Zacks: Analysts Anticipate Watsco Inc (WSO) Will Post Quarterly Sales of $965.62 Million

Equities research analysts predict that Watsco Inc (NYSE:WSO) will report $965.62 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Watsco’s earnings. The highest sales estimate is $979.30 million and the lowest is $957.30 million. Watsco posted sales of $913.61 million during the same quarter last year, which suggests a positive year-over-year growth rate of 5.7%. The firm is expected to announce its next earnings report on Tuesday, February 13th.

On average, analysts expect that Watsco will report full year sales of $965.62 million for the current fiscal year, with estimates ranging from $4.33 billion to $4.36 billion. For the next year, analysts forecast that the business will report sales of $4.56 billion per share, with estimates ranging from $4.53 billion to $4.59 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Watsco.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, October 25th. The construction company reported $1.82 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.95 by ($0.13). The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.26 billion. Watsco had a net margin of 4.46% and a return on equity of 15.00%. Watsco’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.78 earnings per share.

A number of research firms have recently commented on WSO. KeyCorp reissued a “buy” rating on shares of Watsco in a report on Friday, November 17th. Morgan Stanley boosted their price target on Watsco from $151.00 to $156.00 and gave the stock an “underweight” rating in a report on Thursday, October 26th. Zacks Investment Research cut Watsco from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $154.00 price target on shares of Watsco in a report on Thursday, September 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $160.40.

In related news, SVP Barry S. Logan sold 3,246 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 15,800 shares in the company, valued at approximately $2,595,940. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 13.93% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. TimesSquare Capital Management LLC boosted its position in shares of Watsco by 198.9% during the 2nd quarter. TimesSquare Capital Management LLC now owns 753,600 shares of the construction company’s stock valued at $116,205,000 after purchasing an additional 501,450 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Watsco by 54.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 875,680 shares of the construction company’s stock valued at $134,994,000 after purchasing an additional 309,675 shares in the last quarter. DF Dent & Co. Inc. boosted its position in shares of Watsco by 951.0% during the 2nd quarter. DF Dent & Co. Inc. now owns 342,053 shares of the construction company’s stock valued at $52,745,000 after purchasing an additional 309,509 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Watsco by 109.8% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 409,392 shares of the construction company’s stock valued at $63,128,000 after purchasing an additional 214,274 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Watsco by 306.0% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 257,243 shares of the construction company’s stock valued at $39,667,000 after purchasing an additional 193,889 shares in the last quarter. Institutional investors and hedge funds own 82.40% of the company’s stock.

Watsco (WSO) opened at $170.04 on Monday. The company has a current ratio of 3.13, a quick ratio of 1.42 and a debt-to-equity ratio of 0.21. Watsco has a fifty-two week low of $134.08 and a fifty-two week high of $172.00. The company has a market capitalization of $6,077.40, a price-to-earnings ratio of 31.43 and a beta of 0.83.

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Watsco Company Profile

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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