Watsco Inc (WSO) Expected to Announce Quarterly Sales of $912.85 Million

Equities analysts expect Watsco Inc (NYSE:WSO) to report sales of $912.85 million for the current quarter, according to Zacks. Six analysts have issued estimates for Watsco’s earnings, with the highest sales estimate coming in at $922.50 million and the lowest estimate coming in at $902.70 million. Watsco posted sales of $872.10 million in the same quarter last year, which indicates a positive year over year growth rate of 4.7%. The company is scheduled to announce its next earnings report on Tuesday, April 24th.

According to Zacks, analysts expect that Watsco will report full-year sales of $912.85 million for the current fiscal year, with estimates ranging from $4.52 billion to $4.60 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $4.77 billion per share, with estimates ranging from $4.70 billion to $4.84 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Watsco.

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Watsco (NYSE:WSO) last released its earnings results on Thursday, February 8th. The construction company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.10). Watsco had a return on equity of 14.66% and a net margin of 4.80%. The business had revenue of $964.35 million for the quarter, compared to analysts’ expectations of $965.85 million. During the same quarter in the prior year, the business posted $0.81 EPS. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year.

Several research firms recently issued reports on WSO. JPMorgan Chase cut their target price on Watsco from $180.00 to $169.00 and set a “neutral” rating for the company in a research report on Monday, February 12th. Stephens set a $169.00 price target on Watsco and gave the company a “hold” rating in a report on Thursday, February 8th. Zacks Investment Research cut Watsco from a “buy” rating to a “hold” rating and set a $201.00 price target for the company. in a report on Saturday, February 3rd. Finally, Susquehanna Bancshares set a $195.00 price target on Watsco and gave the company a “buy” rating in a report on Friday, February 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $168.88.

Shares of NYSE:WSO traded up $4.88 during trading on Tuesday, hitting $180.97. 288,619 shares of the company’s stock were exchanged, compared to its average volume of 337,571. The company has a current ratio of 3.21, a quick ratio of 1.38 and a debt-to-equity ratio of 0.01. Watsco has a 52-week low of $134.08 and a 52-week high of $183.84. The stock has a market capitalization of $6,751.27, a P/E ratio of 33.02 and a beta of 0.93.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SeaCrest Wealth Management LLC purchased a new position in Watsco during the 4th quarter valued at approximately $103,000. Cigna Investments Inc. New bought a new stake in shares of Watsco in the 4th quarter valued at approximately $205,000. Financial Gravity Companies Inc. bought a new stake in shares of Watsco in the 4th quarter valued at approximately $230,000. Quantbot Technologies LP bought a new stake in shares of Watsco in the 3rd quarter valued at approximately $207,000. Finally, Capital Fund Management S.A. bought a new stake in shares of Watsco in the 4th quarter valued at approximately $224,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

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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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Earnings History and Estimates for Watsco (NYSE:WSO)

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