Watsco (NYSE:WSO) Announces Quarterly 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. Watsco had a net margin of 7.03% and a return on equity of 19.26%. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the company posted $2.83 EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year.

Watsco Stock Performance

WSO opened at $443.21 on Friday. The company has a market cap of $17.51 billion, a price-to-earnings ratio of 34.09 and a beta of 0.90. The firm’s fifty day simple moving average is $412.36 and its two-hundred day simple moving average is $399.76. 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be given a dividend of $2.70 per share. The ex-dividend date of this dividend is Friday, April 12th. This is a boost from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 dividend on an annualized basis and a yield of 2.44%. Watsco’s dividend payout ratio is currently 83.08%.

Analysts Set New Price Targets

A number of analysts have commented on WSO shares. Robert W. Baird lifted their price target on Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday. Stephens reiterated an “overweight” rating and issued a $500.00 price objective on shares of Watsco in a research note on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Watsco currently has a consensus 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.