Watsco (NYSE:WSO) Announces Earnings Results

Watsco (NYSE:WSO) issued its quarterly earnings results on Wednesday. The construction company reported $2.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09), Briefing.com reports. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Watsco had a return on equity of 19.26% and a net margin of 7.03%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.83 EPS.

Watsco Price Performance

NYSE WSO traded up $0.77 during mid-day trading on Friday, hitting $444.77. The stock had a trading volume of 30,414 shares, compared to its average volume of 344,190. The company has a 50 day simple moving average of $411.12 and a 200 day simple moving average of $399.44. The company has a market cap of $17.57 billion, a price-to-earnings ratio of 34.14 and a beta of 0.90. The company has a quick ratio of 1.47, a current ratio of 2.92 and a debt-to-equity ratio of 0.01. Watsco has a 52-week low of $315.17 and a 52-week high of $451.29.

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be paid a $2.70 dividend. This is an increase from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 annualized dividend and a yield of 2.43%. The ex-dividend date is Friday, April 12th. Watsco’s dividend payout ratio (DPR) is presently 83.08%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WSO. Robert W. Baird raised their target price on Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a research report on Thursday. Stephens restated an “overweight” rating and issued a $500.00 target price on shares of Watsco in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Watsco currently has an average rating of “Hold” and a consensus price target of $404.25.

About Watsco

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.