Watsco (NYSE:WSO) Releases Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Watsco (NYSE:WSO) posted its quarterly earnings results on Wednesday. The construction company reported $2.17 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.09), Briefing.com reports. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Watsco had a return on equity of 21.36% and a net margin of 7.36%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $2.83 earnings per share.

Watsco Trading Up 1.6 %

WSO stock traded up $7.23 during trading on Thursday, reaching $447.83. 216,571 shares of the stock were exchanged, compared to its average volume of 344,875. The company has a current ratio of 3.36, a quick ratio of 1.47 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $410.19 and a 200-day moving average price of $399.13. Watsco has a 1 year low of $315.17 and a 1 year high of $451.29. The firm has a market capitalization of $17.69 billion, a price-to-earnings ratio of 32.94 and a beta of 0.90.

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be paid a dividend of $2.70 per share. The ex-dividend date is Friday, April 12th. This is an increase from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 dividend on an annualized basis and a yield of 2.41%. Watsco’s payout ratio is 79.06%.

Analysts Set New Price Targets

Separately, Robert W. Baird raised their price target on shares of Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $404.25.

Watsco Company Profile

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.