Watsco (NYSE:WSO) Announces Quarterly Earnings Results

Watsco (NYSE:WSO) announced its quarterly earnings results on Tuesday. The construction company reported $3.77 earnings per share for the quarter, missing analysts’ consensus estimates of $4.10 by ($0.33), FiscalAI reports. Watsco had a net margin of 6.53% and a return on equity of 14.40%. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.21 billion.

Watsco Stock Performance

Shares of NYSE:WSO opened at $305.97 on Tuesday. The business’s fifty day moving average price is $307.02 and its two-hundred day moving average price is $367.03. The stock has a market cap of $12.62 billion, a PE ratio of 26.54 and a beta of 1.06. Watsco has a one year low of $277.34 and a one year high of $459.00.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, October 16th. Watsco’s dividend payout ratio is 114.48%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on WSO shares. DA Davidson cut their price target on Watsco from $385.00 to $330.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Stephens reissued an “overweight” rating and issued a $485.00 price objective on shares of Watsco in a research note on Monday, August 17th. Zacks Research upgraded shares of Watsco from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 21st. Robert W. Baird set a $400.00 target price on shares of Watsco in a report on Thursday, July 30th. Finally, Morgan Stanley cut their target price on shares of Watsco from $370.00 to $330.00 and set an “equal weight” rating for the company in a research report on Monday, October 12th. Two equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Watsco currently has an average rating of “Hold” and an average target price of $373.62.

Watsco Company Profile

Watsco, Inc (NYSE: WSO) is a distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment and related products. The company supplies residential and light commercial air-conditioning and heating systems, refrigeration equipment, replacement parts, and other supplies used by contractors and service professionals.

Watsco distributes products from leading HVAC/R manufacturers, including equipment and components such as air conditioners, heat pumps, furnaces, air handlers, thermostats, controls, motors and indoor air-quality products.