KeyCorp Analysts Boost Earnings Estimates for Watsco Inc (WSO)
Watsco Inc (NYSE:WSO) – Analysts at KeyCorp boosted their Q3 2018 earnings per share estimates for shares of Watsco in a research report issued to clients and investors on Monday, October 8th. KeyCorp analyst J. Hammond now forecasts that the construction company will post earnings per share of $2.27 for the quarter, up from their previous estimate of $2.21. KeyCorp also issued estimates for Watsco’s FY2018 earnings at $6.65 EPS and FY2019 earnings at $7.30 EPS.
WSO has been the subject of several other reports. ValuEngine upgraded shares of Watsco from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. Robert W. Baird cut shares of Watsco from an “outperform” rating to a “neutral” rating and set a $185.00 target price on the stock. in a research note on Tuesday, July 3rd. Longbow Research cut shares of Watsco from a “buy” rating to a “neutral” rating in a research note on Monday, July 30th. Zacks Investment Research cut shares of Watsco from a “hold” rating to a “sell” rating in a research note on Monday, July 16th. Finally, JPMorgan Chase & Co. cut shares of Watsco from a “neutral” rating to an “underweight” rating and boosted their target price for the stock from $166.00 to $176.00 in a research note on Friday, September 21st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Watsco currently has a consensus rating of “Hold” and a consensus target price of $184.38.
Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, July 25th. The construction company reported $2.40 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.07). Watsco had a net margin of 5.05% and a return on equity of 14.26%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the firm earned $2.07 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Monday, October 15th will be paid a dividend of $1.45 per share. The ex-dividend date of this dividend is Friday, October 12th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 3.56%. Watsco’s payout ratio is presently 105.84%.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Advisory Inc. bought a new stake in shares of Watsco in the second quarter worth $111,258,000. United Services Automobile Association grew its stake in shares of Watsco by 5,047.4% in the second quarter. United Services Automobile Association now owns 253,819 shares of the construction company’s stock worth $15,176,000 after purchasing an additional 248,888 shares during the last quarter. Caledonia Investments PLC bought a new stake in shares of Watsco in the second quarter worth $27,986,000. BlackRock Inc. grew its stake in shares of Watsco by 2.7% in the second quarter. BlackRock Inc. now owns 3,727,767 shares of the construction company’s stock worth $664,588,000 after purchasing an additional 99,687 shares during the last quarter. Finally, First Quadrant L P CA grew its stake in shares of Watsco by 97,616.9% in the second quarter. First Quadrant L P CA now owns 69,379 shares of the construction company’s stock worth $12,369,000 after purchasing an additional 69,308 shares during the last quarter. 83.92% of the stock is currently owned by hedge funds and other institutional investors.
Watsco Company Profile
Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.
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