Analysts Expect Watsco Inc (WSO) Will Announce Earnings of $2.25 Per Share

Wall Street analysts expect Watsco Inc (NYSE:WSO) to report earnings per share (EPS) of $2.25 for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Watsco’s earnings. The lowest EPS estimate is $2.19 and the highest is $2.30. Watsco reported earnings of $1.82 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 23.6%. The business is scheduled to report its next earnings report before the market opens on Thursday, October 25th.

On average, analysts expect that Watsco will report full-year earnings of $6.69 per share for the current financial year, with EPS estimates ranging from $6.61 to $6.80. For the next fiscal year, analysts expect that the business will post earnings of $7.27 per share, with EPS estimates ranging from $7.17 to $7.40. Zacks’ EPS averages are an average based on a survey of analysts that cover Watsco.

Watsco (NYSE:WSO) last released its quarterly earnings results on Wednesday, July 25th. The construction company reported $2.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.47 by ($0.07). The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Watsco had a return on equity of 14.26% and a net margin of 5.05%. The company’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.07 EPS.

WSO has been the subject of several recent analyst reports. Zacks Investment Research upgraded Watsco from a “sell” rating to a “hold” rating in a research report on Monday, June 25th. Robert W. Baird lowered Watsco from an “outperform” rating to a “neutral” rating and set a $185.00 target price for the company. in a research report on Tuesday, July 3rd. ValuEngine lowered Watsco from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Seaport Global Securities lowered Watsco from a “buy” rating to a “neutral” rating in a research report on Thursday, July 26th. Finally, Longbow Research lowered Watsco from a “buy” rating to a “neutral” rating in a research report on Monday, July 30th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Watsco currently has an average rating of “Hold” and a consensus target price of $181.67.

Several institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its stake in shares of Watsco by 2.6% during the third quarter. Nisa Investment Advisors LLC now owns 24,650 shares of the construction company’s stock valued at $4,390,000 after acquiring an additional 620 shares in the last quarter. First Hawaiian Bank bought a new stake in shares of Watsco during the third quarter valued at approximately $135,000. Stock Yards Bank & Trust Co. raised its stake in shares of Watsco by 3.6% during the third quarter. Stock Yards Bank & Trust Co. now owns 51,474 shares of the construction company’s stock valued at $9,167,000 after acquiring an additional 1,774 shares in the last quarter. Wendell David Associates Inc. raised its stake in shares of Watsco by 8.0% during the third quarter. Wendell David Associates Inc. now owns 22,960 shares of the construction company’s stock valued at $4,089,000 after acquiring an additional 1,710 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Watsco by 97.6% during the third quarter. State of Alaska Department of Revenue now owns 7,846 shares of the construction company’s stock valued at $1,396,000 after acquiring an additional 3,876 shares in the last quarter. 83.92% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:WSO traded down $2.25 during trading hours on Wednesday, hitting $165.25. 198,200 shares of the company’s stock traded hands, compared to its average volume of 257,998. Watsco has a 1 year low of $155.57 and a 1 year high of $192.94. The firm has a market capitalization of $6.66 billion, a PE ratio of 30.16 and a beta of 0.71. 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Monday, October 15th will be paid a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Friday, October 12th. Watsco’s dividend payout ratio is presently 105.84%.

Watsco Company Profile

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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Earnings History and Estimates for Watsco (NYSE:WSO)

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