Watsco Inc. (NYSE:WSO) – Investment analysts at KeyCorp upped their Q3 2016 EPS estimates for Watsco in a research report issued on Wednesday. KeyCorp analyst J. Hammond now forecasts that the brokerage will post earnings of $1.96 per share for the quarter, up from their prior estimate of $1.86. KeyCorp also issued estimates for Watsco’s FY2016 earnings at $5.35 EPS.
A number of other research analysts also recently issued reports on WSO. JPMorgan Chase & Co. reduced their price objective on Watsco from $131.00 to $128.00 and set a “neutral” rating for the company in a research note on Wednesday, July 27th. Stifel Nicolaus reduced their price objective on Watsco from $154.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 25th. Barclays PLC set a $113.00 price objective on Watsco and gave the company a “sell” rating in a research note on Monday, July 25th. Zacks Investment Research downgraded Watsco from a “hold” rating to a “sell” rating in a research note on Friday, July 8th. Finally, Seaport Global Securities downgraded Watsco from an “accumulate” rating to a “neutral” rating and set a $150.00 price objective for the company. in a research note on Monday, July 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $138.50.
Watsco (NYSE:WSO) opened at 144.74 on Monday. The company has a market cap of $4.71 billion, a PE ratio of 29.33 and a beta of 0.94. The firm has a 50-day moving average price of $144.04 and a 200-day moving average price of $138.78. Watsco has a 52-week low of $106.58 and a 52-week high of $149.99.
Watsco (NYSE:WSO) last issued its quarterly earnings results on Friday, July 22nd. The company reported $1.82 EPS for the quarter, missing the Zacks’ consensus estimate of $2.04 by $0.22. Watsco had a return on equity of 13.65% and a net margin of 4.05%. The company earned $1.21 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the business posted $1.85 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis.
A number of hedge funds have recently modified their holdings of WSO. Foundry Partners LLC boosted its stake in shares of Watsco by 0.6% in the third quarter. Foundry Partners LLC now owns 1,660 shares of the company’s stock worth $234,000 after buying an additional 10 shares during the period. Advisor Partners LLC boosted its stake in Watsco by 1.0% in the second quarter. Advisor Partners LLC now owns 1,530 shares of the company’s stock valued at $215,000 after buying an additional 15 shares during the last quarter. Washington Trust Bank boosted its stake in Watsco by 1.9% in the third quarter. Washington Trust Bank now owns 851 shares of the company’s stock valued at $120,000 after buying an additional 16 shares during the last quarter. Creative Planning boosted its stake in Watsco by 1.8% in the second quarter. Creative Planning now owns 966 shares of the company’s stock valued at $136,000 after buying an additional 17 shares during the last quarter. Finally, Anchor Capital Advisors LLC boosted its stake in Watsco by 0.8% in the second quarter. Anchor Capital Advisors LLC now owns 5,035 shares of the company’s stock valued at $708,000 after buying an additional 40 shares during the last quarter. 67.33% of the stock is currently owned by institutional investors and hedge funds.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Monday, October 17th will be issued a dividend of $1.05 per share. This is a boost from Watsco’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $4.20 dividend on an annualized basis and a yield of 2.90%. Watsco’s dividend payout ratio is 69.11%.
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.
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