Watsco, Inc. (NYSE:WSO) – Stock analysts at William Blair reduced their Q3 2017 earnings estimates for Watsco in a research note issued on Tuesday. William Blair analyst R. Merkel now expects that the construction company will post earnings per share of $1.89 for the quarter, down from their previous estimate of $1.93.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.05. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. Watsco had a return on equity of 13.81% and a net margin of 4.13%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $1.82 earnings per share.

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WSO has been the subject of several other reports. Zacks Investment Research cut Watsco from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. BidaskClub raised Watsco from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Stifel Nicolaus upped their price objective on Watsco from $152.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Seaport Global Securities raised Watsco from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $145.00 to $160.00 in a research report on Wednesday, April 26th. Finally, Wolfe Research began coverage on Watsco in a research report on Tuesday, July 11th. They set a “market perform” rating for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $158.00.

Shares of Watsco (NYSE WSO) opened at 148.27 on Wednesday. Watsco has a one year low of $128.60 and a one year high of $159.55. The firm has a market cap of $4.84 billion, a P/E ratio of 28.80 and a beta of 0.84. The firm has a 50-day moving average price of $151.32 and a 200 day moving average price of $146.92.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Monday, July 17th will be given a $1.25 dividend. The ex-dividend date is Thursday, July 13th. This is a boost from Watsco’s previous quarterly dividend of $1.05. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.37%. Watsco’s dividend payout ratio is 97.66%.

Several hedge funds have recently made changes to their positions in WSO. Flinton Capital Management LLC boosted its stake in shares of Watsco by 9.1% in the first quarter. Flinton Capital Management LLC now owns 768 shares of the construction company’s stock worth $110,000 after buying an additional 64 shares during the period. Winslow Evans & Crocker Inc. boosted its stake in shares of Watsco by 300.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 800 shares of the construction company’s stock worth $123,000 after buying an additional 600 shares during the period. Creative Planning boosted its stake in shares of Watsco by 1.5% in the first quarter. Creative Planning now owns 979 shares of the construction company’s stock worth $140,000 after buying an additional 14 shares during the period. Public Employees Retirement Association of Colorado boosted its stake in shares of Watsco by 15.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 952 shares of the construction company’s stock worth $147,000 after buying an additional 129 shares during the period. Finally, Meadow Creek Investment Management LLC boosted its stake in shares of Watsco by 9.1% in the first quarter. Meadow Creek Investment Management LLC now owns 1,056 shares of the construction company’s stock worth $151,000 after buying an additional 88 shares during the period. 80.71% of the stock is owned by hedge funds and other 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.

Earnings History and Estimates for Watsco (NYSE:WSO)

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