Watsco (NYSE:WSO) Issues Quarterly Earnings Results, Misses Estimates By $0.51 EPS

Watsco (NYSE:WSO) posted its quarterly earnings data on Wednesday. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51), Briefing.com reports. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Watsco had a return on equity of 18.55% and a net margin of 7.02%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the business posted $4.35 EPS.

Watsco Price Performance

NYSE:WSO traded up $11.74 during midday trading on Thursday, hitting $478.16. The company had a trading volume of 269,745 shares, compared to its average volume of 291,539. The company has a market capitalization of $19.27 billion, a PE ratio of 36.46 and a beta of 0.88. The company has a quick ratio of 1.55, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. Watsco has a 52-week low of $338.58 and a 52-week high of $520.41. The stock’s fifty day moving average price is $481.95 and its 200-day moving average price is $473.28.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th will be issued a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Wednesday, October 16th. Watsco’s dividend payout ratio is currently 83.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Robert W. Baird lowered their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday.

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.