Watsco Inc(NYSE:WSO) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-Market on Feb 14, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $913.611M. Analysts estimated a revenue of $947.760M. The revenues were -3.6% below the estimates. Earnings per share were $0.81. The reported EPS was below estimates by -6.9%. Analysts had estimated an EPS of $0.87.
In a different note, On Dec 20, 2016, Morgan Stanley said it Downgrades its rating on Watsco Inc. According to the research note, Morgan Stanley Lowers the price target to $152 per share from a prior target of $160. The shares have been rated ‘Underweight’ by the firm.
Watsco Inc (WSO) shares turned negative on Wednesdays trading session with the shares closing down -0.5 points or -0.32% at a volume of 1,57,622. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $154.51. The peak price level was also seen at $154.51 while the days lowest was $152.825. Finally the shares closed at $153.44. The 52-week high of the shares is $159.55 while the 52-week low is $123.64. According to the latest information available, the market cap of the company is $5,451 M.
Several Insider Transactions has been reported to the SEC. On Dec 11, 2015, David C. Darnell (director) sold 3,000 shares at $121.66 per share price.Also, On Nov 12, 2015, Barry S Logan (Senior Vice President) sold 8,000 shares at $121.85 per share price.
Watsco Inc. (Watsco) is a distributor of air conditioning heating and refrigeration equipment and related parts and supplies (HVAC/R). The Company operates in the HVAC/R distribution industry in North America. It has market coverage on an export basis to Latin America and the Caribbean through which it serves more than 50000 contractors and dealers that service the replacement and new construction markets. Watsco sells a line of products: equipment including residential central air conditioners component parts and supplies including thermostats insulation material refrigerants ductwork grills registers sheet metal tools copper tubing concrete pads tape adhesives and other ancillary supplies electric and oil furnaces among others. It also sells products to the refrigeration market which include condensing units compressors evaporators and valves among others.