Revenue Update on Watsco Inc(NYSE:WSO)

Watsco Inc(NYSE:WSO) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 22, 2016. Company reported revenue of $1.21B. Analysts estimated a revenue of $1.29B. Earnings per share were $1.82. Analysts had estimated an EPS of $2.04.

In a different note, SunTrust Robinson Humphrey said it Initiates Coverage on Watsco Inc, according to a research note issued on Jun 6, 2016. The shares have been rated ‘Buy’ by the firm. Susquehanna said it Initiates Coverage on Watsco Inc, according to a research note issued on Jun 1, 2016. The shares have been rated ‘Positive’ by the firm. On Apr 25, 2016, Stifel Nicolaus said it Downgrades its rating on Watsco Inc. The shares have been rated ‘Neutral’ by the firm.

Watsco Inc (WSO) made into the market gainers list on Thursdays trading session with the shares advancing 1.23% or 1.75 points. Due to strong positive momentum, the stock ended at $144.27, which is also near the day’s high of $144.66. The stock began the session at $142.02 and the volume stood at 1,78,761 shares. The 52-week high of the shares is $144.6899 and the 52 week low is $106.58. The company has a current market capitalization of $5,116 M and it has 3,54,64,017 shares in outstanding.

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.

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