Watsco (NYSE:WSO) Announces Earnings Results

Watsco (NYSE:WSO) issued its quarterly earnings results on Tuesday. The construction company reported $4.49 EPS for the quarter, missing analysts’ consensus estimates of $4.70 by ($0.21), Briefing.com reports. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.19 billion. Watsco had a net margin of 7.02% and a return on equity of 18.55%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company posted $4.42 EPS.

Watsco Trading Down 3.9 %

NYSE:WSO opened at $470.39 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 3.21. The firm has a market cap of $18.96 billion, a price-to-earnings ratio of 36.18 and a beta of 0.88. Watsco has a 52 week low of $337.58 and a 52 week high of $520.41. The firm has a 50-day moving average price of $481.93 and a two-hundred day moving average price of $441.49.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Tuesday, July 16th were issued a $2.70 dividend. The ex-dividend date of this dividend was Tuesday, July 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.30%. Watsco’s dividend payout ratio is presently 83.08%.

Analyst Ratings Changes

WSO has been the topic of a number of research analyst reports. Robert W. Baird upped their price target on shares of Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a research report on Wednesday. Stephens reiterated an “overweight” rating and set a $500.00 price objective on shares of Watsco in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $433.71.

Insider Buying and Selling at Watsco

In other news, Director John Alexander Macdonald sold 5,334 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $466.41, for a total transaction of $2,487,830.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Watsco news, EVP Barry S. Logan sold 774 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $473.85, for a total transaction of $366,759.90. Following the sale, the executive vice president now owns 1,770 shares of the company’s stock, valued at approximately $838,714.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Alexander Macdonald sold 5,334 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $466.41, for a total transaction of $2,487,830.94. The disclosure for this sale can be found here. Company insiders own 12.86% of the company’s stock.

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.