Watsco (NYSE:WSO) Posts Quarterly Earnings Results, Beats Estimates By $0.56 EPS

Watsco (NYSE:WSO) issued its earnings results on Thursday. The construction company reported $3.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.56, MarketWatch Earnings reports. Watsco had a net margin of 5.52% and a return on equity of 16.08%. The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the business earned $2.26 earnings per share. The business’s revenue was up 36.5% on a year-over-year basis.

Shares of Watsco stock opened at $287.93 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.69 and a quick ratio of 1.12. The stock has a market capitalization of $11.14 billion, a price-to-earnings ratio of 37.29 and a beta of 0.78. The firm’s fifty day moving average price is $286.49. Watsco has a 12 month low of $212.17 and a 12 month high of $307.81.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 30th. Shareholders of record on Thursday, July 15th will be given a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 2.71%. The ex-dividend date is Wednesday, July 14th. Watsco’s dividend payout ratio is currently 111.27%.

In other Watsco news, EVP Barry S. Logan sold 5,500 shares of the firm’s stock in a transaction on Wednesday, April 28th. The stock was sold at an average price of $294.14, for a total transaction of $1,617,770.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 13.31% of the company’s stock.

Several brokerages have recently issued reports on WSO. Morgan Stanley raised their target price on shares of Watsco from $244.00 to $266.00 and gave the stock an “equal weight” rating in a report on Monday, April 26th. Stephens raised Watsco from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $300.00 to $350.00 in a research note on Friday. Finally, Wolfe Research lowered Watsco from a “peer perform” rating to an “underperform” rating and dropped their price target for the stock from $309.00 to $304.00 in a research note on Monday, July 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $274.67.

Watsco Company Profile

Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners, including gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.

Further Reading: Price-Sales Ratio

Earnings History for Watsco (NYSE:WSO)

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