William Blair Analysts Boost Earnings Estimates for Watsco Inc (NYSE:WSO)

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Watsco Inc (NYSE:WSO) – Stock analysts at William Blair increased their Q3 2020 earnings estimates for Watsco in a research report issued to clients and investors on Monday, June 29th. William Blair analyst R. Merkel now anticipates that the construction company will post earnings per share of $1.96 for the quarter, up from their previous estimate of $1.90. William Blair also issued estimates for Watsco’s FY2020 earnings at $5.55 EPS.

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

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

Watsco stock opened at $177.70 on Wednesday. Watsco has a fifty-two week low of $132.97 and a fifty-two week high of $186.87. The stock has a market cap of $6.64 billion, a PE ratio of 28.48 and a beta of 0.68. The firm’s 50-day simple moving average is $171.65 and its 200 day simple moving average is $168.56. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.24 and a current ratio of 3.06.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new stake in Watsco during the 4th quarter worth approximately $81,931,000. Anchor Capital Advisors LLC increased its holdings in Watsco by 956.3% during the 1st quarter. Anchor Capital Advisors LLC now owns 258,856 shares of the construction company’s stock worth $40,907,000 after acquiring an additional 234,350 shares during the period. Wells Fargo & Company MN increased its holdings in Watsco by 46.5% during the 1st quarter. Wells Fargo & Company MN now owns 654,189 shares of the construction company’s stock worth $103,382,000 after acquiring an additional 207,597 shares during the period. Captrust Financial Advisors increased its holdings in Watsco by 12,907.6% during the 4th quarter. Captrust Financial Advisors now owns 106,402 shares of the construction company’s stock worth $19,079,000 after acquiring an additional 105,584 shares during the period. Finally, Caledonia Investments PLC increased its holdings in Watsco by 53.2% during the 1st quarter. Caledonia Investments PLC now owns 268,784 shares of the construction company’s stock worth $42,473,000 after acquiring an additional 93,306 shares during the period. 80.33% of the stock is currently owned by institutional investors.

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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