shares during the last quarter. Columbia Wanger Asset Management LLC bought a new position in shares of Watsco during the second quarter worth approximately $45,963,000. Ameriprise Financial Inc. boosted its position in shares of Watsco by 151.8% in the third quarter. Ameriprise Financial Inc. now owns 196,707 shares of the company’s stock worth $27,709,000 after buying an additional 118,585 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Watsco by 562.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 125,790 shares of the company’s stock worth $17,624,000 after buying an additional 106,790 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new position in shares of Watsco during the fourth quarter worth approximately $10,622,000. Institutional investors own 66.75% of the company’s stock.
Watsco, Inc (Watsco) is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R). The Company operates in the HVAC/R distribution industry in North America. The Company operates at approximately 570 locations in over 40 United States’ states, Canada, Mexico and Puerto Rico.