Equities analysts predict that Watsco Inc (NYSE:WSO) will report sales of $1.01 billion for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Watsco’s earnings, with the lowest sales estimate coming in at $1.00 billion and the highest estimate coming in at $1.02 billion. Watsco posted sales of $964.35 million in the same quarter last year, which suggests a positive year over year growth rate of 4.7%. The firm is expected to report its next earnings results on Thursday, February 14th.

According to Zacks, analysts expect that Watsco will report full-year sales of $4.57 billion for the current fiscal year, with estimates ranging from $4.56 billion to $4.58 billion. For the next year, analysts forecast that the business will post sales of $4.78 billion, with estimates ranging from $4.74 billion to $4.83 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Watsco.

Watsco (NYSE:WSO) last posted its earnings results on Thursday, October 25th. The construction company reported $2.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.26 by ($0.15). Watsco had a net margin of 5.15% and a return on equity of 14.00%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the firm posted $1.82 earnings per share.

Several analysts have recently weighed in on WSO shares. Zacks Investment Research raised Watsco from a “hold” rating to a “buy” rating and set a $197.00 target price for the company in a report on Thursday, September 27th. Buckingham Research reduced their target price on Watsco from $187.00 to $167.00 and set a “neutral” rating for the company in a report on Friday, October 26th. ValuEngine raised Watsco from a “hold” rating to a “buy” rating in a report on Tuesday, September 11th. Jefferies Financial Group assumed coverage on Watsco in a report on Friday, October 12th. They issued a “hold” rating and a $160.00 target price for the company. Finally, JPMorgan Chase & Co. cut Watsco from a “neutral” rating to an “underweight” rating and boosted their price target for the company from $166.00 to $176.00 in a research report on Friday, September 21st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Watsco currently has an average rating of “Hold” and a consensus target price of $182.38.

Hedge funds have recently modified their holdings of the stock. Bruderman Asset Management LLC acquired a new position in Watsco in the 2nd quarter valued at about $111,000. First Hawaiian Bank acquired a new position in Watsco in the 3rd quarter valued at about $135,000. Point72 Hong Kong Ltd acquired a new position in Watsco during the 3rd quarter worth approximately $194,000. Alps Advisors Inc. acquired a new position in Watsco during the 3rd quarter worth approximately $232,000. Finally, Ontario Teachers Pension Plan Board acquired a new position in Watsco during the 2nd quarter worth approximately $241,000. Hedge funds and other institutional investors own 80.68% of the company’s stock.

Shares of Watsco stock traded down $0.52 on Thursday, hitting $149.59. The stock had a trading volume of 157,100 shares, compared to its average volume of 276,393. Watsco has a 52-week low of $138.61 and a 52-week high of $192.94. The company has a market capitalization of $5.58 billion, a P/E ratio of 27.30, a PEG ratio of 1.85 and a beta of 0.93.

About Watsco

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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