Zacks: Analysts Expect Watsco Inc (NYSE:WSO) Will Post Earnings of $2.54 Per Share

Brokerages expect Watsco Inc (NYSE:WSO) to report earnings per share of $2.54 for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Watsco’s earnings, with the highest EPS estimate coming in at $2.65 and the lowest estimate coming in at $2.47. Watsco posted earnings of $2.40 per share in the same quarter last year, which indicates a positive year over year growth rate of 5.8%. The business is expected to issue its next quarterly earnings results on Wednesday, July 24th.

On average, analysts expect that Watsco will report full-year earnings of $6.81 per share for the current year, with EPS estimates ranging from $6.60 to $7.43. For the next year, analysts expect that the firm will post earnings of $7.21 per share, with EPS estimates ranging from $6.91 to $7.91. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Watsco.

Watsco (NYSE:WSO) last released its quarterly earnings results on Tuesday, April 23rd. The construction company reported $0.88 EPS for the quarter, hitting the consensus estimate of $0.88. The firm had revenue of $931.30 million for the quarter, compared to analyst estimates of $942.05 million. Watsco had a return on equity of 14.23% and a net margin of 5.05%. Watsco’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 EPS.

Separately, Zacks Investment Research raised Watsco from a “sell” rating to a “hold” rating in a research report on Monday, March 11th. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $171.50.

Hedge funds have recently bought and sold shares of the business. Tompkins Financial Corp increased its holdings in shares of Watsco by 63.3% in the 1st quarter. Tompkins Financial Corp now owns 178 shares of the construction company’s stock valued at $32,000 after acquiring an additional 69 shares during the last quarter. Penserra Capital Management LLC bought a new stake in shares of Watsco in the 1st quarter valued at approximately $27,000. Quadrant Capital Group LLC increased its holdings in shares of Watsco by 194.1% in the 1st quarter. Quadrant Capital Group LLC now owns 200 shares of the construction company’s stock valued at $27,000 after acquiring an additional 132 shares during the last quarter. AdvisorNet Financial Inc bought a new stake in shares of Watsco in the 4th quarter valued at approximately $47,000. Finally, Washington Trust Bank increased its holdings in shares of Watsco by 4,757.1% in the 1st quarter. Washington Trust Bank now owns 340 shares of the construction company’s stock valued at $49,000 after acquiring an additional 333 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Watsco stock opened at $163.53 on Friday. The business’s 50 day moving average is $160.64. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 1.89 and a beta of 0.93. The company has a quick ratio of 1.27, a current ratio of 3.17 and a debt-to-equity ratio of 0.09. Watsco has a one year low of $131.88 and a one year high of $187.46.

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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