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

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

Watsco Price Performance

NYSE WSO traded up $7.68 during mid-day trading on Thursday, hitting $448.28. The stock had a trading volume of 175,709 shares, compared to its average volume of 344,112. Watsco has a 52-week low of $315.17 and a 52-week high of $451.29. The company has a 50 day simple moving average of $410.19 and a 200 day simple moving average of $399.13. The company has a quick ratio of 1.47, a current ratio of 3.36 and a debt-to-equity ratio of 0.01. The company has a market cap of $17.71 billion, a price-to-earnings ratio of 32.72 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. Investors of record on Monday, April 15th will be given a $2.70 dividend. 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 dividend yield of 2.41%. Watsco’s dividend payout ratio is 79.06%.

Analyst Upgrades and Downgrades

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