Watsco Inc Expected to Earn Q2 2018 Earnings of $2.56 Per Share (WSO)
Watsco Inc (NYSE:WSO) – Equities research analysts at Seaport Global Securities raised their Q2 2018 earnings per share estimates for Watsco in a research report issued on Friday. Seaport Global Securities analyst W. Liptak now anticipates that the construction company will earn $2.56 per share for the quarter, up from their prior forecast of $2.38. Seaport Global Securities also issued estimates for Watsco’s Q3 2018 earnings at $2.39 EPS, FY2018 earnings at $6.99 EPS, Q1 2019 earnings at $1.01 EPS, Q2 2019 earnings at $2.94 EPS, Q3 2019 earnings at $2.66 EPS, Q4 2019 earnings at $1.45 EPS and FY2019 earnings at $8.06 EPS.
Watsco (NYSE:WSO) last announced its quarterly earnings results on Thursday, February 8th. The construction company reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.10). Watsco had a net margin of 4.80% and a return on equity of 14.66%. The business had revenue of $964.35 million during the quarter, compared to analysts’ expectations of $965.85 million. During the same quarter in the prior year, the firm earned $0.81 EPS. Watsco’s revenue for the quarter was up 5.6% on a year-over-year basis.
Watsco (NYSE:WSO) opened at $164.98 on Monday. The company has a quick ratio of 1.42, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. Watsco has a 52 week low of $134.08 and a 52 week high of $182.79. The firm has a market capitalization of $5,896.55, a PE ratio of 28.49 and a beta of 0.87.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Tuesday, January 16th were paid a dividend of $1.25 per share. The ex-dividend date was Friday, January 12th. This represents a $5.00 annualized dividend and a yield of 3.03%. Watsco’s dividend payout ratio (DPR) is currently 86.36%.
In other Watsco news, SVP Barry S. Logan sold 3,246 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $164.30, for a total transaction of $533,317.80. Following the completion of the sale, the senior vice president now directly owns 15,800 shares in the company, valued at approximately $2,595,940. The transaction was disclosed in a document filed with the SEC, which is available through this link. 13.93% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of WSO. Advisor Group Inc. increased its stake in Watsco by 132.4% during the 2nd quarter. Advisor Group Inc. now owns 1,706 shares of the construction company’s stock worth $263,000 after buying an additional 972 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in Watsco by 107.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 45,717 shares of the construction company’s stock worth $7,050,000 after buying an additional 23,686 shares in the last quarter. Stifel Financial Corp increased its stake in Watsco by 114.5% during the 2nd quarter. Stifel Financial Corp now owns 10,696 shares of the construction company’s stock worth $1,644,000 after buying an additional 5,710 shares in the last quarter. HighTower Advisors LLC purchased a new stake in Watsco during the 2nd quarter worth approximately $257,000. Finally, Royal Bank of Canada increased its stake in Watsco by 46.9% during the 2nd quarter. Royal Bank of Canada now owns 12,986 shares of the construction company’s stock worth $2,002,000 after buying an additional 4,146 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.
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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.
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