Analysts predict that Watsco Inc (NYSE:WSO) will post $2.22 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Watsco’s earnings. The lowest EPS estimate is $2.19 and the highest is $2.29. Watsco reported earnings per share of $1.82 in the same quarter last year, which suggests a positive year-over-year growth rate of 22%. The business is expected to report its next quarterly earnings results on Wednesday, October 24th.
According to Zacks, analysts expect that Watsco will report full-year earnings of $6.67 per share for the current financial year, with EPS estimates ranging from $6.60 to $6.76. For the next fiscal year, analysts anticipate that the company will post earnings of $7.27 per share, with EPS estimates ranging from $7.17 to $7.40. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow Watsco.
Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, July 25th. The construction company reported $2.40 earnings per share 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 company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the business earned $2.07 earnings per share. Watsco’s revenue was up 4.5% compared to the same quarter last year.
Several brokerages have recently weighed in on WSO. Longbow Research downgraded Watsco from a “buy” rating to a “neutral” rating in a report on Monday, July 30th. Zacks Investment Research upgraded Watsco from a “sell” rating to a “hold” rating in a report on Tuesday, June 12th. ValuEngine upgraded Watsco from a “hold” rating to a “buy” rating in a report on Tuesday. Seaport Global Securities downgraded Watsco from a “buy” rating to a “neutral” rating in a report on Thursday, July 26th. Finally, Robert W. Baird downgraded Watsco from an “outperform” rating to a “neutral” rating and set a $185.00 price target for the company. in a report on Tuesday, July 3rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $184.14.
Shares of NYSE:WSO traded up $2.07 on Thursday, hitting $183.05. 134,000 shares of the company traded hands, compared to its average volume of 263,527. Watsco has a 52 week low of $151.30 and a 52 week high of $192.94. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.10 and a quick ratio of 1.43. The company has a market capitalization of $6.69 billion, a PE ratio of 33.40 and a beta of 0.72.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ostrum Asset Management purchased a new position in Watsco in the first quarter worth about $100,000. Bruderman Asset Management LLC purchased a new position in Watsco in the second quarter worth about $111,000. Ontario Teachers Pension Plan Board purchased a new position in Watsco in the second quarter worth about $241,000. Stevens Capital Management LP purchased a new position in Watsco in the second quarter worth about $242,000. Finally, Naples Global Advisors LLC purchased a new position in Watsco in the second quarter worth about $272,000. Institutional investors own 85.62% of the company’s stock.
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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