Watsco, Inc. (NYSE:WSO) Expected to Announce Quarterly Sales of $1.07 Billion

Wall Street analysts predict that Watsco, Inc. (NYSE:WSO) will report sales of $1.07 billion for the current quarter, according to Zacks. Six analysts have made estimates for Watsco’s earnings. The lowest sales estimate is $1.05 billion and the highest is $1.09 billion. Watsco reported sales of $1.01 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 5.9%. The firm is expected to report its next quarterly earnings results on Thursday, April 22nd.

According to Zacks, analysts expect that Watsco will report full-year sales of $5.29 billion for the current fiscal year, with estimates ranging from $5.19 billion to $5.36 billion. For the next year, analysts forecast that the firm will post sales of $5.46 billion, with estimates ranging from $5.32 billion to $5.59 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Watsco.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Thursday, February 11th. The construction company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.13. Watsco had a net margin of 4.77% and a return on equity of 13.38%.

Several research firms have weighed in on WSO. Vertical Research raised shares of Watsco from a “sell” rating to a “hold” rating in a research note on Monday, January 4th. JPMorgan Chase & Co. raised Watsco from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $185.00 to $218.00 in a research note on Monday, March 1st. Morgan Stanley raised their price target on Watsco from $219.00 to $233.00 and gave the stock an “equal weight” rating in a research report on Friday, February 12th. William Blair reiterated an “outperform” rating on shares of Watsco in a research report on Wednesday, January 20th. Finally, Jefferies Financial Group raised their target price on shares of Watsco from $230.00 to $250.00 and gave the stock a “hold” rating in a report on Friday, January 15th. Seven research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Watsco has an average rating of “Hold” and an average target price of $225.80.

A number of hedge funds have recently made changes to their positions in the stock. Voya Financial Advisors Inc. increased its position in Watsco by 7.8% during the 4th quarter. Voya Financial Advisors Inc. now owns 2,676 shares of the construction company’s stock valued at $610,000 after purchasing an additional 194 shares during the period. Norges Bank bought a new stake in shares of Watsco during the 4th quarter valued at about $57,666,000. UBS Asset Management Americas Inc. increased its position in shares of Watsco by 14.4% during the fourth quarter. UBS Asset Management Americas Inc. now owns 59,831 shares of the construction company’s stock valued at $13,555,000 after buying an additional 7,525 shares during the period. Hsbc Holdings PLC raised its stake in Watsco by 8.5% in the fourth quarter. Hsbc Holdings PLC now owns 5,329 shares of the construction company’s stock worth $1,207,000 after buying an additional 418 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Watsco in the fourth quarter worth about $237,000. 81.54% of the stock is owned by institutional investors.

Shares of Watsco stock opened at $239.66 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.22 and a current ratio of 2.55. Watsco has a 52-week low of $132.97 and a 52-week high of $265.18. The company has a fifty day moving average of $245.10 and a 200-day moving average of $235.92. The stock has a market capitalization of $9.22 billion, a price-to-earnings ratio of 39.29 and a beta of 0.79.

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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