Watsco, Inc. (NYSE:WSO) Expected to Post Earnings of $4.82 Per Share

Wall Street brokerages expect Watsco, Inc. (NYSE:WSOGet Rating) to post earnings per share (EPS) of $4.82 for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Watsco’s earnings, with the highest EPS estimate coming in at $5.30 and the lowest estimate coming in at $4.21. Watsco posted earnings per share of $3.71 during the same quarter last year, which would indicate a positive year-over-year growth rate of 29.9%. The company is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Watsco will report full-year earnings of $13.97 per share for the current financial year, with EPS estimates ranging from $12.65 to $15.30. For the next financial year, analysts expect that the company will post earnings of $13.90 per share, with EPS estimates ranging from $11.95 to $14.80. Zacks’ EPS calculations are a mean average based on a survey of analysts that follow Watsco.

Watsco (NYSE:WSOGet Rating) last issued its earnings results on Thursday, April 21st. The construction company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $1.08. Watsco had a return on equity of 23.76% and a net margin of 7.16%. The company had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the business earned $1.39 EPS. Watsco’s quarterly revenue was up 34.1% compared to the same quarter last year.

Several analysts have recently commented on the company. Robert W. Baird increased their price objective on Watsco from $300.00 to $350.00 in a research note on Friday, April 22nd. StockNews.com downgraded shares of Watsco from a “buy” rating to a “hold” rating in a report on Saturday, April 30th. KeyCorp raised shares of Watsco from a “sector weight” rating to an “overweight” rating and set a $320.00 price target on the stock in a research report on Monday, February 14th. Finally, Morgan Stanley reduced their price objective on shares of Watsco from $288.00 to $277.00 and set an “equal weight” rating for the company in a research report on Friday, April 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Watsco presently has a consensus rating of “Hold” and an average price target of $316.29.

In other Watsco news, Director Brian E. Keeley sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, March 23rd. The stock was sold at an average price of $299.68, for a total value of $3,296,480.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 13.31% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of WSO. Accel Wealth Management bought a new stake in shares of Watsco during the 4th quarter valued at about $28,000. Sonora Investment Management LLC lifted its position in Watsco by 75.5% during the third quarter. Sonora Investment Management LLC now owns 93 shares of the construction company’s stock valued at $25,000 after purchasing an additional 40 shares during the last quarter. Whittier Trust Co. purchased a new position in Watsco in the 4th quarter worth approximately $31,000. GoalVest Advisory LLC bought a new position in shares of Watsco in the 1st quarter worth $32,000. Finally, O Dell Group LLC purchased a new stake in shares of Watsco during the 1st quarter valued at $32,000. Institutional investors and hedge funds own 78.13% of the company’s stock.

Shares of NYSE:WSO traded up $1.10 during midday trading on Monday, hitting $247.78. 231,198 shares of the company’s stock were exchanged, compared to its average volume of 226,525. Watsco has a 12 month low of $239.62 and a 12 month high of $318.98. The company has a market cap of $9.65 billion, a PE ratio of 20.23 and a beta of 0.88. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.77 and a quick ratio of 1.11. The stock has a 50 day moving average price of $283.76 and a 200-day moving average price of $288.61.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 29th. Stockholders of record on Thursday, April 14th were paid a $2.20 dividend. This is an increase from Watsco’s previous quarterly dividend of $1.95. The ex-dividend date was Wednesday, April 13th. This represents a $8.80 annualized dividend and a dividend yield of 3.55%. Watsco’s dividend payout ratio (DPR) is presently 71.84%.

Watsco Company Profile (Get Rating)

Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, refrigeration equipment, and related parts and supplies. The company distributes equipment comprising residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.

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Earnings History and Estimates for Watsco (NYSE:WSO)

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