Watsco Inc (NYSE:WSO) – Research analysts at Jefferies Financial Group cut their FY2019 earnings estimates for Watsco in a research report issued to clients and investors on Thursday, October 17th. Jefferies Financial Group analyst S. Volkmann now anticipates that the construction company will post earnings of $6.40 per share for the year, down from their prior estimate of $6.45. Jefferies Financial Group also issued estimates for Watsco’s Q1 2020 earnings at $0.90 EPS, Q2 2020 earnings at $2.60 EPS, Q3 2020 earnings at $2.35 EPS, Q4 2020 earnings at $1.09 EPS, FY2021 earnings at $7.10 EPS and FY2022 earnings at $7.30 EPS.
A number of other brokerages have also commented on WSO. Buckingham Research decreased their target price on Watsco from $165.00 to $164.00 and set a “neutral” rating for the company in a research report on Friday. Zacks Investment Research lowered Watsco from a “hold” rating to a “sell” rating and set a $167.00 target price for the company. in a research report on Saturday, August 3rd. Robert W. Baird boosted their target price on Watsco from $160.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday. Finally, JPMorgan Chase & Co. boosted their target price on Watsco from $132.00 to $138.00 and gave the company an “underweight” rating in a research report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $157.60.
Watsco (NYSE:WSO) last issued its earnings results on Thursday, October 17th. The construction company reported $2.20 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.03). Watsco had a net margin of 5.29% and a return on equity of 15.41%. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the firm earned $2.11 earnings per share. The business’s quarterly revenue was up 7.6% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend is Friday, October 11th. Watsco’s dividend payout ratio is currently 98.61%.
A number of institutional investors and hedge funds have recently modified their holdings of the business. First Trust Advisors LP increased its holdings in shares of Watsco by 18.9% during the first quarter. First Trust Advisors LP now owns 251,703 shares of the construction company’s stock valued at $36,046,000 after purchasing an additional 39,977 shares during the period. FMR LLC increased its holdings in shares of Watsco by 1.5% during the first quarter. FMR LLC now owns 839,948 shares of the construction company’s stock valued at $120,289,000 after purchasing an additional 12,136 shares during the period. WINTON GROUP Ltd acquired a new position in shares of Watsco during the second quarter valued at $360,000. Capital Insight Partners LLC increased its holdings in shares of Watsco by 2.6% during the second quarter. Capital Insight Partners LLC now owns 6,288 shares of the construction company’s stock valued at $1,028,000 after purchasing an additional 160 shares during the period. Finally, Pennsylvania Trust Co increased its holdings in shares of Watsco by 11.9% during the second quarter. Pennsylvania Trust Co now owns 63,824 shares of the construction company’s stock valued at $10,437,000 after purchasing an additional 6,780 shares during the period. 77.07% of the stock is owned by hedge funds and other institutional investors.
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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