Watsco Inc (NYSE:WSO) – Equities research analysts at KeyCorp cut their Q2 2020 EPS estimates for Watsco in a note issued to investors on Tuesday, July 7th. KeyCorp analyst J. Hammond now expects that the construction company will post earnings of $2.15 per share for the quarter, down from their prior estimate of $2.24. KeyCorp also issued estimates for Watsco’s Q3 2020 earnings at $1.95 EPS, FY2020 earnings at $5.80 EPS and FY2021 earnings at $6.45 EPS.

WSO has been the subject of several other research reports. Zacks Investment Research lowered shares of Watsco from a “hold” rating to a “sell” rating and set a $186.00 price target for the company. in a report on Saturday, May 30th. JPMorgan Chase & Co. upped their price target on shares of Watsco from $127.00 to $130.00 and gave the stock an “underweight” rating in a research report on Tuesday, June 23rd. Morgan Stanley lowered their price objective on Watsco from $147.00 to $138.00 and set an “equal weight” rating on the stock in a report on Monday, March 23rd. Finally, Robert W. Baird cut their price objective on Watsco from $170.00 to $168.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $162.00.

WSO opened at $185.29 on Friday. The company has a fifty day moving average of $175.99 and a two-hundred day moving average of $168.62. The stock has a market capitalization of $7.06 billion, a price-to-earnings ratio of 29.69 and a beta of 0.68. Watsco has a fifty-two week low of $132.97 and a fifty-two week high of $186.87. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.24 and a current ratio of 3.06.

Watsco (NYSE:WSO) last released its earnings results on Thursday, April 23rd. The construction company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.14). Watsco had a return on equity of 14.23% and a net margin of 4.98%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business earned $0.88 earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Thursday, July 16th will be given a dividend of $1.775 per share. The ex-dividend date is Wednesday, July 15th. This represents a $7.10 dividend on an annualized basis and a yield of 3.83%. Watsco’s payout ratio is presently 109.23%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Boston Financial Mangement LLC grew its holdings in shares of Watsco by 27.5% in the first quarter. Boston Financial Mangement LLC now owns 285,236 shares of the construction company’s stock valued at $45,076,000 after purchasing an additional 61,502 shares during the period. Motley Fool Wealth Management LLC grew its stake in shares of Watsco by 6.7% in the 1st quarter. Motley Fool Wealth Management LLC now owns 116,707 shares of the construction company’s stock valued at $18,443,000 after buying an additional 7,288 shares during the period. Royal Bank of Canada grew its stake in shares of Watsco by 86.3% in the 1st quarter. Royal Bank of Canada now owns 49,992 shares of the construction company’s stock valued at $7,901,000 after buying an additional 23,158 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of Watsco by 11.9% during the 4th quarter. Nuveen Asset Management LLC now owns 255,841 shares of the construction company’s stock worth $46,090,000 after buying an additional 27,227 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Watsco during the 4th quarter valued at approximately $81,931,000. 80.33% of the stock is owned by institutional investors.

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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