Watsco (WSO) Hikes Annual Dividend 24% to $4.20/Share
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July 25, 2016 7:37 AM EDT
(Updated - July 25, 2016 1:16 PM EDT)
Seaport Global Securities downgraded Watsco (NYSE: WSO) from Accumulate to Neutral with a price target of $150. The analyst's 2016-2017 EPS forecast was reduced to $5.27 and $5.95 from ($5.60 and $6.36) to reflect the weaker HVAC outlook.
"Over the... More
July 22, 2016 7:38 AM EDT
Watsco (NYSE: WSO) reported Q2 EPS of $1.82, $0.23 worse than the analyst estimate of $2.05. Revenue for the quarter came in at $1.21 billion versus the consensus estimate of $1.29 billion.
Albert H. Nahmad, Watscos Chairman and CEO, stated: Our summer selling season started later than normal this year, and record sales and profits in June were insufficient to offset softer business conditions during the early part of the quarter. July sales trends have accelerated to double-digit growth and we believe profits will follow. Looking long-term, we remain very positive about our basic... More
