William Blair Comments on Watsco Inc’s Q3 2018 Earnings (WSO)
Watsco Inc (NYSE:WSO) – William Blair increased their Q3 2018 earnings estimates for Watsco in a report issued on Thursday. William Blair analyst R. Merkel now forecasts that the construction company will post earnings of $2.34 per share for the quarter, up from their previous estimate of $2.14. William Blair also issued estimates for Watsco’s FY2018 earnings at $6.85 EPS.
Watsco (NYSE:WSO) last announced its earnings results on Thursday, February 8th. The construction company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $965.85 million. During the same quarter last year, the business earned $0.81 EPS. The company’s quarterly revenue was up 5.6% on a year-over-year basis.
Watsco (WSO) opened at $164.98 on Monday. Watsco has a 52-week low of $134.08 and a 52-week high of $182.79. The stock has a market capitalization of $5,896.55, a P/E ratio of 28.49 and a beta of 0.87. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.42 and a current ratio of 3.21.
A number of hedge funds have recently made changes to their positions in WSO. SeaCrest Wealth Management LLC purchased a new position in shares of Watsco during the 4th quarter worth $103,000. Cigna Investments Inc. New purchased a new position in shares of Watsco during the 4th quarter worth $205,000. CIBC Asset Management Inc purchased a new position in shares of Watsco during the 3rd quarter worth $206,000. Quantbot Technologies LP purchased a new position in shares of Watsco during the 3rd quarter worth $207,000. Finally, Capital Fund Management S.A. purchased a new position in shares of Watsco during the 4th quarter worth $224,000. Institutional investors own 82.68% of the company’s stock.
In other Watsco news, SVP Barry S. Logan sold 3,246 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $164.30, for a total value of $533,317.80. Following the transaction, the senior vice president now owns 15,800 shares in the company, valued at approximately $2,595,940. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 13.93% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Tuesday, January 16th were issued a $1.25 dividend. The ex-dividend date was Friday, January 12th. This represents a $5.00 dividend on an annualized basis and a yield of 3.03%. Watsco’s payout ratio is currently 86.36%.
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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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