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.

A number of other brokerages have also issued reports on WSO. Zacks Investment Research lowered Watsco from a “buy” rating to a “hold” rating in a research report on Saturday. Morgan Stanley increased their target price on Watsco from $151.00 to $156.00 and gave the company an “underweight” rating in a research report on Thursday, October 26th. Susquehanna Bancshares set a $195.00 target price on Watsco and gave the company a “buy” rating in a research report on Friday. Stephens set a $169.00 price objective on Watsco and gave the company a “hold” rating in a report on Thursday. Finally, KeyCorp restated a “buy” rating on shares of Watsco in a report on Friday, November 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $170.71.

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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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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